Geomark Exploration Ltd. Announces Receipt of $12.7 Million

Geomark Exploration Ltd. ("Geomark" or "the Company") (TSX VENTURE:GME) is
pleased to announce that it has received approximately $12.7 million of an
estimated $13.5 million contingent consideration from Perfora Investments
S.a.r.l. (Perfora). 


The contingent consideration was transferred to Geomark as part of the
Non-Meliadine assets, pursuant to an acquisition agreement between Comaplex
Minerals Corp. (Comaplex), Agnico-Eagle Mines Ltd. and Geomark (the
"Arrangement"). In December 2009, Comaplex acquired Meliadine Resources Ltd.
from Perfora (a wholly owned subsidiary of Resource Capital Fund III L.P.), by
issuance of 12,750,000 common shares of Comaplex. As part of the Purchase and
Sale Agreement, Perfora was required to pay additional consideration to Comaplex
for the issued common shares upon their sale based on a sliding scale for price
of shares sold. Under completion of the Arrangement, Geomark was entitled to
payment from Perfora under section 3.1 of the Perfora Share Purchase Agreement
estimated to be $13,500,000 (in the event that Perfora sells Agnico-Eagle Shares
received pursuant to the Arrangement at a price of at least $53.93 per
Agnico-Eagle Share). The remainder of the payment is expected to be received by
the Company in 2010. Geomark's cash position is now approximately $40,000,000.


Geomark Exploration Ltd. is a junior company headquartered in Calgary, Alberta
that explores for precious and base metals. The Company's business strategy is
to generate the majority of its prospects internally, acquire properties in
geologically favourable areas and conduct appropriate exploration programs to
develop their economic potential. Geomark is currently investigating and
developing its mineral assets and claims located in Ontario, the Northwest
Territories and Nunavut, as well as continuing to produce oil and natural gas in
the Western Canadian Sedimentary Basin.


Geomark Shares trade on the TSX Venture Exchange under the trading symbol "GME".

Geomark Exploration Ltd. (TSXV:GME)
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