GOLDMARCA ACQUIRES AFRODITA PERU - TWIN SISTER TO THE CONDOR GOLD PROJECT ECUADOR

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1 AFRODITA PRESS RELEASE Goldmarca Limited 45B Old Curundu Road, Albrook, Panamá City, Republic of Panama Phone: (507) Fax: (507) Goldmarca Limited TSX-V: GML GOLDMARCA ACQUIRES AFRODITA PERU - TWIN SISTER TO THE CONDOR GOLD PROJECT ECUADOR Panama June : Goldmarca Limited (TSX-V:GML) is pleased to announce it has entered into an option agreement to acquire the Afrodita Gold Property in Peru held by Compania Minera Afrodita SAC. Goldmarca s Condor Gold Project in Ecuador adjoins Afrodita on the border between Ecuador and Peru. See Figure 1 attached. The Afrodita mining concessions comprise 5000 hectares bringing Goldmarca s accumulation of mining concession rights in the Condor Corderilla to more than 13,000 hectares. Goldmarca s Condor Gold Project and Afrodita are separated by a summit of the Cordillera Condor which straddles Ecuador and Peru. In other words Afrodita in Peru is geologically the twin sister of the Condor Gold Project in Ecuador Agreement Terms: Under the terms of the agreement, Goldmarca has an option to acquire a 100 % interest and has agreed to pay $US 250,000 in option payments ($US 50,000 on signing) over two years. Goldmarca will expend $US120,000 on development and sampling of underground workings and complete 3000 meters of drilling. Goldmarca has agreed to pay $6 per inferred resource ounce of gold of inferred resources. However if additional drilling is warranted the purchase will be based on indicated resources. Under this scenario the option can be extended by one year by completing an additional 3000 metres of drilling. The purchase price so calculated will be paid over four years post exercise or option with a floor price of $US 2.5 million less option payments. The resource estimates will be prepared by a qualified person under TSX policy in compliance with the CIM code. In addition to paying $6 per ounce over 4 years post exercise of the purchase option Goldmarca has agreed to have available a treatment plant of minimum 100 tonnes per day. (Goldmarca is planning to develop a gold treatment plant at the Condor Gold project this year). When in production Goldmarca will pay between 5 and 6% royalty on the underground extraction of veins and 2.5% on open pit production. Previous Work: Anglo gold worked on the property from 2003 to 2004 and undertook a detailed sampling and mapping programme. Anglo took 674 rock pit simples where taken to evaluate biogeochemistry, stream sediment and rock chip anomalies They identified five zones Extension of the El Hito porphyry system in Ecuador to Peru Cobra 1 Top-to-bedrock pitting confirmed the north-south structure with isolated elevated gold valuesthe centre point of the anomaly is E, N. Casa Quemada The anomaly is structural controlled with potential for underground vein mining. Conguime The extensive pitting over 800m vertical extent exposed a centre core of porphyry surrounded by hornfelsed and variably pyritized andesitic volcanics grading into strongly propylitized andesite. A stock of weakly silicified, but strongly carbonate-pyrite altered dioritic body is well exposed at E, N. The overall Conguime area displays very isolated, scattered localities enriched in Ag, As, Mo, and Pb. More coherent values exist for Cu and Zn. 1

2 El Tambo The overall speculative exploration potential of 300mx300m stock work zone of bulk potential and potential for high grade shoots. The El Tambo exploration map identified 10 structures with potential of high grade shoots. El Tambo was rated as the most prospective sector. It is for this reason that the focus of the Afrodita agreement is on El Tambo sector. From Historical Data (Anglo Gold Report May 2004 written by Rudi Jahoda) Photo 8: El Tambo, altered and deformed volcaniclastic rock, R The photo depicts an example of another type of gold/polymetallic(ag,cu,pb,zn) Exploration Target in the EL Tambo area. Photo 8 is an extract from a report entitled: CORDILLERA DEL CONDOR DATA COMPILATION, Anglogold Exploracion Peru S. A. C. by Rudi Jahoda, Contracting Geologist-Lima Peru May Proposed Work Program Following up on the Anglo Gold work Goldmarca it is planned to complete up to 6000 meter drill program (3000 mt. + possible 3000 mt?.) drilling program over El Tambo sector. Here Anglo Gold identified a gold anomalous stock work zone in volcanics that covers an area of 300 x 300 meters. According to Anglo s report El Tambo is most prospective gold target in the form of potential for multiple. mineralized gold shoots. Exploration mapping prepared by Anglo also identified ten 2

3 structures at El Tambo with potential for high grade mineralized gold shoots and veins. Afrodita is also well known in the informal mining community for exploitation of high grade gold narrow vein structures. Goldmarca work plan consists in funding an underground program that involves extending underground workings to more clearly define the vein structures. It is believed these veins are an extension of the same narrow vein structures that have been defined of the Afrodita project known to be the extension of the Condor Gold projects (Ecuador) Chinapintza vein system. Since acquiring the Condor Gold Project, Goldmarca has significantly enhanced the value of the Condor project by increasing the known resource estimate. The current estimated inferred resource is 53.8 million tones of 1 gram per tonne gold or 1.7 million ounces.see NI filings October 15 and November The Project is located in northwestern area of Peru in the border between Peru and Ecuador where several concessions of both countries are colliding. In Ecuador Goldmarca has an established, dedicated and experienced exploration team with extensive geological knowledge and information of the area. They are readily available to coordinate and advance the work program in Peru. Robin Slaughter, Goldmarca's President and Chief Executive Officer, said: : "The Afrodita project is an important gold and silver development project and will fit in exceptionally well with our strategic growth initiatives Goldmarca's local Gold experience and knowledge, together with its capability to treat the Afrodita gold ore, will add considerable value to the Goldmarca and its Condor Gold Project.". "At the Condor Project in Ecuador some meters of drilling have identified 1.7 million ounces of inferred gold resources and with more resources to be estimated from the current drilling programs. Similar potential exists at Afrodita however the extensive drilling is needed to unlock the geologic potential. Dr Howard Lahti Geologist, Qualified Person, is responsible for the technical content of this news release. Dr Lahti is preparing a report on the Afrodita project. A finders fees of 500,000 shares is payable on the transaction, 100,000 shares on regulatory acceptance. The balance is payable in stages depending upon certain project milestones being achieved. The Afrodita agreement is subject to regulatory approval. On behalf of the Board of Directors, Robin Slaughter, President and Chief Executive Officer ABOUT GOLDMARCA Goldmarca Limited (TSX-V: GML) is an international mining company that is engaged in adding value to gold and base metal projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol GDQ. For more information, please visit The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Safe Harbor Statement:Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company s ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates 3

4 include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred resources will be converted to measured and indicated categories through further drilling, or into mineral reserves once economic considerations are applied. FOR FURTHER INFORMATION, PLEASE CONTACT: Robin Slaughter President & CEO Tel (011Nth Amer.) or Nick Demare Director and CFO or to 4

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