SOURCE: Geocom Resources Inc.

June 29, 2005 13:27 ET

Geocom Receives Initial Drill Assays at Escorpion

BELLINGHAM, WA -- (MARKET WIRE) -- June 29, 2005 -- Geocom Resources Inc. (OTC BB: GOCM) is pleased to announce the results of gold assays from the first four core holes at the Escorpion Project, Region 4 of the Coquimbo District, Chile. Four holes were completed on the Chululera zone, three holes on the Amax zone, and two holes were drilled halfway between the known showings, for a total of 512m. The Chululera zone was drilled first and assay results confirm the gold mineralization found at surface and the shallow nature of the ore zone. Assay results from drilling at the Amax zone are pending.

The first two holes at Chululera were located south of the surface outcrop of the mineralized zone. Both of these holes intersected a silicified crystal tuff containing disseminated and fracture controlled pyrite and arsenopyrite. Drill holes ES-01 and ES-02 intersected 7.8m and 10.8m respectively of the mineralized crystal tuff at anticipated shallow depth, confirming the sub-horizontal nature of the host unit. Hole ES-01 encountered 7.8m (25.6 feet) that assayed 0.94g/t gold, with a high value of 1.98g/t over 1.5m. Hole ES-02, located southwest of ES-01, and intersected 10.8m (35.4 feet) of the mineralized unit averaging 2.03g /t gold. This interval included a high value of 7.34g/t over 1.7m, within a 5.6m section of 3.5g/t gold. Drill holes ES-05 and ES-06 located to the northeast of ES-01 did not encounter the zone due to faulting. Additional drilling at Chululera will target the continuation of the mineralized crystal tuff to the south and southwest, as it appears to be thickening and increasing in grade in that direction.

Drill holes ES-03 and ES-04 were collared approximately halfway between the Chululera and the Amax showings, to the southeast of ES-01. Both holes encountered the same sequence of rock units however the mineralized tuff unit was not present. A weakly mineralized exhalite or very fine grained tuff was intersected over a 6m interval in ES-03 which assayed 0.1g/t gold and weakly anomalous arsenic. This style of mineralization may represent a more distal facies of the unit encountered at Chululera.

Management is pleased with the results of drilling to date. Drill results confirm the orientation and nature of the Chululera mineralized zone and continuity of mineralization. The mineralized zone appears to be a tabular body that lies in a sub horizontal position. The orientation of the mineralized body mimics original bedding, and its stratiform shape may indicate significant size potential. The zone occurs at shallow depths and its extension to the south and southwest allow for development of an ore-body that is amenable to open-pit extraction.

For further information please contact investor relations at 1-800-539-0289 or via e-mail ir@geocom-resources.com.

About Geocom Resources

Geocom Resources Inc. (OTC BB: 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.

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's intention to continue drilling at its Escorpion gold project in Region IV of Coquimbo, Chile, including the drilling of the Chululera zone to target the continuation of the mineralized crystal tuff to the south and southwest, as well as the ongoing evaluation of additional zones in the area as work continues. Factors that could cause actual results to differ materially include risks and uncertainties of such as the Company's inability to continue working in Chile, the inability 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 the Company.

Contact Information

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