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Toronto Stock Exchange: GMCU.S. Over-the-Counter: GVCM

w w w . geovic . net

The Cobalt Company

2008

Investors PresentationGrand Junction, Colorado

May 21, 2008

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This presentation contains certain forward looking statements about

production, costs, markets, competition, regulatory and environmental issues, earnings, cash flow, commodity prices, reserves, resources, drilling, and other considerations, as specified in the various documents filed by Geovic Mining Corp. on the website www.sedar.com, pursuant to Canadian

and TSX regulations and with the US Securities and Exchange Commission. These statements are not guarantees of future performance and are based upon Geovics current expectations and beliefs, subject to a number of known and unknown risks and uncertainties that could cause actual results to differ

materially from those described herein.

Safe Harbor Statement

Currency is in US Dollars

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Strong growth mainly in rechargeable batteries (HEVs) but also in jet engines will continue to drive cobalt demand

Cameroons huge resources and political stability will positively impact global cobalt markets indefinitely

Geovic can become the largest primary cobalt producer

Significant upside to reserves/resources

Competitive capital and operating costs

Management has placed numerous mines into production

Strong cordial relationship with Cameroonian government

Summary

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CobaltA Strategic Hightech Element

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0

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J - 0 0

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Cobalt Price, US $/lbMonthly Average

3Year

Average 2005 2007

May 2008 Spot Price

Geovic Cash Cost (2006 Cost/lb)

$ 49.00

$ 21.12

$ 3.12

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Project Location

400 km from capital of Yaound

640 km from seaport of Douala

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Reserves & ResourcesMine Permit: 1,250 sq km

NkamounaProven & probable reserves

54 million tonnes of ore at0.25% cobalt and 0.69% nickel

MadaInferred resource

145 million tonnes0.21% cobalt and 0.48% nickel

Five Other

DepositsTotal mineral area = 337 sq km

12 million tonnes of concentrates at 0.7% cobalt and 1.0% nickel

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Favorable Project Characteristics Cameroon cobalt mineralization is higher grade and coarser

size than all other known laterite deposits.

Cobalt grade is upgraded three fold using lowcost washing

and sizing similar to simple sand and gravel operations.

Shallow open pit (less than 16 m deep) allows concurrent backfilling & reclamation. Blasting not needed.

Project plans are environmentally friendly and will create long term sustainable development (450 permanent employees)

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Shallow & High Grade Mineralization

Coarse, Hard Cobalt -

Nickel - Manganese Mineral

Concentrate: Crushed,washed & sized

Waste

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Nkamouna After

Tax

Economics

*As of Year end 2006

IRR: 56 % 3year average prices: $20/lb Co and $11/lb Ni Current prices: $49/lb Co and $12/lb Ni

Payback: 2 years First full year: 5,000 tonnes cobalt

Cash Flow: $101 million First full year: 100% basis, 70% attributed to cobalt production

NPV 8%: $704 million 100% basis, 19year life$422 million Geovic share at 60%

* Financial performance to improve with production of manganese carbonate

Source: WGI FFS and 43-101 Technical Report by Pincock Allen & Holt

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Primarily trades on the Toronto Stock Exchange (TSX), under

symbol GMC.

Also

trades

in

the

U.S.

Over

the

Counter

market under symbol GVCM

Company plans to list on other U.S. exchanges to increase

liquidity and transparency

Average daily volume of approximately 250,000 shares, combining U.S. and Canadian trading

52Week data (Cdn $/share): Low $1.02

High $4.00

Current $1.40

Geovic Share Trading

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Nkamouna Project Financing Nkamouna capital estimate of $398 million will likely be

reduced by the upcoming Optimization Study (July 2008) Debt financing assumed at 55% of the project total is $219

million. Equity component at 45% is $179 million

Geovic is responsible for 60% of equity, or $107 million Geovic has $75 million of cash plus $15 million credit from past

advances on

behalf

of

GeoCam

minority

shareholders

Thus, Geovics additional equity needs for the Nkamouna project are modest

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Corporate Background1995 Incorporation of Geovic Cameroon PLC (GeoCam)

2002 Mining Convention issued

2003 Mine Permit decreed

2007 Geovic Mining Corp. graduated to TSX

2008 E Begin construction on Nkamouna infrastructure2010 E Commence production at Nkamouna late in year

Ownership of GeoCam %Geovic, Ltd. (GMC owns 100%) 60.0Geovic Pres. & Founder 0.5Cameroon Invest Corp. 20.0Four Cameroonians 19.5

US $30 million invested in GeoCam since 1995 2008

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GeoAid Humanitarian Program GeoAid established in 1999 to promote local business, improve

education/health services and create sustainable development

Project development plan includes $3.5 million for health, education, industrial training and micro industry loans

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Jack Sherborne Chief Executive Officer Geologist with 39 years executive experience in resources industry

William Buckovic President (Director Geovic Cameroon)Geologist with 34 years exploration and development experience

David Beling Executive V.P. & COO (Director GeoCam)Mining Engineer with 44 years senior executive and operational

experience. Constructed, financed and operated international mines Gary Morris Sr. Vice President (Chairman GeoCam)

Geologist with 35 years mineral exploration, land, resource and environmental management experience

Greg Hill Chief Financial OfficerFinancial officer with over 30 years finance and strategic planning experience in minerals, energy and technology

Johannes du Preez Construction Manager

More than 30 years construction management experience with mineral processing plants and infrastructure installations, principally in Africa

Extensive Management Experience

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Jul 08 Completion of all government permitting requirements necessary to construct and operatePublication of Nkamouna Feasibility Optimization Study

Sep 08 Upgrade U.S. stock listing to OTC Bulletin BoardNov 08 Commencement of major Nkamouna construction

Dec 08 Updated resource estimates from additional drilling at Nkamouna and adjacent Mada properties

Jun 09 Anticipated completion of project debt financing

Upcoming Milestones

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Strong growth mainly in rechargeable batteries (HEVs) but also in jet engines will continue to drive cobalt demand

Cameroons huge resources and political stability will positively impact global cobalt markets indefinitely

Geovic can become the largest primary cobalt producer

Significant upside to reserves/resources

Competitive capital and operating costs

Management has placed numerous mines into production

Strong cordial relationship with Cameroonian government

Summary

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Toronto Stock Exchange: GMC

U.S. Over-the-Counter: GVCM

w w w . geovic . net

The Cobalt Company

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743 Horizon Court (970) 256 - 9681Grand Junction, CO 81506 www.geovic.net

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Geovic Field Compound

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Access Road

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GeoCam Drilling

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Cameroon Capitol of Yaounde