GobiMin announces Change of Auditor

TSX-V: GMN

TORONTO , Nov. 10 /CNW/ - GobiMin Inc. ("GobiMin" or the 'Company") today announces that it has changed its auditor from Ernst & Young LLP (the "Former Auditor") to BDO Limited (the "Successor Auditor) effective October 23, 2009 .

At the request of GobiMin, the Former Auditor resigned as auditor of the Company effective October 23, 2009 . The Board of Directors of the Company has appointed the Successor Auditor as the Company's auditor in the place and stead of the Former Auditor effective October 23, 2009 until the close of the next Annual General Meeting of the Company.

There were no reservations in the Former Auditor's reports in connection with the financial statements of the Company for the two most recently completed fiscal years; and any period subsequent to the most recently completed period for which an audit report was issued and preceding the effective date of expiry of the Former Auditor's term of office.

The Company confirms that there have been no reportable events as defined in the National Instrument 51-102 and, in its opinion, there are no reportable events pending.

The Board of Directors of the Company has reviewed and approved the Reporting Package as defined in the National Instrument 51-102.

About GobiMin

As at June 30, 2009 , GobiMin held approximately US$81 million in cash and cash equivalent (approximately US$1.17 per share).

GobiMin currently holds 40% interest in the Yanxi Copper Deposit in Hami, Xinjiang of China for which the Company has received a NI 43-101 compliant Mineral Resource Estimate from Scott Wilson RPA in October 2008 . GobiMin has four other joint ventures on base metal projects in Xinjiang. GobiMin is aggressively seeking opportunities to acquire high grade mining and exploration projects.

Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management of GobiMin. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and GobiMin assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.

    
    "Neither TSX Venture Exchange nor the Investment Industry Regulatory
    Organization of Canada accepts responsibility for the adequacy or
    accuracy of this release."
    

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For further information: Felipe Tan, Chief Executive Officer, Tel: [phone], Email: [email protected]