Goldminco Corporation

Goldminco Corporation

June 08, 2006 12:25 ET

Goldminco Announces $1 Million Financing for Drilling at Blayney and Temora Projects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 8, 2006) - Goldminco Corporation (TSX VENTURE:GCP) is pleased to announce up to $1,000,000 financing by way of a private placement of 10,000,000 units at a price of $0.10 per unit with its major shareholders. Each unit will consist of one common share and one-quarter of one share purchase warrant, with each whole warrant being exercisable for one common share of the Company at a price of $0.12 per share at any time up to two years from the date of closing of the private placement.

The purpose of the financing is to fund ongoing exploration at Goldminco's Blayney and Temora Projects in New South Wales, Australia and for working capital. This confirms the strong support for Goldminco from its major shareholders in continuing its exploration efforts and endeavouring to define a substantial deposit.

Drilling will continue to define and enlarge the mineralisation previously defined at Discovery Ridge and progress its development options.

The private placement is subject to TSX Venture Exchange approval.

For additional information visit Goldminco's website at or call Mr. Bruce Hooper, President, at +61-8-93213211.

On behalf of the board of directors, Bruce Hooper, President.

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

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