July 9th, 2010,VANCOUVER, B.C.– GEO MINERALS LTD. (GM-TSX:V; 8G3 – FRANKFURT) (“GEO” or the “Company”) announces it has signed an option agreement with Hawkeye Gold & Diamond Inc. (HGO-TSX:V) whereby Hawkeye can earn up to a 60% interest in the Company’s Scotia Property, which totals 8,366.41 hectares and is located 42 kilometers east-southeast of Prince Rupert situated in the Skeena mining district of British Columbia. HAWKEYE may earn a 51% interest in the Scotia Property by paying $210,000, issuing 1,000,000 shares to the vendor of the property over a three (3) year period and by incurring $1,200,000 in work program expenditures over a four year period. Hawkeye may earn an additional 9% (total 60%) interest in the Scotia Property by incurring $500,000 per year in property expenditures until a positive Bankable Feasibility Study is completed and by issuing 500,000 shares of Hawkeye to the vendor of the Property within fifteen (15) days upon completion and delivery of the Bankable Feasibility Study to the vendor.
The property acquisition is subject to applicable regulatory approvals and a finder’s fee will be paid in connection with the acquisition.
Geo Minerals is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders, with four active porphyry copper projects in Arizona. For further information we invite you to visit us at www.geominerals.ca.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; Facsimile: 1-604-683-3988
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