GobiMin Inc.
TSX VENTURE : GMN

GobiMin Inc.

September 10, 2007 09:17 ET

GobiMin Receives Government Production Development Permits For Its Yellow Mountain Nickel-Copper Property

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2007) -

(All Figures are expressed in United States dollars except where otherwise indicated)

GobiMin Inc. (the "Company" or "GobiMin") (TSX VENTURE:GMN) is pleased to announce that its Chinese subsidiary, Xinjiang Yakesi Resources Ltd., has received for its Yellow Mountain nickel-copper property the production development permits issued by the Xinjiang Development and Reform Committee and the Xinjiang Environmental Bureau. After a review of the Feasibility Study and the Environmental Assessment Reports (the "Reports") filed by the Company, the local government issued the permits for a planned underground operation to mine nickel and copper ore of 1.32 million tonnes per year (4,000 tonnes per day). The Feasibility Study was prepared by Xinjiang Non-ferrous Design Institute which is non-compliant with NI 43-101.

The Company intends to fund the project with its own cash, on-going cash-flow and partially with project financing with local banks. As reported in the Company's most recent financial results of Q2 2007, the Company is debt free and has $36.6 million cash by the end of June 30, 2007.

Felipe Tan, President and Chief Executive Officer of GobiMin said that "We are pleased to see that the Yellow Mountain development is starting. This is an important milestone for the Company to become a key player in the nickel industry in China". Development work will commence in September 2007.

GobiMin will be continuing to drill aggressively the Yellow Mountain Deposit to expand the current resources. GobiMin holds mining rights covering 1.7316 km2 on this property.

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management of GobiMin. The readers are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. These risks include, but are not limited to, risks associated with fluctuations in metal prices, risks associated with mining operations including environmental hazards, GobiMin's reliance on key suppliers and on key personnel, the potential for changes in the legislative and regulatory environment in China and other risks and uncertainties detailed from time to time in GobiMin's annual report and other filings with the Canadian securities commissions. The readers should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and GobiMin assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law. Additional information about (i) the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information, and (ii) the material factors or assumptions, that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information is contained in GobiMin's annual report and other documents filed from time to time with the Canadian securities commissions, all of which are available at www.sedar.com and the Company's website www.gobimin.com.

To receive GobiMin press releases by email, please send a message to info@gobimin.com and specify "GobiMin press releases" on the subject line.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information