SOURCE: Gemini Explorations, Inc.

October 16, 2008 10:58 ET

Gemini Explorations Makes Progress Toward Solidifying Joint Venture for the Development of Its La Tapata Gold Mine

CALGARY, AB--(Marketwire - October 16, 2008) - Gemini Explorations, Inc. ("Gemini") (OTCBB: GXPI) today announced significant progress in the process to structure a joint venture partnership for the development of its La Tapata Gold Mine, an activity first made public in a news release dated October 7, 2008. In that release, Gemini noted that two meetings had taken place, one in Canada and one in Colombia, between the prospective joint venture partner's staff and Gemini's representatives including senior personnel from Minera Primecap Geological Services.

Negotiations between the parties have now progressed favorably to the point at which the prospective joint venture partner wishes to move forward as quickly as possible with its due diligence process and, in that context, has committed to sending its geological staff to La Tapata to accomplish an appropriate geological review and survey of the mine site.

"The fact that our prospective joint venture partner is moving forward with an in depth examination of our La Tapata mine concession is extremely encouraging," stated Michael Hill, CEO of Gemini. "We are very excited about the potential for the development of the expanded La Tapata mine property (including the two adjacent concessions now being acquired) that a joint venture partner would enable."

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 joint venture agreement 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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