May 20, 2008 – Geovic Mining Corp. ("Geovic" or "The Company", TSX:GMC), on behalf of its 60%-owned subsidiary Geovic Cameroon PLC (GeoCam), is pleased to announce three key appointments as it rapidly moves toward construction of its Nkamouna Cobalt-Nickel-Manganese project in Cameroon, Africa.

Johann du Preez has been appointed Construction Manager, and is charged with overseeing all major construction at Nkamouna, currently scheduled to commence in late 2008. Mr. du Preez has more than 30 years experience as a construction manager, principally with African mineral processing plants and infrastructure improvements. He has overseen 18 separate projects totaling U.S. $5.4 billion, last working as resident construction manager at the Kolwezi copper/cobalt project in the Democratic Republic of Congo. As Kolwezi is expected to be one of the world's largest copper/cobalt processing plants, Mr. du Preez is uniquely qualified to enhance the engineering and design of Nkamouna, and subsequently lead its construction effort.

Anthony Mills has been appointed Engineering Project Manager to serve as GeoCam's primary liaison and representative to the engineering and design Alliance, consisting of Bateman International Projects BV, Roberts & Schaefer Australia Pty. Ltd., and Group Five Projects Pty. Ltd.. The Alliance is principally based in Brisbane, Australia where Mr. Mills recently located, and is continuing under a Professional Service Agreement that has been extended until negotiations are complete on a comprehensive engineering, procurement and construction management agreement between the Parties. Mr. Mills has more than 40 years of experience in project management, engineering, and construction, including more than 30 years with mining and mineral processing projects. Mr. Mills previously served as Project Manager with engineering and construction companies specializing in the mineral industry, including Fluor, Mineral Resource Development Inc., and Kvaerner.

Andrew Ramcharan has been appointed Manager, Technical Services, based in the Company's home office in Grand Junction, Colorado. His primary responsibility will be optimization of the Cameroon mining plans, and secondarily to assist Geovic in the evaluation of new projects. Mr. Ramcharan has more than 10 years experience as a Mining Engineer/Analyst, specializing in three-dimensional geologic modeling, resource/reserve estimation, and all aspects of project planning/execution. A graduate of and PhD candidate from the Colorado School of Mines, he has already worked on more than 50 projects in five continents.

These markets are amazing. Everywhere I look I see people cowering in fear under the covers because the talking heads on CNBC and CNN have again reminded them that the end of world is nigh at hand and that the US is fast tracking its way into Recession.

Well, the smart money is having none of the "R" word. In fact smart money right now is having a shopping spree like it has not seen in a good couple years. And what a spree it is. Investors are fleeing the resource sector like rats running from a sinking ship.

Every bull market takes with it as few passengers as possible. What we are seeing right now, is nothing more than a whistle stop for the train. Weak kneed investors are tripping over each other to get off the train and the smart money is laughing all the way to the bank. As people run away scared, one of the things the smart money is loading up on is resource opportunities in Africa.