Geo Minerals applies for coal permits in Saskatchewan

2008-05-21 13:41 ET - News Release

Mr. Michael England reports

GEO MINERALS LTD.: FURTHER COAL PERMITS APPLIED FOR IN SASKATCHEWAN

Geo Minerals Ltd. has submitted coal permit applications encompassing approximately 18,432 hectares (approximately 45,546 acres) in the proximity of North American Gem's newly acquired coal discovery at Narrow Hills, west of Hudson Bay, Sask., announced May 20, 2008.

The recent discovery of coal at Narrow Hills, acquired by North American Gem Inc., is approximately 80 to 100 kilometres southeast of the first discovery by Goldsource Mines Inc. in east-central Saskatchewan. Geo will work with North America Gem to design an airborne electromagnetic survey to focus on areas immediately surrounding the new coal discovery, which will determine the extent of this deposit. The widespread nature of the coal drill intercepts and historical data illustrate the widespread potential for coal deposits.

Geo has submitted funds in trust to the Saskatchewan permitting office and will move forward on the project in this exploration friendly province of Canada, once permits have been granted.

The company also announces that the private placement (see news in Stockwatch on May 20, 2008) has been changed from non-brokered to brokered. The sponsoring broker is Bolder Capital Partners.