Geoinformatics Exploration Inc.
TSX VENTURE : GXL

Geoinformatics Exploration Inc.

June 04, 2007 13:09 ET

Geoinformatics' Australian Subsidiary Files Prospectus

TORONTO, ONTARIO--(Marketwire - June 4, 2007) - Geoinformatics Exploration Inc. (TSX VENTURE:GXL) ("Geoinformatics" or the "Company") announced today that its wholly-owned Australian subsidiary, Clancy Exploration Limited ("Clancy"), filed a prospectus (the "Prospectus") on May 22, 2007, with the Australian Securities and Investments Commission for an initial public offering of its shares (the "IPO"), and the seven-day review period ended on May 30, 2007. The offering has now opened and the Prospectus is available to Australian residents through Clancy's website at www.clancyexploration.com.

Clancy is seeking to raise AUD$5 million through the IPO with a minimum of AUD$3.5 million being underwritten by Martin Place Securities Pty Ltd., a brokerage firm based in Sydney, Australia. The offering is expected to close on June 27, 2007.

The funds raised by Clancy will be used primarily for exploration of Clancy's copper-gold porphyry projects in the prolific Lachlan Fold Belt in New South Wales, Australia. Geoinformatics will retain an approximate 48% equity interest in Clancy following the completion of the IPO, assuming the full AUD$5 million offering is completed. Geoinformatics will maintain a significant interest in its Australian properties though its shareholding in Clancy.

Clancy is based in Perth, Western Australia, and Geoinformatics and Clancy have executed a management services agreement under which Geoinformatics will provide technical services, data base storage and office support to Clancy through its Australian office. Mark Stewart, currently Vice President, Corporate Development, and Gordon Barnes, currently Exploration Manager, Australia, of Geoinformatics have been appointed Managing Director and Exploration Manager, respectively, of Clancy. Dr. Nicholas Archibald, Chief Executive Officer of Geoinformatics, has been appointed a director of Clancy.

ABOUT GEOINFORMATICS

Geoinformatics is a global exploration company which has developed a unique and innovative approach to minerals exploration. The Company is actively exploring several significant properties located in British Columbia (Redton, Mesilinka), the Battle Mountain Trend region of Nevada (Colorback), and the State of Sinaloa in Mexico (La Noria/Azulitas). The Company also has an extensive portfolio of joint ventures, other direct property interests and royalties covering a wide range of minerals in Australia, New Zealand and North America.

The Company has entered into a Master Strategic Alliance Agreement (the "Master Agreement") with Kennecott Exploration Company under which it will use its scientific and technology platform (the "Geoinformatics Process"), which integrates data aggregation, data mining and three-dimensional modeling, to identify and prioritize 30 or more exploration drill targets over the initial two years of the agreement. Pursuant to the Master Agreement, Kennecott retains certain royalty and/or back-in rights.


The Geoinformatics Process has been designed to assist in understanding and quantifying risk at a much earlier stage of the exploration cycle than has traditionally been available. The Company's objective is to advance its properties to a stage of commercial development by applying faster, less expensive and more reliable analytical methods to resource exploration.

This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our current Annual Information Form and other recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geoinformatics Exploration Inc.
    Kevin L. Snook
    Chairman
    (416) 861-1300 x226
    Email: kevins@geoinformex.com
    or
    Geoinformatics Exploration Inc.
    Dr. Nick Archibald
    Executive Vice-Chairman and CEO
    (416) 861-1300 x224
    Email: nicka@geoinformex.com
    or
    Geoinformatics Exploration Inc.
    330 Bay Street, Suite 1109
    Toronto, Ontario M5H 2S8
    Website: www.geoinformex.com