Geovic Mining Corp announces equity financing


    Trading Symbol: GMC/GMC.WT/GMC.WT.A

    VANCOUVER, April 10 /CNW/ - Geovic Mining Corp. (TSX-V: GMC/ GMC.WT/
GMC.WT.A) (the "Company") announced today that it has filed a preliminary
short form prospectus in the provinces of Alberta, British Columbia, and
Ontario in connection with an overnight-marketed public offering (the
"Offering") of units. Each unit will consist of one common share and one-half
of one common share purchase warrant. The Offering will be conducted through a
syndicate of underwriters led by Canaccord Adams Limited. The Company has
granted the underwriters an over-allotment option to purchase that number of
additional units equal to up to 15% of the units sold pursuant to the
Offering, exercisable at any time up to 30 days from the closing of the
Offering. The Offering is subject to certain conditions, including regulatory
    The Offering will be priced in the context of the market with final terms
of the Offering to be determined at the time of pricing. The Company intends
to use the net proceeds of the Offering to fund further development and
exploration at the Nkamouna and Mada Projects, complete a feasibility study on
the Nkamouna Project, initiate pre-construction activities at Nkamouna, for
potential acquisitions and for general corporate purposes.
    The Offering is expected to close on or about April 26, 2007.

    Certain statements contained in this news release constitute
forward-looking statements. Such forward-looking statements involve a number
of known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company's plans to
differ materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date the statements were made, and readers are advised to
consider such forward-looking statements in light of the risks set forth in
the Company's Annual Information Form dated January 27, 2007, a copy of which
is available at
    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The common
shares have not been and will not be registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this press
    release, which has been prepared by management.

For further information:

For further information: Geovic Mining Corp., John Sherborne, (970)

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Geovic Mining Corp.

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