Goldmark Minerals Ltd. Announces First Six Month Results

CALGARY, July 29 /PRNewswire-FirstCall/ — Goldmark Minerals Ltd. (TSX-V:GMK) announces its financial and operating results for the six months ending June 30, 2008.

During the first half of 2008, Goldmark reported revenue of $29,000 entirely generated from interest income. In the same period of 2007 the Company realized a gain of $220,000 on the sale of assets in Alaska and the Yukon. Overhead costs totaled $83,000 compared with $150,000 in 2007. Other costs for the period include non-cash compensation of $25,000 for the first half of 2008 compared to $74,000 in 2007. The company also incurred $32,000 on the evaluation of the proposed asset purchase in Alaska and Chile, which it subsequently decided not to complete. As a result the Company reported a loss of $110,000 compared with a loss of $132,000 in 2007. Goldmark finished the first half of 2008 with a strong work capital position of $1.5 million and no long term debt.

Property Acquisition and Exploration

During the first Half of 2008 Goldmark’s activity consisted of the assessment of a number of Prospects in Alaska and South America. No work was conducted on the property in Ecuador as Goldmark is evaluating the effect of the proposed new mining mandate in Ecuador.

Business Outlook

Goldmark’s business plan has been to capitalize on cyclically high metal prices, driven by growing world demand, by developing an opportunistic approach to the acquisition of property, along with an exploration program in Ecuador, Peru, Chile and Alaska.

Goldmark is continuing to review a series of opportunities and remains optimistic that the growing demand in metal and the current limited supply will result in significant opportunities for the Company in 2008.

   Financial Summary                                           Six months ended June 30,                                       2008            2007            2006   ————————————————————————-   Revenue                      $    28,828     $   219,550      $        –   Earnings (loss) and    comprehensive income for    the period                  $  (110,289)    $  (131,767)     $  (19,025)     per share, basic and      diluted                   $     (0.01)    $     (0.01)     $     0.00   Total assets                 $ 1,789,285     $ 2,148,075      $  110,650   Working capital              $ 1,543,332     $ 1,863,416      $  (95,416)   ————————————————————————-   

Further details on the company’s projects are available on the Goldmark Minerals website at http://www.goldmarkminerals.com/.

Forward-looking statements – the press release today contains “forward-looking” information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Goldmark Minerals Ltd.

CONTACT: Peter Barker, Chief Executive Officer, GOLDMARK MINERALS LTD.,Telephone: (403) 299-0357; Robert W. Lamond, Chairman of the Board, GOLDMARKMINERALS LTD., Telephone: (403) 269-9889, Fax: (403) 269-9890,Website:www.goldmarkminerals.com