PANAMA, Jul 12, 2006 (Canada NewsWire via COMTEX News Network) --
Goldmarca Limited (TSX-V:GML) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
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 mineral 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 www.goldmarca.com.
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