Geocom Signs Joint Venture Agreement in Chile.

BELLINGHAM, Wash. -- Geocom Resouces Inc. (OTCBB:GOCM) is pleased to announce that its wholly-owned subsidiary, Minera Geocom Resources-Chile Limitada (MGRC), has signed a formal joint venture agreement on the Escorpion gold property.

The Escorpion Project includes two previously operated gold mines, the Merceditas and the Chululera. Additionally, the property has extensive prospect activity, ranging from small trenches and pits to several small adits and substantial glory holes. Despite its previous production history and evidence of widespread gold occurrences, the property has been only casually explored by mining companies like Amax, Rio Tinto, Rio Algom, and Chevron, and has not been subjected to detailed evaluation or drilling.

Gold mineralization at Escorpion occurs within a wide regional north-northeast-trending shear zone that appears to localize many phases of intrusive rocks (as dikes, sills, and small intrusive bodies) hosted by sedimentary and volcanic rocks. The entire complex has been subjected to multiple hydrothermal events involving silicification, sulfide emplacement, argillic alteration, intense limonitic alteration, and widespread quartz stockworks. Geochemical analysis of samples from previous exploration indicates gold has a strong association with silver, arsenic, antimony, lead, cadmium, and molybdenum. In the Chululera area, previous samples have returned gold values averaging 4.23 grams per tonne (0.124 ounces per ton) with high-grade values to 15.10 grams per tonne (0.44 ounces per ton) in a 2 to 10 meter thick zone that is a minimum of 50 meters wide and 200 meters long (6.5 to 33 feet thick, 164 feet wide by 656 feet in length). At Merceditas, samples collected from workings average 1.46 grams per tonne (0.043 ounces per ton) from a flat lying zone extending 100 m (328 feet) along strike with thicknesses of 40-50meters (131-164 feet). Both zones appear to be open along strike and at depth.

Escorpion is located approximately 318 kilometers (191 miles) north of Santiago, in Region IV of Coquimbo, Chile. The property is situated in the coast ranges of Chile, and is accessible year round via excellent paved and gravel roads. Numerous dirt roads traverse the majority of the property itself. The Escorpion comprises 159 hectares (about 393 acres), covering nearly 5 square kilometers (about 1.9 square miles).

The venture agreement was signed with Minera Canela Limitada, a Chilean mining company. A high-profile and well-known group, the principals of Minera Canela are active in resource development and production in Chile and South America, and make an excellent partner for MGRC as exploration of Escorpion continues to development. The terms of the venture agreement provide that MGRC make staged expenditures on the Escorpion property over a 4 year period to earn a 55% interest. Minera Geocom has the right to purchase an additional 5% at any time by making a payment in stock or cash to Minera Canela.

Company President John Hiner commented, "We are pleased to add Escorpion to our Chile portfolio. Escorpion's bulk tonnage gold potential and the quality of our venture partner validate our continued emphasis on Chile as a premier venue for gold and copper exploration and timely development to production. Furthermore, this property, terms of agreement, and our partner fit with our strategy to acquire and develop high quality exploration properties while developing partnerships that are able to take a property to production. We anticipate a strong and mutually beneficial long-term relationship with Minera Canela."

The addition of Escorpion to Geocom's asset base further enhances the Company's business plan to acquire and develop high quality exploration properties in politically stable countries with excellent mineral potential and strong presence of the major producers.

On behalf of the Board of Directors

/s/ John E. Hiner

John E. Hiner, President & CEO 

Safe Harbor Statement:

Statements in this document that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the Company's continued exploration efforts in Chile and, in particular, the performance of the Company's subsidiary, Minera Geocom Resources-Chile Limitada, under the terms of the formal joint venture agreement with Minera Canela Limitada, including Minera Geocom's obligation to make expenditures on the Escorpion property over a 4 year period to earn a 55% interest and the right to exercise its option to purchase an additional 5% in the project. Forward-looking statements also relate to the relationship of the partners to the agreement, the development of the property itself, and the anticipation of a mutually beneficial relationship with Minera Canela. Factors that could cause actual results to differ materially include risks and uncertainties of regarding results of exploration on the Escorpion property, the ability to continue exploration efforts in Chile, and the Company's ability to finance continued exploration and development.