Goldmark Minerals Ltd.

Goldmark Minerals Ltd.

March 14, 2008 09:00 ET

Goldmark Minerals Ltd. Decides Not to Acquire Major Properties in Alaska and Chile From Geocom Resources Inc.

CALGARY, ALBERTA--(Marketwire - March 14, 2008) - Goldmark Minerals Ltd. (TSX VENTURE:GMK) would like to announce that it has terminated the acquisition agreement with Geocom Resources Inc. to purchase all of Geocom's interest in the Iliamna properties in Alaska, and 49% of Geocom's complete ownership of the Santa Rosa and Marcelita properties in Central Chile.

Goldmark announced the proposed acquisition on November 19, 2007. Having completed its due diligence and subsequent to further discussions with Geocom, Goldmark has decided not to complete the transaction.

Goldmark currently has $1.5 million of working capital and plans to continue to review investment opportunities in both North and South America.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

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

Contact Information

  • Goldmark Minerals Ltd.
    Peter Barker
    Chief Executive Officer
    (403) 299-0357
    (403) 269-9890 (FAX)
    Goldmark Minerals Ltd.
    Robert W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)