SOURCE: Gemini Explorations, Inc.

February 24, 2009 08:30 ET

Gemini Explorations, Inc. Enters Into Negotiations With a New Prospective Joint Venture Partner to Assist in the Development of Its La Tapata Gold Mine

CALGARY, AB--(Marketwire - February 24, 2009) - Gemini Explorations Inc. (Gemini) (OTCBB: GXPI) announced today that it has entered into negotiations with a new prospective joint venture partner for the purpose of expediting the development of its LaTapata Gold Mine.

Previously, in a news release dated 10/16/08, Gemini updated the status of its active negotiations with its first prospective JV partner for the La Tapata Project, a substantial mining company, unnamed for reasons of confidentiality. As of this date, negotiations with the firm mentioned in that announcement are actively continuing -- as are discussions regarding the joint venture of this property with another mining exploration company (Not previously noted in any announcement).

The newly initiated negotiations are with a publicly traded mining corporation and headquartered in Canada, which is listed on the TSX-V Exchange. Representatives of this company have scheduled a visit to Colombia in March 2009 for the expressed purpose of conducting an in-depth survey/inspection of the La Tapata property.

"Gemini is emerging from a short quiet period," commented Michael Hill, CEO of Gemini, "and is now ready to proceed in a timely fashion with the successful conclusion of a joint venture agreement, which will enable us to move expeditiously to transition La Tapata into a profitable producing gold mine. We are fortunate to have interest in this property from two eminently capable prospective joint venture partners and look forward to being able to report substantial progress on this front in the very near future."

About Gemini Explorations, Inc.

Gemini Exploration is a mining exploration and development company formed to acquire, develop, and exploit natural resource properties focusing primarily on the rich yet highly underdeveloped gold deposits of Colombia.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the expectation that the proposed joint ventures will be completed, the expectation that additional concessions adjoining La Tapata will be acquired and close on specified dates and the expected completion date of the redevelopment of the La Tapata Gold Mine project. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include among others, the inherent uncertainties associated with mineral exploration and mine development. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2007 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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