Geovic Mining Corp.

Annual Report:

Income Statement: As of Dec. 31 Thou. US Dollar	2008	2007	2006
EXPENSES
General and Administrative	(6,382)	(3,276)	(1,593)
Exploration Costs	(27,464)	(9,189)	(3,465)
Stock based Compensation	(2,466)	(2,111)	(1,052)
Depreciation	(244)	(76)	(39)
Mineral Property Impairment	(3,244)
Interest and Bank Charges	(152)	(59)	(9)
Interest Income	1,132	3,235	176
Minority Interest (Before Tax)	11,501	3,214
Earnings before Taxes	(27,319)	(8,262)	(5,982)
TAXES AND OTHER EXPENSES
Provision for Income Tax	436	414	(860)
Net Income (Loss)	(26,883)	(7,848)	(6,842)
SUPPLEMENTARY INFO
Basic and diluted Eps-continuing Operations	(0.26)	(0.09)	(0.16)

Balance Sheet: As of Dec. 31 Thou. US Dollar	2008	2007
CURRENT ASSETS
Cash and Cash Equivalents	64,184	78,479
Income Tax Receivable	458	404
Prepaid Expenses	444	161
Other Current Assets	673	349
Total Current Assets	65,759	79,393
NON CURRENT ASSETS
Mineral Properties		2,822
Property, Plant and Equipment, Net	4,742	664
Deposits	23	57
Total Assets	70,524	82,936
CURRENT LIABILITIES
Accrued Liabilities and Other Payables	5,176	1,553
Total Current Liabilities	5,176	1,553
NON CURRENT LIABILITIES
Minority Interest	9,144	1,878
Other Liabilities	1,023	241
Related Party Payables	152
SHAREHOLDERS' EQUITY
Common Stock-par Value	10	10
Additional Paid in Capital	106,648	104,000
Deficit Accumulated during the Development Stage	(67,377)	(40,494)
Stock Purchase Warrants	15,748	15,748
Total Shareholders Equity	55,029	79,264
Total Liabilities & Shareholders Equity	70,524	82,936

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