GKX Gemini Corp. (delisted)

Gemini Corporation (TSX VENTURE:GKX) today announced its first quarter financial
results for the period ended March 31, 2008.


Revenue in the first quarter totalled $18,721,000, which is a 9.5% increase over
the $17,098,000 achieved in the first quarter of 2007. This increase reflects a
strengthening of activity in Gemini's Field Services segment where revenues
improved nearly 39%, while Engineering revenues declined 33% for the quarter.
The growth in Field Services revenue related to the previously announced
strength in its backlog of heavy oil projects for both fabrication and
construction. In addition, the volume of maintenance work completed in the
quarter was up significantly on a number of unplanned client shutdowns. The
Engineering shortfall was a result of ongoing client spending constraints and
start-up delays on certain new projects. Engineering is expected to be closer to
prior year revenues in the second quarter and should recover the first quarter
shortfall by year end.


Sales efforts within Field Services have been focused on filling any available
capacity over the remainder of 2008, while Engineering has concentrated on
building its backlog of project opportunities. Both have been successful in
their efforts with Field Services building upon their already sizable backlog
and Engineering having recently achieved a record backlog of projects which will
carry on into 2009. This workload is generally of a longer term nature, which
will allow both operations to balance their resources much more effectively
going forward.


First quarter gross profits for 2008 were $3.4 million, matching the level
achieved in the same period last year. This is an indication of stabilizing
operational performance that is expected to translate into better profitability
as revenues increase over the balance of the year. Also supporting this
perspective is a 14% reduction in general and administrative expenses to $3.0
million from $3.5 million last year. These fixed costs are expected to remain
consistent as revenues strengthen in the coming quarters. Overall, this resulted
in Gemini achieving a breakeven position (0.0 cents per share) compared to a net
loss of $366,000 (1.1 cents per share) in the first quarter of 2007.


"We achieved breakeven in the first quarter and are very encouraged by the
backlog we have been able to establish", said Carl Johnson, Gemini's President
and CEO. "Our objective now is to start consuming this backlog to produce higher
revenues and earnings for the remaining 2008 quarters. The project work we have
secured extends for longer periods than we have traditionally enjoyed, which
will help us in forecasting our resources and optimizing our utilization rates.
We also intend to keep up our aggressive sales efforts to maintain a strong
backlog well into the future."


About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, operations and
maintenance of oil & gas and industrial facilities within Canada and
internationally. The Corporation is a leading provider of engineered solutions
and field services through either stand-alone or integrated, full-service
approaches to a broadening client base in an array of industry sectors.


Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For
more information about the Corporation and its services, go to
www.geminicorp.ab.ca.


Gemini's 2008 first-quarter report will be filed with SEDAR at
http://www.sedar.com by May 20, 2008.




CONSOLIDATED FINANCIAL HIGHLIGHTS

                                                         Three Months Ended
Operating Highlights ($'000)                        March 31,      March 31,
                                                        2008           2007
Revenue                                             $ 18,721       $ 17,098
Gross profit                                           3,450          3,392
Earnings (loss) before interest & taxes                  212           (359)
Net earnings (loss)                                        8           (366)
Earnings per share (basic)                          $   0.00       $  (0.01)
Earnings per share (diluted)                        $   0.00       $  (0.01)

Operating cash flow (1)
 (excludes working capital changes)                 $    479       $     11
Operating cash flow per share                       $   0.01       $   0.00


Balance Sheet Highlights ($'000)                    March 31,   December 31,
                                                        2008           2007
Working capital                                     $  7,948       $  7,839
Total assets                                          29,359         26,739
Shareholders' equity                                  13,086         12,900

(1) Operating cash flow is a non-GAAP financial measure which does not have
    a standard meaning and therefore may not be comparable to similar
    measures presented by other companies.



Disclaimer

This news release contains forward looking information that represents Gemini's
internal projections, expectations, estimates or beliefs concerning, among other
things, future operating results and various components thereof or Gemini's
future economic performance. All statements other than the statements of
historical fact may be forward-looking statements. In some cases,
forward-looking statements can be identified by terminology such as "may",
"will", "should", "expects", "projects", "plans", "anticipates", and similar
expressions. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's assumptions relating to
Gemini's performance and competition within the sectors in which it competes,
the continuation of the current regulatory and tax regimes in the jurisdictions
in which Gemini operates, and necessarily involve known and unknown risks and
uncertainties, including risks and assumptions relating to client service
demand, field service costs, labour rates, and other factors that may cause
actual performance and financial results in future periods to differ materially
from any projections of future performance or results expressed or implied by
such forward-looking statements. Accordingly, readers are cautioned that events
or circumstances could cause results to differ materially from those predicted
or suggested. The Corporation does not undertake to update any forward-looking
information in this document whether as to new information, future events or
otherwise.

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