SOURCE: Gemini Explorations, Inc.

October 16, 2007 02:30 ET

Gemini Explorations, Inc. Receives Proposals to Increase Revenue at the Los Chorros Gold Mine

CALGARY, AB--(Marketwire - October 16, 2007) - Gemini Explorations, Inc. ("Gemini") (OTCBB: GXPI) is pleased to report that it has received a number of joint processing proposals from mine operators and concession holders adjoining and nearby the Los Chorros Gold Mine. Gemini's plans to build a modern mineral recovery plant at Los Chorros and nearby operators using antiquated equipment with low percentage gold recovery have approached Gemini to process their gold ore on a joint net revenue basis. The joint processing proposals present an excellent opportunity for Gemini to accelerate the capital recovery costs of modernizing the Los Chorros mine and to further increase and enhance Gemini's net cash flow. As reported on October 8 2007, Gemini projected that a 100 tonne per day production rate would produce over US$7,300,000 of net cash flow after all costs.

The Los Chorros Mine presents an excellent opportunity for Gemini to take advantage of the near record high gold bullion prices and provides an internal source of cash flow to fund its ongoing development and exploitation of its wholly owned La Planada Gold Project, a potential multi million ounce gold deposit in southern Colombia.

Historically one of the largest gold producing countries in the world, Colombia's vast mineral potential has remained virtually unexplored using modern exploration and mining techniques. The Department (Province/State) of Antioquia alone produces over 1,000,000 ounces of gold per year currently, and most of it is produced from antiquated production equipment and facilities. Driven by a new era of political and economic stability and an investment-friendly mining code, Colombia has emerged as one of the resource sector's most attractive new mining frontiers.

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 of the gold production of the property, the expected completion date of the redevelopment and modernization of the Los Chorros Gold mine, the low capital costs to upgrade the Los Chorros operating plant, the assumed production and net cash flow and the multi million ounce potential of the La Planada Gold 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. 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 2006 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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