SOURCE: Geocom Resources Inc.

January 22, 2007 09:30 ET

Geocom Commences Work on Its La Carolina Property

BELLINGHAM, WA -- (MARKET WIRE) -- January 22, 2007 -- Geocom Resources Inc. (OTCBB: GOCM) is pleased to announce that exploration has commenced on its La Carolina hydrothermal gold project in the Province of San Luis, Argentina by its joint venture partner Latin American Minerals.

The exploration program includes soil geochemical surveys, geophysical surveys (IP surveys, CSAMT and magnetometer surveys), geological mapping, rock chip sampling, trench sampling and diamond drilling (2,000m). The program is based on the results of a comprehensive evaluation of the La Carolina Gold District. This evaluation included the digitization of all exploration data, including recently acquired historic data and the interpretation of satellite (ASTER and IKONOS) imagery data to evaluate structural trends and alteration patterns in the District. Eleven (11) high priority targets associated with known gold occurrences and/or highly anomalous gold soil anomalies have been identified.

Three of the targets, Cerro La Virgen, El Corte and La Luisa, are situated within a regional soil geochemical anomaly up to 200m wide and 2,000m long reporting gold in soil values up to 1.2gpt Au, 5.5gpt Au and 1.2gpt Au, respectively. Locally, this regional anomaly has seen limited surface sampling which confirmed the gold values found in the soil.

El Camino is partially exposed on surface by old workings. In 1988, Argentina's Direccion de Fabricaciones Militares (DGFM) drilled 13 vertical holes on the showing. All of the holes intersected gold mineralization. The best hole intersected 138m averaging 2.5gpt Au and included 25m averaging 4.2gpt Au, 33.9m averaging 1.22gpt Au and 29m averaging 1.44gpt Au. As part of an extensive drill program in 2004, Geocom Resources Inc. drilled an inclined hole to confirm the DGFM results and intersected 20m averaging 1.43gpt Au, 34m averaging 0.52gpt Au and 6m averaging 1.41gpt Au. This drilling confirms the existence of an intensely altered gold bearing hydrothermal breccia pipe with chalcedony and pyrite matrix which suggests that the pipe remains open to depth and the true width of the pipe remains to be determined.

The Mogote target, located 1,000m south of El Camino, was drilled by DGFM and intersected 3m averaging 59.5gpt Au in the basement rocks in contact with the Tertiary volcanic rocks. This target has not been followed up and remains open at depth and along strike.

President John Hiner stated, "The occurrence of potentially economic gold in multiple targets at La Carolina, including mineralized structural zones and intensely altered hydrothermal breccias associated with an intrusive complex, compares favorably with other large intrusive complexes known to host world-class gold deposits, such as at Creede, Colorado. We are therefore excited about the upcoming exploration programs at La Carolina."

The La Carolina property is located in the Province of San Luis approximately 85 km south of the capital San Luis. The property is situated at an elevation of 2,000m and covers 4,000 hectares (9,885 acres).

La Carolina is a 12km long diatreme-dome complex (Tertiary) with low-sulfidation style disseminated gold/silver mineralization associated with pyrite-silica alteration in heterolithic breccias spatially related to the rims of the diatremes which intrude the Paleozoic basement. The hydrothermal breccias typically are steeply dipping; however, in an abandoned road cut a horizontal breccia body is exposed in the basement rocks which confirm the existence of potentially significant horizontal breccias.

In 2005, Geocom Resources Inc. and Latin American Minerals entered into a joint venture on the property and proceeded to stake the adjacent parcel, essentially doubling the size of the property. This exploration venture with Latin American Minerals is a further implementation of Geocom's business strategy of developing new exploration targets that it considers to have solid development potential, and then forming ventures with solid operating companies for continued development. In the view of management, such ventures will allow Geocom to continue its exploration efforts while maintaining an interest in its developing properties.

For further information, please contact Samantha Haynes at 800.539.0289 or via e-mail at ir@geocom-resources.com.

On behalf of the Board of Directors

John E. Hiner, President & CEO

About Geocom Resources Inc.

Geocom Resources Inc. (OTCBB: GOCM) is a U.S.-based mineral exploration company focused on acquiring and developing mineral resources in geologically acceptable and politically stable countries of the world. The Company is presently active in Alaska, Argentina, Nevada, and Chile. The Company focuses on development of projects that are or will be of interest to mid-size or major producers with the goal to form joint ventures on such projects. Geocom expects to grow and maintain an interest in mines operated by its partners, allowing it to build value through continued exploration. To find out more about Geocom Resources Inc. please visit www.geocom-resources.com

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 joint evaluation and exploration program between Geocom and Latin American Minerals regarding potential drill targets in the Province of San Luis, Argentina. Factors that could cause actual results to differ materially include risks and uncertainties of such as the failure or inability of the parties to enter any formal joint venture agreement, or either Geocom or Latin American Minerals being unable or unwilling, whether for financial reasons or otherwise, to perform obligations under any joint venture agreement, the inability of either party to continue working in Argentina, the inability of either party to finance planned exploration, drilling and work programs, as required from time to time, and any unforeseen difficulties in commencing or completing such program, or the results of the programs not showing any commercially feasible grades of minerals, any of which could, among other things, delay, impede or prevent the planned explorations and harm the viability of Geocom.

Contact Information

  • GEOCOM RESOURCES INC.
    (the "Company" and/or "Geocom")
    Suite 413 - 114 West Magnolia Street
    Bellingham, Washington 98225
    Tel (360) 392-2898