NEWS RELEASE
February 25, 2008
Independent 43-101 Technical Report
Filed on the Whistler Project
Toronto, Ontario - Geoinformatics Exploration Inc. (TSX-V: GXL) (“Geoinformatics”
or the “Company”) today announced that the initial independent
National Instrument (NI) 43-101-compliant technical report on the Whistler Zone at its Alaskan Whistler
Project has been filed on SEDAR (www.sedar.com).
On January 9, 2008, Geoinformatics
announced the initial independent resource estimate on the Whistler Zone which included an Indicated
Mineral Resource of 840,000 ounces of gold and an additional Inferred Mineral
Resource Estimate of 2.74 million ounces of gold. Significant copper and
silver mineralization increases the gold-equivalent resource to 1.31 million
ounces in the Indicated category and 4.44 million ounces in the Inferred
category.
The Indicated category contains 30 million
tonnes grading 0.87 grams per tonne (g/t) gold, 2.46 g/t silver and 0.24%
copper and the Inferred category contains 134 million tonnes grading 0.64 g/t
gold, 2.18 g/t silver and 0.20% copper. The report also contains a table
(Table 16) detailing the larger tonnage and the grade at various cut-off grades
from the global block model developed for the Whistler
Zone, which includes tonnage not incorporated in the 43-101 Resource
Estimate.
The resource estimation process highlighted several untested areas of
the Whistler Zone that have the
potential to significantly increase the mineral resource which the Company
intends to confirm with follow-up drilling in 2008. Additional drilling is warranted to test
the depth extension of the higher-grade Main
Zones below the open pit resources with the potential to expand the
open pit resources at depth. Step
out drilling is warranted along the periphery of the deposit to properly close
the lateral extensions of both the lower-grade Whistler
Zone and the higher-grade Main
Zone. Infill drilling to a spacing of approximately 90 metres
may allow upgrading parts of the Inferred mineral resources to an Indicated
classification.
The independent resource
estimate was compiled by SRK Consulting (Canada) Inc. (“SRK”)
and is in compliance with NI 43-101 and Canadian Institute of Mining (CIM)
guidelines for reporting mineral resources.
The Whistler Project
comprises 732 State of Alaska
mining claims covering approximately 440 square kilometers. The Company has
prioritized 15 regional drill targets from a much larger number of identified
targets, most of which have similar geological and geophysical characteristics
to the Whistler Zone. The
Company plans on drilling a number of these targets in 2008.
Kennecott - Geoinformatics Alliance Agreement
All
Whistler prospects and properties mentioned in this press release fall under
the Kennecott-Geoinformatics Master Strategic Alliance Agreement (the
“Alliance Agreement”). The Company entered into the Alliance
Agreement effective March 2006 under which it is using its proprietary
geo-science and technology platform (the
“Geoinformatics Process”) to identify, prioritize and
drill more than 30 exploration drill targets over the initial two years of the
Agreement. The Whistler Project was acquired by Geoinformatics as a
target-of-merit under the Alliance Agreement in June 2007, and Kennecott
retains a back-in right to acquire either a 51% or 60% interest in the
project. Please refer to
Geoinformatics’ press-release dated August 14, 2006, for further
information.
Qualified Persons
The technical content of
this release has been reviewed by Darren Holden,
MAusIMM, Executive Vice President - Operations of Geoinformatics. The resource estimate and technical report for the project was
completed by George
Wahl, an Associate Principal Resource Geologist with SRK and
was reviewed by
Dr. Jean-Francois Couture, P.Geo, of SRK. By virtue of their academic backgrounds
and professional experience, Mr. Holden, Mr. Wahl and Dr. Couture are all
“qualified persons” as defined by NI 43-101.
About
Geoinformatics
Geoinformatics
is a global exploration company which has developed a unique approach to
minerals exploration which applies innovative and proprietary technology.
Whistler Project is being
acquired by Geoinformatics as a target-of-merit under the Alliance Agreement,
and upon Geoinformatics’ completion of its earn-in for the Whistler
Project, Kennecott retains a back-in right to acquire either a 51% or 60%
interest in the project. Please refer
to Geoinformatics’ press-release dated June 7, 2007.
Geoinformatics is also actively exploring several advanced projects
located in Mexico, Utah, the Cortez Trend region of Nevada,
and British Columbia.
Fourteen Company-owned properties in the State of Sonora, Mexico, fall under a
joint venture in which Azure Minerals Limited is earning a 51% interest by
spending US$4 million. Geoinformatics also has an extensive portfolio of
other direct and indirect property interests, joint ventures, and royalties
covering a wide range of minerals in Mexico,
Australia and New Zealand and North
America.
The Geoinformatics Process
integrates large-scale data aggregation, data mining and three-dimensional
modeling, and has been designed to assist in understanding and quantifying risk
at a much earlier stage of the exploration cycle than has traditionally been
available. The Company’s objective is to advance its properties to the
stage of commercial development by applying faster, less expensive and more
reliable analytical methods to resource exploration.
For Further Information Please Contact:
Mr. Kevin L. Snook Mr.
Darren Holden
Chairman Executive
Vice President - Operations
Tel: 416-861-1300
x226 Tel:
604-605-3073 x101
Email:
kevins@geoinformex.com Email:
darrenh@geoinformex.com
Geoinformatics
Exploration Inc.
330 Bay Street, Suite 1109
Toronto,
Ontario M5H 2S8
www.geoinformex.com
This news release includes certain forward-looking
statements concerning the future performance of Geoinformatics’ business,
operations and financial performance and condition, as well as
management’s objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words as
“may”, “will”, “plan”,
“expect”, “anticipate”, “estimate”,
“intend” and similar words referring to future events and
results. Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is inherently
uncertain and subject to a variety of assumptions, risks and uncertainties,
including the speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the availability of
financing, as described in more detail in Geoinformatics’ securities
filings available at www.sedar.com.
Actual events or results may differ materially from those projected in the
forward-looking statements and the reader is cautioned against placing undue
reliance thereon. We assume no obligation to revise or update these
forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.