FT. LAUDERDALE, Fla., Dec. 3, 2012 (GLOBE NEWSWIRE) -- Gemini Explorations Inc.'s, ("Gemini") (OTC:GMXS), today provided additional information regarding an exclusive option the Company recently announced to acquire an advanced stage milling and processing plant.
The Company would like to correct information provided in its previous release regarding the location of the milling and processing plant, which is in close proximity to Gemini's La Tapada gold property in Colombia's El Bagre-Zargoza mining district, not its La Planada property, which is located near Pasto, the capital city of Colombia's Nariño Province. Following extensive due diligence and final terms that are acceptable to both parties, Gemini will move the processing plant to La Tapada. The mill facility has very good infrastructure and is accessible by road providing lower costs to move equipment.
"This is an exciting development for the company as acquiring this milling and processing plant could fast track the development of our La Tapada gold project. We will be conducting extensive due diligence on the project during the option period and the first order of business upon acquiring the facility will be to have MPGS (Minera Primecap Geological Services) conduct a site visit to perform a full inspection of the milling and processing plant and take inventory of the equipment that is available. We anticipate this will be complete early in the first quarter and will provide updates as they become available."
About Gemini Explorations, Inc.
Gemini Explorations is focused on the development of two highly prospective gold projects in Colombia including a potential 3 million ounce deposit in the Los Andes Sotomayor Gold Belt with a potential asset value of approximately $4 billion at today's gold prices. Capitalizing on smart acquisitions, modern production techniques, deep industry expertise and the strong bull market for gold, Gemini Explorations is working quickly to achieve production, growth and value for shareholders. Gemini Explorations has assembled a portfolio of significant land holdings in Colombia's richly mineralized but under-developed gold districts including the La Planada and La Tapada gold properties.
Safe Harbor Statement
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. 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 2009 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission
CONTACT: Gemini Explorations, Inc. Michael Hill President & CEO 1-305-897-7120 Gemini Explorations, Inc. Suite 504, 1015 East Sunrise Blvd Ft. Lauderdale, FL 33304 firstname.lastname@example.org www.geminimines.comSource:Gemini Explorations, Inc.