Geo Minerals Ltd.
TSX VENTURE : GM

Geo Minerals Ltd.

June 09, 2008 09:52 ET

Geo Minerals Receives First Priority on Coal Permits in East-Central Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - GEO MINERALS LTD. ("Geo" or the "Company") (TSX VENTURE:GM) has received a "Comfort letter" from Saskatchewan Energy and Resources stating that of the coal permit applications processed to date, on behalf of Geo Minerals Ltd., 68,290 acres of issued Coal Prospecting Permits (CPP) will be given priority sequence. These Coal Prospecting Permits are in the area of interest in proximity to Goldsource Mines Inc.'s discovery. The Company has filed and fully paid for 72 Coal Disposition applications to date. All of the applications have been done in accordance with all the rules and regulations set forth by the government of Saskatchewan's permitting office.

The "Comfort Letter" received from the Saskatchewan Ministry of Energy and Resources pertains to the applications submitted on behalf of Geo on May 8th, 2008 and includes a list of dispositions applied for, the date of the submission, land description, boundary plan, affirmation of fee payment and first-year rent, the allocated Coal Prospecting Permit (CPP) numbers, and if the submission has priority over other applications.

Geo's goal, with regards to targeting coal permit applications, is to acquire permits on lands that show favorable cretaceous age coal hosting geological stratigraphy similar to Goldsource's recent discovery lands. The Company is determined to position itself in proximity to both the Pasquia Hills coal discovery area of south-east Saskatchewan and 80-100km in the Narrow Hills region where North America Gem recently acquired the Adamas discovery (see PR dated May 14th, 2008).

States President Mike England, "We are pleased to have received our first Comfort Letter and are very anxious to receive word on our further applications. We look forward to exploring these exciting new grounds as quickly as possible."

The standard issue Comfort letter states, "The extent to which the land described in these applications can be issued has not been investigated, and therefore this letter should not be construed as an indication that any land will be issued, as a full review is still to be completed."

The Company will announce any confirmation of the Coal Prospecting Permits that become validated through the government of Saskatchewan's permitting office process. The process time frame is determined by the permitting office and all companies in the process are dealt with similarly and given the same assurances and guarantees by the Government of Saskatchewan.

For further information we invite you to visit us at www.geominerals.ca.

Geo Minerals is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.

ON BEHALF OF THE BOARD

Michael England, President

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Geo Minerals Ltd.
    Michael England
    President
    (604) 683-3995 or Toll Free: 1-888-945-4770
    (604) 683-3988 (FAX)
    Website: www.geominerals.ca