Geovic Mining Corp. provided an update on progress at the Nkamouna cobalt-nickel-manganese Project in Cameroon, Africa, as well as an update on status of financing and product sales. The Company has intentionally limited its activities in order to conserve cash until such time as Project debt and equity financing arrangements are in place. However, certain technical and environmental programs were undertaken pursuant to commitments with government and/or in the interest of making sure that the metallurgical process was fully demonstrated. ESA Update - The Nkamouna Project obtained its environmental authorizations from the Republic of Cameroon in 2007. In a letter dated 3 September 2010, the Ministry of Environment and Protection of Nature confirmed that the 2007 authorizations remain valid, but requested that the Environmental and Social Assessment (ESA) document be updated for consistency with the Lycopodium Feasibility Study. Geovic Cameroon retained Knight Piesold and Co. of Denver, Colorado, USA and Rainbow Environment Consult SARL of Yaounde Cameroon, the original ESA authors, to update the documents as requested by the Ministry. The updated ESA was completed on April 30, 2011 and has been posted on the Company website since that time. It was submitted to the Ministry in May, 2011 and is fully aligned with the plans presented in the Feasibility Study. Critical Habitat Fieldwork - Among the component plans presented in the updated ESA was a Biodiversity Management Plan. This plan called for additional fieldwork to assess the quality of the habitat in and around the Project area to support a variety of flora and fauna species. Hydrosizer Demonstration - The only element of the metallurgical process that remained undemonstrated after the Feasibility Study was the use of hydrosizing equipment for removing fine waste from the coarser, heavier concentrate. All other aspects of the metallurgical process had been fully demonstrated using continuous pilot-scale testing and/or bench scale testing.