Goldmarca Limited

Goldmarca Limited

October 27, 2006 18:37 ET

Goldmarca Limited: Clarification of the Location of the Eccolmetal Property Ecuador

PANAMA CITY, REPUBLIC OF PANAMA--(CCNMatthews - Oct. 27, 2006) - Goldmarca Limited (TSX VENTURE:GML) reports that the news releases of July 12, August 10 and October 17, 2006 relating to the Eccolmetals property (GML100%) need to be clarified as to the precise location of Eccolmetals in relation to Aurelian's Fruta Del Norte (FDN) high grade gold discovery to the immediate east of the Eccolmetals property.

The Company had announced that the Eccometals property is 300 metres west of the Aurelian discovery when upon further review the location is approximately 530 metres west from the most westerly boundary of the Aurelian discovery. The eastern boundary of the Eccolmetals property (100% Goldmarca) joining FDN runs north south and is located at easting 777700E. The most westerly location of Aurelian's high grade mineralization starts approximately at easting 778230E some 530 metres east of the Eccolmetals and FDN property line. The closest drill hole collars to the Eccometal property are collared approximately at 778085E on section 9583800N some 380 metres from the property line and 778110E on section 9583400N some 410 metres from the property line. With respect to Figure 3 attached to the July 12, 2006 and Figure 2 attached to the August 10 2006 news releases the property line between Eccolmetals and FDN is plotted incorrectly and is inconsistent with other figures presented. See Figure 1 attached, as revised, which plots the property line correctly and replaces the previous figure.

Goldmarca has no public view as to prospective ground in the adjacent Aurelian concessions and as such the prospective ground circled in the previously attached figures is now omitted. The prospective nature of the Eccolmetals ground is driven by the geological and structural settings which are being further delineated by surface mapping, geophysical surveys and geochemical sampling.

The Board of Goldmarca trusts the foregoing clarification accurately describes the location of the Eccolmetals concession with respect to Aurelian's FDN concession and their high grade gold discovery.

Dr. Howard Lahti, Ph.D. Geology, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.

On behalf of the Board of Directors

Robin Slaughter, President and Chief Executive Officer

ABOUT GOLDMARCA: Goldmarca Limited (TSX VENTURE:GML) is an international mining company that is engaged in adding value to gold and base metal projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ". For more information, please visit

Safe Harbor Statement:

Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.

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