SOURCE: Geocom Resources Inc.

March 22, 2007 14:24 ET

Geocom Establishes Espolon Project in South Chile Based on Assay Results

BELLINGHAM, WA -- (MARKET WIRE) -- March 22, 2007 -- Geocom Resources Inc. (OTCBB: GOCM) ("Geocom" or "The Company") is pleased to announce the positive results of mapping and sampling at its Espolon Claim Block, which is part of the south Chile Region Ten reconnaissance joint venture with Kinross Gold Corporation.

Sampling by Geocom crews has returned gold assays ranging from 0.56 ppm Au to 20.9 ppm Au (0.016opt Au to 0.61opt Au). Copper assays have not yet been received. Check sampling has been conducted to verify the high grades of gold in numerous samples, and additional results will be released when the lab provides them. The table below sets forth a selection of sample results and sample widths.

Sample #   Width       g/t Au   oz/ton Au
-----------------------------------------
531058   8m (26 ft)    1.003    0.029
531066   grab          2.468    0.072
531068   7m (23ft)     3.196    0.093
531079   8m (26ft)     2.108    0.062
531083   5m (16 ft)    8.064    0.236
531084   5m (16 ft)   20.900    0.61
531085   5m (16 ft)    2.997    0.087
-----------------------------------------

Due to the excellent assay results and the highly prospective geology, Geocom has selected and elevated this claim block to project-level status. Upon receipt of complete results, Espolon will be offered to Kinross for formal joint venture in accordance with the reconnaissance venture agreement.

The Espolon Claim Block comprises 13 claims totaling 3,800 hectares (9,390 acres or about 14 square miles). The project encompasses a variably altered and mineralized gold and copper-bearing manto that has been traced over a strike length in excess of 3 kilometers (2 miles). The mineralized manto is 10 to 30 meters thick (32 to 96 feet) and consists of a gently northwesterly dipping altered volcano-sedimentary sequence of tuffs, limestones, argillites and skarn. These rocks have been thermally metamorphosed and moderately to completely silicified. Within the manto there is a massive sulfide layer that varies in thickness up to 3 meters (about 10 feet) consisting of pyrrhotite-pyrite with varying amounts of chalcopyrite.

Superimposed on the mineralized manto is a series of mineralized en echelon quartz veins that are controlled by a strong north-south structural trend. Mineralization in the veins varies up to a total amount of 60% total sulfide, with locally up to 30% chalcopyrite. This veining is present throughout the zone, but is most intense over a strike length of 1.5 kilometers (0.9 miles) at the northern end of the known manto.

Previous sampling of the manto zone by the French agency BRGM encountered copper values in grab samples ranging from 1 to 12%, and observed mineralized bedding thicknesses of 0.5 to 7 meters.

Geocom and Kinross are jointly exploring and acquiring gold and other mineral targets in Region Ten of south Chile. Properties acquired by the venture are managed via individual joint venture on a 50-50 basis. Kinross has the right to acquire a majority interest by making additional expenditures on individual properties and by exercising warrants granted to Kinross by Geocom.

For further information please contact Samantha Haynes at 604.805.4653 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 regarding the continued evaluation and exploration program in Region X of south Chile made pursuant to the joint venture agreement between Geocom and Kinross, and in particular the Company's intention to offer the Espolon claim-blocks to Kinross as a formal joint venture in accordance with the reconnaissance venture agreement. 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, and in particular a joint venture in respect of the Espolon claim-blocks, or either Geocom or Kinross being unable or unwilling, whether for financial reasons or otherwise, to perform obligations under any joint venture agreement that is entered, the inability of either party to continue working in Chile, 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. Actual results may also differ materially from those currently anticipated due to a number of other factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

WARNING: The Company relies on litigation protection for "forward-looking" statements.

Contact Information

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