SOURCE: Gemini Explorations, Inc.

August 15, 2008 09:56 ET

Gemini Explorations, Inc. Receives Additional $500,000 Funding Commitment

CALGARY, AB--(Marketwire - August 15, 2008) - Gemini Explorations, Inc. ("Gemini") (OTCBB: GXPI) is pleased to announce that it has received an additional $500,000 financing commitment from Galleon Investments Ltd ("Galleon"). This funding commitment is in addition to the $100,000 the company announced it had received on August 11, 2008 and will be drawn down over the next 180 days. Galleon's commitment of $600,000 will enable Gemini to accelerate its development and expansion plans at its two key gold projects in Colombia. Gemini's primary focus is the upgrading and redevelopment of the La Tapata Gold Mine and the La Planada Gold project. The company will be making further development announcements in the coming days.

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 additional financing will close on specified dates, the expected completion date of the redevelopment of the La Tapata Gold and La Planada gold projects.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. 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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