gold at 0.17GOLDMARCA REPORTS ENCOURGING DRILL RESULT OF 25 METRES OF 3.3 G/T GOLD (TABLE 1) DRILLING IN PROGRESS AT THE CONDOR GOLD PROJECT PANAMA March 14 2005: Goldmarca Limited (TSX-V:GML) is pleased to announce encouraging drill results at the Condor Gold Project in south-eastern Ecuador in the Los Cuyes Sector. See Table 1 below. The project contains inferred gold resources 1.7 million ounces as reported in a National Instrument 43- 101 Compliant Report dated October, 2004. See News release Dated February 24 2005. This report is available on SEDAR. Goldmarca is pleased to report the results of the initial 9 holes of near surface drilling at the Condor gold project Los Cuyes Sector. Drill hole DCU -08 intercepted 25 meters of 3.3 g/t gold including 7.5 meters of 9.3 g/t gold and 2 meters of 18 g/t gold. See Table 1. The objective of the current drill campaign at Los Cuyes is to delineate a resource at a grade of greater than 2.5 g/t gold. The above information has been prepared under the supervision of Mark Cannuli P.Geo. M.Sc. Vice President of Exploration and the designated qualified person on the Condor project with the ability and authority to verify the authenticity and validity of the data. The field work is supervised by Mark Cannuli who is the project " Qualified Person" under the definition of National Instrument 43-101. Los Cuyes Summary (See Table 1 above and Figures 1 and 2 attached) Inferred Resources are 26.4 million tonnes of 0.9 g/t gold.(796,000 ounces) . • Geological interpretation suggests the drill intercept from hole DC001 of 35 meters @ 3.9 g/t gold could represent an extension of the channel sampled pit 150 meters to the south west and the new intercept in Drill Hole DCU-08 of 25 meters of 3.3 g/t gold. • The drilling program will test the continuity of higher grade zones at depth and along strike. 2500 meters of drilling are planned. TABLE 1 INITIAL DRILL RESULTS LOS CUYES SECTOR MARCH 2005 HOLE E N Z AZIM DIP LENGTH FROM TO INTERVAL AU AG ZN M M M ° ° M M M M G/T G/T % DCU-01 1025 2567 1368 315 -65 39.9 0 22.5 22.5 0.5 15.9 0.18 DCU-02 1033 2560 1367 315 -50 44.7 15 30 15 0.3 12.9 0.14 DCU-03 1110 2573 1369 315 -50 15.5 NO SIGNIFICANT MINERALIZATION DCU-04 1001 2571 1368 315 -50 24.1 NO SIGNIFICANT MINERALIZATION DCU-05 989 2580 1372 135 -55 55.0 34.5 47.5 13 0.3 6.9 0.64 DCU-06 987 2580 1372 315 -60 15.0 3 5.8 3.3 2.3 7.6 0.06 DCU-07 1025 2587 1369 0 -90 32.6 5 10 5 4.3 16.5 0.30 DCU-08 1025 2587 1369 135 -45 62.4 5 30 25 3.3 20.0 0.33 INCLUDING 5 12.5 7.5 9.3 33.3 0.37 INCLUDING 7.5 10 2.5 18.0 44.0 0.51 DCU-09 1025 2586 1369 315 -45 39.8 NO SIGNIFICANT MINERALIZATION 2 The objective of the initial drilling program of 6000m is to delineate higher grade resources (measured and indicated categories) as a priority in four sectors for San Jose I, Los Cuyes, Enma and Soledad. These deposits need to be more clearly defined as open pit targets as a forerunner to feasibility assessment. Goldmarca has two rigs operating on site and a third is being mobilized. The Condor Gold project consists of eight gold deposits including Chinapintza, Los Cuyes, San Jose I, San Jose II, Soledad, Guayas, Enma and Santa Barbara. See Figure 2. At Chinapintza the project has 125,000 ounces of resources in underground veins with average grades of 14.5 g/t gold and 2 ozs/tonne silver. This resource is stated as an historic record estimated by TVX Gold in 1996. Location and Infrastructure. The Condor gold project is located some 400km south of Quito at an altitude of 1,500 m above sea level. The mine site has an established access roads, a 50 man camp, storage areas and offices together with a 800 metre long, 3.5 metre by 4 metre, underground adit crosscutting the underground gold veins. Previous Work. TVX Gold expended $US18 million on the property from 1994 to 1997. Work completed by TVX included: Drilling 45,800 metres; Geophysics 10.2 line km; Underground development 1.4km; Geochemical Grid 3000 metres and 1200 samples; Access roads 59km; Exploratory roads 21km;, Trenches 6km; Sampling and analysis 23,539 drilling samples, 2800 underground samples and 3,636 surface samples. TVX’s campaign culminated in the completion of a feasibility study for an underground mining operation in 1996/7 and left the property during a period of lower gold prices. Goldmarca commenced working on the property in February 2003. 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
bullboards/wraplink.asp?url=www.goldmarca.com''> 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. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred resources will be converted to measured and indicated categories through further drilling, or into mineral reserves once economic considerations are applied. FOR FURTHER INFORMATION, PLEASE CONTACT: Jim Voisin Communications Manager 1-519-699-5352 or drift@golden.net