SOURCE: Geocom Resources Inc.

January 17, 2006 13:11 ET

Geocom Announces Change of Independent Auditor

BELLINGHAM, WA -- (MARKET WIRE) -- January 17, 2006 -- Geocom Resources, Inc. (OTC BB: GOCM) (the "Company" and/or "Geocom"), is pleased to announce that it has changed its independent auditor. Geocom's new auditor is Staley, Okada & Partners, of Vancouver, British Columbia. Staley, Okada & Partners has been engaged to review Geocom's interim financial statements and to audit Geocom's financial statements for the year to end June 30, 2006.

The decision to change accountants was based solely on a decision by the Company's Board of Directors to attempt to improve its ability to file timely quarterly and annual reports. In particular, the Company believes that Staley, Okada & Partners' experience in reviewing and auditing the financial statements of mineral resource companies with foreign operations will assist the Company in making timely filings. Furthermore, the management of Geocom was unable to find similarly experienced and suitable auditors located in Washington or elsewhere in the United States who would agree to undertake the audits. Located in Vancouver, British Columbia, less than two hours from the Company's head office in Bellingham, Washington, Staley, Okada & Partners are registered with the United States Public Company Accounting Oversight Board and have clients listed on the AMEX, NASDAQ and OTC Bulletin Board and with operations around the world.

The Company plans to apply to the U.S. Securities and Exchange Commission for a waiver allowing the use of an experienced, U.S.-licensed auditor that is based in Canada. If a waiver cannot be granted, the Company will move its mind and management to Canada.

On behalf of the Board of Directors

John E. Hiner, President & CEO

Safe Harbor Statement:

Statements in this document that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding: the Company using the services of Staley, Okada & Partners to review its interim financial statements and audit year-end financial statements in an attempt to improve the Company's ability to file timely quarterly and annual reports; the Company applying to the U.S. Securities and Exchange Commission for a waiver allowing the use of an experienced, U.S.-licensed auditor that is based in Canada; and the Company moving its mind and management to Canada if such a waiver cannot be granted. Factors that could cause actual results to differ materially include risks and uncertainties of the following: Stately, Okada & Partners being unable to act or perform duties of their engagement as independent accountants of the Company; the change of accountants not expediting reviews and audits of Company financial statements and not facilitating the timely filing of quarterly and annual reports; the U.S. Securities and Exchange Commission refusing or being unable to grant a waiver to the Company to use the new accountants; and the Company being unable to move its mind and management to Canada.

Contact Information

  • GEOCOM RESOURCES INC.
    Suite 413 - 114 West Magnolia Street
    Bellingham, Washington 98225
    Tel (360) 392-2898