Acquisitions of shares of Geoinformatics Exploration Inc. by Geologic Funds

Geologic Resource Partners LLC announced that it has acquired, through purchases made by funds controlled by it, by way of private placement, an aggregate of 586,560,000 common shares of Geoinformatics Exploration Inc. at a price of C$0.05 per share. In addition, Geoinformatics has issued an additional 31,977,209 common shares at a deemed price of C$0.0295 to certain of the Funds in respect of accrued interest on debentures issued by Geoinformatics. These debentures, in the principal amount of US$20,000,000, have been repaid by Geoinformatics with the proceeds from the private placement. This acquisition increases the Funds’ total beneficial share ownership of the funds to 642,628,524 common shares, representing approximately 82.3% of the issued and outstanding shares of Geoinformatics. GRP and the Funds have acquired the common shares for purposes of exercising control.

The Funds are Geologic Resource Fund Ltd., which purchased 287,414,400 common shares to hold 323,501,216 common shares (including 23,343,362 common shares issued in respect of the accrued interest on the debentures); Geologic Resource Fund LP, which purchased 99,715,200 common shares to hold 112,696,908 common shares (including 8,633,847 common shares issued in respect of the accrued interest on the debentures); Geologic Resource Opportunities Fund Ltd., which purchased 164,236,800 common shares to hold 169,612,072 common shares; and Geologic Resource Opportunities Fund LP, which purchased 35,193,600 common shares to hold 36,818,328 common shares.

GRP and the Funds may, depending on market and other conditions, on an individual or joint basis, increase or decrease its beneficial ownership of common shares of Geoinformatics, whether in the open market, by privately negotiated agreements, or otherwise.

This press release is issued pursuant to National Instrument 62-103 -Early Warning System and Related Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting John Kanellitsas, Chief Operating Officer at (617) 424-9900.