Geovic Mng Corp (GVCM)

Geovic Mining Corp was incorporated under the Business Corporations Act (Alberta, Canada) on August 27, 1984. The principal business of the Company has been conducted through Geovic by which it holds its interest in rights to several cobalt-nickel- manganese deposits in the Republic of Cameroon in Africa through the ownership interest in GeoCam. Its principal business focus from 1994 to 2013 has been to advance its interest in the deposits. GeoCam's Mining Permit (the "Mining Permit") establishes exclusive mining rights to develop the Nkamouna, Mada and other cobalt-nickel-manganese deposits within a 1,250 square kilometer area in southeastern Cameroon (the "Cameroon Properties"). The Company's projects includes Cameroon Cobalt - Nkamouna and New Caledonia - Mineral Sands. The Nkamouna and Mada deposits are located in southeastern Cameroon (Figure 1.), approximately 640 road kilometers east of the port city of Douala and 400 road kilometers east of the capital of Yaoundé, in the Haut Nyong Division, East Province. The deposits are adjacent to improved roads that have been constructed to provide access. In 2009 it formed a subsidiary in New Caledonia, a French overseas island northeast of Australia in the South Pacific, to explore for chromite. Once prospecting licenses were issued, it applied for, and in early 2011 were awarded, 31 exploration licenses covering 100 square kilometers including the large historic resource identified by Union Oil Company ("Unocal") in the mid 1980s. Figure 3 shows the location of these licensed areas, with the highlighted areas indicating its estimates of extent of ultramafic material that could be considered a source rock for the chromite.