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Geneva Resources, Inc. to Resume Core Drilling Program on Nigerian Property
RENO, Nev., Oct. 30 /PRNewswire-FirstCall/ -- Geneva Resources, Inc.
("the Company") (OTC Bulletin Board: GVRS) plans to resume its core
drilling program in Plateau State, Nigeria, during the first half of
November 2007.
The coring program includes two holes in the copper zone on the Jawando
lease and two holes in the zinc zone on the Gimbi lease located in the Wase
Local Government Area in the northern portion of the State. Both lease
areas exhibited very high values in a pit sampling programs conducted by
Geneva last summer. The representative copper sample from Jawando (Lease
1511) assayed 23.77% and the representative zinc sample from Gimbi (Lease
1510) assayed 54.02%. Assays were carried out at Acme Analytical
Laboratories in Vancouver, BC, an ISO certified testing facility.
The coring program will complete the due diligence of the copper, lead
and zinc on properties held by Allied Minerals. The cores recovered will be
split; half will be couriered to an ISO certified lab in Vancouver for fire
assay and half sent to secured storage in Jos. To this end, the terms of
the Property Financing and Operating Agreement between Geneva and Allied
have been revised to provide time to complete the work necessary to produce
due diligence review.
The coring program has been extended by heavy rains over the last three
months. Extreme local flooding, the heaviest in the last fifty years,
claimed the lives of more than twenty people and collapsed several area
access road bridges, isolating Wase and the mining target areas to the
north completely.
David Urquhart, a Canadian engineer based in Calgary, is in charge of
the program. He will supervise the drilling, collection, shipping and
storing of the core samples. Once the necessary assay work has been
completed, Mr. Urquhart will prepare and submit his due diligence report to
Geneva. The Company aims to complete the entire project so that it can meet
its obligations under the Property Financing and Operating Agreement with
Allied by mid December 2007.
Geneva Resources, Inc. is a mineral exploration company participating
in known mineral producing regions. The Company is focused on the
exploration and advancement of well-defined gold, copper and mineral
prospects. Geneva Resources' current exploration initiatives include
Central Peru; Nigeria, Africa; and Panama.
For further information see: http://www.genevaresourcesinc.com
Symbol: OTCBB -- GVRS; Frankfurt/Berlin Symbol -- R3M, WKN No.: A0MMCN;
ISIN: US3722371073
Contact North America: Investor Relations
Tel.: 866-418-6011
Contact Europe: Investor Relations
Tel.: +49-69-7593-8437
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, AS
AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF
1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY
HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS
REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS
DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE
SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS
TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS
EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL
FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT
INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR
"EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND
UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS
ASSOCIATED WITH PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN
IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM
10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION
REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE
REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL
REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS
EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE
COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY
ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF
THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES 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 THE COMPANY BELIEVES THAT THE BELIEFS, PLANS,
EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE,
THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS
WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION
SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE
COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO
TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND
THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS
RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE
SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE Geneva Resources, Inc.













