Mr. John Sherborne reports

GEOVIC ACQUIRES GOLD EXPLORATION PERMITS IN WHETSTONE MOUNTAINS, ARIZONA

Geovic Mining Corp. has acquired 71 exploration permits on a 66.5-square-mile area in the northwest Whetstone Mountains of Arizona, specifically in Pima and Cochise counties.

During a 2009 to 2010 sampling program, Geovic discovered surface gold mineralization discontinuously along a nine-mile trend in what appears to be a hot springs quartz-hosted microfine gold deposit in regional detachment faults. Such settings tend to be excellent sites for hosting shallow bulk-tonnage disseminated gold deposits.

The gold identified to date is recognized as a high-level, low-temperature gold-arsenic-antimony-mercury assemblage of near-surface emplacement. The mineralization is closely associated with extensive silica flooding and veining and related clay alteration and replacement of sediments, volcanics and older basement rocks.

The company knows of no historic gold exploration in the area, and thus sees the opportunity to explore for a material gold deposit in a virgin district.

The company is developing an initial exploration program, expected to be initiated in 2011, upon receipt of an appropriate level of financing.