Gemini Explorations Inc Commences Sampling of Proposed JV Mining Concessions to Expand the Los Chorros Gold Project: Financial News

Gemini Explorations Inc Commences Sampling of Proposed JV Mining Concessions to Expand the Los Chorros Gold Project
Monday November 26, 2007 2:30 am ET

CALGARY, AB--(MARKET WIRE)--Nov 26, 2007 -- Gemini Explorations Inc ("Gemini") (OTC BB:GXPI.OB - News) is pleased to report that Minera Primecap Geological Services (MPGS) has commenced sampling the mining concessions of the proposed joint venture prospects adjoining the Los Chorros Gold Mine. MPGS geologists commenced the sampling program immediately following the November 20, 2007 announcement of the proposed joint venture. Gemini has expedited the sampling program in order to complete the due diligence process as quickly as possible. The proposed joint venture would expand Gemini's land position and increase the scale of the Los Chorros Gold Mine project. Gemini's plans are to build a modern processing facility at Los Chorros increasing both production and recovery rates of the gold and other precious metals present. The new joint ownership and processing proposals in the adjoining mine concessions present an excellent opportunity for Gemini to increase revenue, expand mine life and accelerate the capital recovery costs of modernizing the Los Chorros mine. Gemini reported on November 5, 2007 that a 100 tonne per day production rate would produce US$1,080,280 monthly and over US$12,900,000 annually. These estimates are based on US$730 per ounce gold with US$200 per ounce operating and production costs netting US$530 per ounce.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the expectation of the gold production of the property to be acquired, the low capital costs to upgrade the Los Chorros operating plant, expanded mine life and the assumed production and net cash flow.Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2006 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.