Gold Point Energy Corp.

Gold Point Energy Corp.

April 21, 2008 18:46 ET

Gold Point Energy Announces Appointment of Mr. Andrew F. de P. Malim as Director and Kevin Allison as Vice President Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Gold Point Energy (TSX VENTURE:GPE)(FRANKFURT WKN # A0HGQ1) ("the Company") is pleased to announce that Mr. Andrew F. de P. Malim has agreed to join the Board of Directors and Mr. Kevin Allison has accepted the position of Vice President of Exploration.

Mr. Andrew Malim is an experienced mining corporate finance executive with over 30 years dedicated to the financing and management of mining companies. Mr. Malim has a strong working knowledge of geology and geologic structures and has been associated with a number of significant discoveries including the Blackdome Mine in British Columbia and SNIP high-grade underground gold mining discoveries in North and South America, the USSR and Africa.

Mr. Malim's personal and corporate achievements include being a full member of the International Stock Exchange London from 1966 to 1979; a founding member of the James Capel & Co mining team from 1968 to 1979; and a founder of the Lion Mining Group in 1981 which, until 2004, acted as financier (both as principal and agent) to numerous mining companies and projects. During 1984 to 1988, Lion's work included research in smaller mining projects with a number of major mining company clients. In 1985, N M Rothschild Asset Management took a major stake with Lion Group in MFC Mining Finance Corporation Inc. to develop the Blackdome Mine in south British Columbia. A feasibility study by Kilborn confirmed this ex-Noranda project contained 1,000,000 tonnes of 30 g/t gold. This project was a technical and market success. During 1985 to 1989, Lion was financier to the SNIP project located in northern British Columbia via Delaware Resources Ltd. The SNIP Project was similar to Blackdome in grade and tonnage and style of mineralization. The SNIP came into profitable production and closed around 1999.

Prior to being acquired by Arlington Securities Ltd. in 2004, Lion Resource Management Ltd. managed the well-known "Midas" gold mining funds.

Mr. Malim has held executive and non executive board positions on numerous North American and UK mining companies including: Azco Mining Inc; Blackdome Resources Ltd.; Delaware Resources Ltd.; Dragon Gold Resources Ltd.; MFC- Mining Finance Corporation; Miramar Mining Corporation; and Kryso Resources Ltd (AIM).

Mr. Malim has written regularly for journals on the subject of mining finance and has been a regular speaker at mining conferences including the World Economic Forum in Washington, D.C.

Mr. Kevin Allison, P.Geo., is a petroleum explorationist with thirty years experience in North American and international geological and geophysical prospecting. Mr. Allison has worked in twenty-six countries on the evaluation of geotechnical and economic aspects of oil and gas plays for both major and independent petroleum companies. Mr. Allison received a B.S. in Geology from Louisiana State University in 1972. He is an active member of both the American Association of Petroleum Geologists and the Society of Exploration Geophysicists.

Mr. Allison has previously worked for Delta Petroleum, Pangaea Energy Corporation, Interactive Earth Sciences International, Apache International, Hunt Oil Company, Phillips Petroleum, McMoran Corporation, and Texaco. While at Delta Petroleum Mr. Allison proposed the drilling of Yegua wells based on 3D seismic in Newton County, Texas, that resulted in the highest production rate well ever achieved in that county. During his employment with Interactive Earth Sciences, Mr. Allison was directly responsible for finding large gas reserves in a Paleozoic thrust play in the Northwest Basin of Argentina. At Apache he contributed key technical work on Foxtrot Field, offshore Cote d'Ivoire, as well as gas and condensate discoveries on the North West Shelf of Australia.

The Company also announced a non-brokered private placement financing of up to 3,000,000 units at a price of $0.08 per unit, subject to regulatory approval. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company exercisable at a price of $0.10 per share for two year, commencing on the date of the closing of the placement. Directors, officers and business associates will subscribe for a portion of the financing. The proceeds will be used to finance the Company's ongoing exploration, property acquisitions and for general working capital. The placement securities will be issued subject to a four-month hold period.

Gold Point Energy also announces the resignations of Andrew Carter and Nick DeMare from the Board of Directors. "We thank both Mr. Carter and Mr. DeMare for their contributions to the Board and wish them well in their business ventures:" Jack S. Steinhauser, President.

Gold Point Energy is engaged in the development of oil and gas projects in North and South America. The Company has experienced technical and management professionals that provide a high level of expertise to oil and gas project development, as well as good access to industry contacts and quality projects.


Jack S. Steinhauser, President & CEO

Certain statements contained in this press release may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. These forward-looking statements are identified by their use of terms and phases such as "believe", "expect", "plan", "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from the Company's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following: the Company's ability to obtain additional financing, geological, mechanical or difficulties affecting the Company's planned geological work programs, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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

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