GobiMin Announces Private Placement Financing and Executive Appointments.

MONTREAL -- GobiMin Inc. (TSX VENTURE:GMN) is pleased to announce that it has closed a non-brokered private placement financing for Cdn $1,276,000, consisting of 1,160,000 Units at a price of $1.10 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant, each whole purchase warrant exercisable into one common share of GobiMin at Cdn $1.50 per share until January 31, 2007. The securities will be subject to a four month holding period.

Net proceeds from the issue will be used towards the advancement of GobiMin's exploration program at the Huangshan deposit in northwest China as well as for general corporate purposes.

Mr. Felipe Tan, Chairman and CEO of GobiMin is also pleased to announce two executive appointments. Mr. James Xiang has been appointed Chief Financial Officer, replacing Mr. Michael Choy who previously held the position. Mr. Xiang was born and educated in China where he received a Bachelor of Economics degree. He has over twelve years experience in public accounting and corporate finance in both China and Canada and with two Toronto Stock Exchange listed companies. He is a member of the Certified Public Accountants in Delaware U.S. and received a Masters of Business Administration degree from York University in Toronto in 2003. He is a resident of Toronto.

Miss Joyce Ko has been appointed Vice President of Corporate Affairs and Secretary of GobiMin. Miss Ko received a Master of Professional Accounting from the Hong Kong Polytechnic University in 2000 having graduated with distinction from the Queensland University of Technology in Australia. She is an associate of each of the Hong Kong Institute of Certified Public Accountants and the Hong Kong Institute of Chartered Secretaries and is a Certified Practising Accountant in Australia. She has been an officer of the Hong Kong Futures Exchange and Corporate Secretary of Simsen International Corporation Limited, a company listed on the Main Board of the Hong Kong Stock Exchange. Miss Ko will be based in GobiMin Group's Hong Kong office.

The appointments of Mr. Xiang and Miss Ko are subject to the approval of the TSX Venture Exchange.

GobiMin Inc., through its subsidiaries, is the largest nickel producer in the Hami region located in northwest China. The shares of GobiMin trade on the TSX Venture Exchange under the symbol GMN. GobiMin has 52,807,531 shares issued and outstanding after the above private placement.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

This press release contains certain "forward-looking statements". Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of base metals, risks associated with mining operations, including environmental risks and hazards and other risks.

GobiMin Inc. (TSX VENTURE:GMN)