Gemini Exploration (fka GMXS)

[OG_Money]

this one....

http://biz.yahoo.com/iw/070913/0301865.html

Gemini Explorations Inc. Update on the Los Chorros Gold Mine Project
Thursday September 13, 10:00 am ET

Los Chorros Gold Mine: A Producing Gold Project in Antioquia, Colombia

MIAMI, FL--(MARKET WIRE)--Sep 13, 2007 -- Gemini Explorations Inc. ("Gemini") (OTC BB:GXPI.OB - News) is pleased to announce that it has provided the first payment of US$10,000 for the acquisition of the Los Chorros Gold Mine, a producing gold property in the El Bagre-Zargoza mining district, department of Antioquia, Colombia. Gemini has acquired an 80 percent majority controlling interest in the property for the sum of US$100,000 and the issuance of 2,500,000 restricted shares of GXPI. The cash portion will be paid in three separate payments of which US$10,000 is to be provided within 10 days of the Effective Date, US$40,000 is to be provided within 60 days of the Effective Date and the balance of US$50,000 is to be provided within 90 days of the Effective Date. The 2,500,000 restricted shares will be issued within the first 60 day period. Gemini has first right of refusal to acquire the remaining 20 % interest in the mine within 18 months of the Effective Date.

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Gemini further reports that additional sampling results processed at the labs of INSPECTORATE AMERICA CORPORATION (Inspectorate), Nevada, USA will be released for the Los Chorros Gold project within 10 days.

With gold prices trading at over $700 per ounce, the Los Chorros Mine presents an excellent opportunity for Gemini to take advantage of the near record high gold bullion prices and provides an internal source of cash flow to fund its ongoing development and exploitation of its wholly owned La Planada Gold Project, a potential multi-million ounce gold deposit in southern Colombia.

Historically one of the largest gold producing countries in the world, Colombia's vast mineral potential has remained virtually unexplored using modern exploration and mining techniques. The Department (Province/State) of Antioquia alone produces over 1,000,000 ounces of gold per year currently, and most of it is produced from antiquated production equipment and facilities. Driven by a new era of political and economic stability and an investment-friendly mining code, Colombia has emerged as one of the resource sector's most attractive new mining frontiers.