Gemini Corporation Reports 2009 Second Quarter Results

Gemini Corporation (TSX VENTURE:GKX) today announced its second quarter
financial results for the period ended June 30, 2009.


Revenue in the second quarter totalled $15,226,000, a 23% decline from the
$19,852,000 achieved in the same period of 2008, bringing year to date revenues
for 2009 to $30,022,000 compared to $38,574,000 for 2008. The ongoing economic
uncertainty has significantly impacted new construction activity in the oil and
gas sector, which has dampened revenues for the Corporation's Field Services
segment and has lead to these declines. Gemini's Engineering segment has been
impacted less severely by the recession and is anticipating revenues will remain
at or near the levels achieved in the second quarter. Demand for services
related to maintenance, debottlenecking and upgrades are continuing to generate
opportunities. Sales and marketing efforts are focussing on existing client
opportunities as well as new markets and new clients to continue broadening the
revenue base.


Gross profits for the second quarter of 2009 were $4,351,000 or 28% of revenue
compared to $3,379,000 or 17% of revenue in the same period last year. This
improvement continues to be the result of greater staff utilization rates within
Engineering and improving project cost controls within Field Services. Client
pressures to reduce costs are having an impact upon margins, but important steps
are being taken to mitigate the effects of these pressures through increased
efficiencies and enhanced use of existing infrastructure.


"Given the market conditions in the second quarter, we are encouraged by the
financial results we were able to achieve", said Carl Johnson, Gemini's
Executive Chairman. "Our emphasis on providing quality services in a safe
manner, while improving utilization and cost controls is having a positive
impact upon our profitability in the midst of this challenging economy."


"As the new member of Gemini's executive team, I am excited by the prospects for
the organization", commented Doug Lautermilch, Gemini's new President and CEO.
"We are in a financially strong position to take advantage of the inevitable
turnaround in our markets and we are currently re-examining our strategic plans
to ensure they align with the needs of our clients and the anticipated economic
conditions for the next few years."


About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, 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 service approaches to a broadening
client base in an array of industry sectors. The Corporation's principal target
markets are conventional oil and gas, unconventional gas, heavy oil, industrial,
and renewable energy.


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.gemini-corp.ca.


Gemini's 2009 second quarter report will be filed with SEDAR at
http://www.sedar.com on August 28, 2009.




CONSOLIDATED FINANCIAL HIGHLIGHTS

                                Three Months Ended         Six Months Ended
Operating Highlights ($'000)  June 30,     June 30,    June 30,     June 30,
                                 2009         2008        2009         2008
Revenue                   $    15,226 $     19,852  $   30,022  $    38,574

Gross profit                    4,351        3,379       7,952        6,829

Earnings before interest
 & taxes                          524          365         722          577

Net earnings                $     320   $      210  $      417  $       218

Earnings per share
 (basic)                    $   0.009   $    0.005  $    0.012  $     0.005

Earnings per share
 (diluted)                  $   0.009   $    0.005  $    0.012  $     0.005

Operating cash flow(1)
(excludes working capital
 changes)                   $     724   $      274  $    1,125  $       754

Operating cash flow per
 share                      $   0.021   $    0.008  $    0.032  $     0.022


Balance Sheet Highlights ($'000)                       June 30, December 31,
                                                          2009         2008

Working capital                                  $      11,898  $    12,403

Total assets                                            24,425       28,554

Shareholders' equity                                    15,584       16,180

(1) Operating cash flow and operating cash flow per share are non-GAAP
    financial measures which do not have a standard meaning and therefore
    may not be comparable to similar measures presented by other companies.
    The Corporation provides these measures in its quarterly news releases
    to indicate the amount of cash generated for operating purposes during
    the period.



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.