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Press Release Goldmarca Limited Goldmarca Limited 45B Old Curundu Road, Albrook, Panamá City, Republic of Panama Phone: (507) 3150015 Fax: (507) 3150082 info@goldmarca.com www.goldmarca.com TSX.V: GML Goldmarca intersects 2.1 g/t Gold Over 300 Metres including 4.3 g/t Gold

Over 100 Metres at Condor Gold Project April 23, 2007 – Panama City, Republic of Panama -- Goldmarca Limited (“Goldmarca”) [TSX.V: GML] is pleased to announce that at the Los Cuyes sector Condor Gold Project in Ecuador drill hole DCU-27 intersected 2.07 g/t gold over 300 metres including 4.3 g/t gold over 100 metres within a total drill intersection of 412 metres grading 1.7 g/t gold.. Hole DCU-27 intersected high grade gold values of 4 metres of 69.5 g/t gold and 6 metres of 11.6 g/t gold. See Table 1 below. (See Fig 1 and for geology map locating the breccia bodies and Figure 2 for the drill plan of Los Cuyes and Figure 3 for Los Cuyes cross section.).

TABLE 1 CONDOR GOLD PROJECT LOS CUYES DRILLING RESULTS APRIL 2007

HOLE ELEV M

DEPTH M

AZIMUTH O

DIP O

FROM M

TO M

INTERCEPT METRES

Au g/t

Ag g/t

Zn %

DCU-27 1472 480.2 222 -80 6 418 412 1.70 6.7 0.15 INCLUDING 6 306 300 2.07 7.2 0.08 INCLUDING 16 116 100 4.34 6.9 0.13 INCLUDING 18 22 4 69.5 47 0.50

AND 106 112 6 11.6 12 0.07 DCU-28 1543 566 233 80 0 552 552 0.16 4.9 0.01

The drill intercept of holes DCU 27 confirmed the continuity of the depth of mineralization of the Los Cuyes mineralized system. True width is estimated at 40 % to 60%. The step out drilling program to drill off the exploration potential in the known Los Cuyes block continues with success. Drilling is planned to a vertical depth of 500 metres over a surface area of 400 metres by 400 metres using a drill grid spacing of 50 metres by 100 metres. This will provide the basis to estimate revised inferred resources. The results from drill holes DSO-06, 07 and 08 at the Soledad sector are set out in Table 2 and depicted in Figures 4 and 5. The drilling program at Soledad is aimed at providing data for estimating measured and indicated resources. Step out drilling of other zones in the breccia camp will be drilled this year.

TABLE 2 CONDOR GOLD PROJECT SOLEDAD DRILLING RESULTS APRIL2007

HOLE ELEV M

DEPTH M

AZIMUTH O

DIP O

FROM M

TO M

INTERCEPT METRES

Au g/t

Ag g/t

Zn %

DSO-06 1621 586 180 -75 0 576 576 0.48 11.6 0.44 INCLUDING 0 512 512 0.52 10.5 0.44 INCLUDING 0 316 316 0.74 11.6 0.50 INCLUDING 0 156 156 1.24 12.3 0.64 INCLUDING 0 72 72 2.02 11.4. 0.50 DSO-07 1621 493.5 180 -50 0 468 468 0.41 5.9 0.36

INCLUDING 0 114 114 0.82 8.0 0.70 AND 432 468 32 1.29 8.9 0.82

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TABLE 2 CONT’D CONDOR GOLD PROJECT SOLEDAD DRILLING RESULTS APRIL 2007

HOLE ELEV M

DEPTH M

AZIMUTH O

DIP O

FROM M

TO M

INTERCEPT METRES

Au g/t

Ag g/t

Zn %

DSO-08 1621 360.4 180 -60 0 316 316 0.39 4.4 0.39 0 200 200 0.56 4.6 0.49 0 64 64 1.21 9.4 1.02

At the smaller breccia pipe Guayas, results for drill holes DGU-05 to DGU-13 are reported in Table 3 below.(See Figure 6).

TABLE 3 CONDOR GOLD PROJECT GUAYAS DRILLING RESULTS APRIL 2007 HOLE ELEV

M DEPTH

M AZIMUTH

O DIP

O FROM

M TO M

INTERCEPT METRES

Au g/t

Ag g/t

Zn %

DGU-05 1469 100.5 190 -52

0 34 34 1.35

5.4 0.50

DGU-06 1469 103.5 10 -75 0 36 36 0.85 5.1 0.73 DGU-07 1469 97.5 10 60 0 20 46 0.84 3.4 0-55 DGU-08 1469 102 245 -48 0 30 30 1.62 8.9 0.92 DGU-09 1469 95.5 245 -60 0 50 50 1.97 10.0 1.06 DGU-10 1469 79.5 65 -45 0 52 52 0.84 3.8 0.44 DGU-11 1469 82 140 -75 0 50 50 1.38 6.6 070 DGU-12 1469 46 140 -60 0 16 16 0.55 2.1 0.32 DGU-13 1469 71.5 140 -45 0 26 26 0.94 3.3 0.37

The drill results demonstrate the potential for disseminated gold mineralization at the Los Cuyes and Soledad and other sectors at the Condor Gold Project, within the mineralized envelopes. These breccias represent a window of a large breccias system “inside” a camp with surface dimensions of 2.5 kilometres by 2.5 kilometres and 500 metres in depth. The breccia camp includes the following: San Jose, Bonanza, Soledad, Guayas, Buena Esperanza, Brechas Negras, Gossan Luna, Los Cuyes, Pangui and Reina del Cisne). These breccias have been localized by mapping, geophysics and drilling. The breccia mineralization is apparently structurally controlled. The geophysical programme at Condor has been completed and the anomalies are being interpreted for future drill hole targeting. The plan is to continue to drill the known breccias to define resources and drill exploration targets aided by previous drilling, geological/structural interpretations and geophysics. The Condor geological model (lower zone – breccias) has close similarities in the structural framework and shaping to the Pascua Lama Gold Deposits in Chile with an additional disseminated type in upper zones in volcano-clastic cover. Drilling is comprised of NQ diamond core with recovery close to 100%. The core samples are sawed in half and half the core was crushed and pulverized and then assayed for gold, silver and zinc at the ACME Laboratory Vancouver, Canada by fire assay with an ICPAES or gravimetric finish. Sample preparation was performed by ACME´s sample preparation facility in Cuenca, Ecuador. As part of quality-assurance, quality-control (QA/QC) certified standards of known gold content are inserted every 20 samples, blanks were inserted every 20 samples and field and laboratory blind duplicates taken every 20 samples. The other half of the core is retained on site for verification and reference purposes.

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Eccolmetals Geochemical surveys, geological mapping and structural interpretation works are continuing at Eccolmetals A news release will be provided when the results of the current activity have been received. Dr Howard Lahti, Ph.D. Geology is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy. On behalf of the Board of Directors, Robin Slaughter, President and Chief Executive Officer ABOUT GOLDMARCA: Goldmarca Limited (TSX.V: GML) is an international mining company that is engaged in adding value to gold and base metal projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol “GDQ.” For more information, please visit www.goldmarca.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Safe Harbor Statement: Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company’s ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.

Robin Slaughter, President & CEO, Goldmarca Limited T. 507.66714370 Nick Demare, Director & CFO, Goldmarca Limited T. 604.685.9316 or E: info@goldmarca.com

For further information, please contact:

Tracy Weslosky and Fred Cowans, Managing Partners, Pro-Edge Consultants Inc. T: 866.544.9622 or 416.581.0177 E: info@pro-edge.com

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