Geo Minerals: option-to-earn 100% interest

Acquisition
As of August 27th 2009, Geo Minerals has acquired a lease-option agreement with Bronco Creek Exploration Inc. to earn a 100% interest on the Silver Bell West porphyry copper property located in south-central Arizona. The transaction states that Geo Minerals must incur CAD$2,000,000 in work expenditures, pay cumulative advanced royalty payments of US$505,000, issue a total of 800,000 common shares over a 5 year term as well as a 2.5% NSR with a provision to buy back 0.5% for CAD$1,000,000 by the 7th anniversary.

Property Overview
The Silver Bell West property, located roughly 30 miles northwest of Tucson, consists of 188 mining claims on more than 3,700 acres immediately adjacent to Asarco’s active Silver Bell Mine. Geo is targeting porphyry copper and copper skarn mineralization in structurally down dropped blocks lying adjacent to exposed mineralization currently being exploited by Asarco LLC. Previous field work done by Bronco Creek geologists revealed several lines of evidence pointing to multiple target areas within 2 largely untested zones of possible skarn and porphyry-style copper mineralization. Zone 1 lies in the southeast portion of the property, where copper-rich skarn mineralization and related porphyry-style mineralization are projected to underlie outcropping mineralized rocks. Zone 2 comprises the western portion of the property, where new alteration mapping, along with faulted and offset portions of structural blocks, is interpreted to contain known trends of porphyry copper and skarn mineralization beneath cover rocks to the west of outcropping mineralization. Ten drill sites were then permitted on the property.

Looking Ahead: Approved Work Program
A work program has been approved for Zone 1 in the southeast portion of the property. Ten drill sites are permitted on the basis of geological mapping, and a ground geophysical survey using magnetics and/or IP will be implemented to prioritize the drill sites. Drilling anticipated to begin late in q2 2010.