Gemini Corporation (TSX VENTURE:GKX) announces its first quarter financial
results for the period ended March 31, 2012.


Revenue in the first quarter of 2012 totalled $20,184,000, which was a 77%
increase from the $11,376,000 achieved in the first quarter of 2011. This
significant improvement is a direct result of much stronger market activity and
service demand this year compared to last year. In addition, the Corporation is
beginning to experience the positive effects generated from its change to a more
client focussed business development model. Engineering and fabrication
workloads were very strong for the first quarter, whereas the sustaining project
work and maintenance activity remained more variable. It is expected that all
business units will achieve more stable revenue levels in the second quarter and
beyond to further strengthen profitability.


First quarter gross profit for 2012 was $3,396,000 or nearly 63% greater than
the $2,088,000 achieved in the first quarter of 2011. Notwithstanding this
improvement, delayed price increases in the first quarter constrained margins
and caused gross profit as a percent of revenue to decline to 17% compared to
18% in the same period last year. These pricing delays were resolved early in
the second quarter and are not expected to negatively impact gross profit over
the remainder of the year. They were implemented to address labour cost
escalation challenges that are working their way through the markets in which
the Corporation competes. Shortages of qualified resources are the principal
driver for this cost escalation and management is closely monitoring these
conditions to manage the impact they may have on profitability. 


The improved market conditions enabled the Corporation to achieve first quarter
net income of $185,000 (0.5 cents per share) for 2012 compared to the net loss
of $974,000 (2.8 cents per share) in the same period last year.


"The first quarter results were a dramatic turnaround from those achieved last
year", commented Doug Lautermilch, Gemini's President and CEO. "Our efforts to
engage with clients at multiple levels are beginning to make a material
difference in our revenue generating capability and we are very encouraged with
the start we have been able to achieve this year. There is still more work to be
done to build a base load of longer term work, but we are pleased with the path
we are on and our potential to deliver improving earnings as the year unfolds."


About Gemini Corporation

Gemini Corporation is a professional services firm that designs, builds and
maintains energy and industrial facilities. Founded in 1982, Gemini provides
services on either a standalone basis or by combining engineering and field
service capabilities to increase project efficiency and provide a single point
of accountability. The Corporation's principal target markets are conventional
and unconventional oil and gas, in-situ heavy oil, and heavy industrial
facilities.


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.ca. 


Gemini's 2012 first-quarter report will be filed with SEDAR at
http://www.sedar.com by May 18, 2012.




CONSOLIDATED FINANCIAL HIGHLIGHTS                                           
                                                                            
                                                         Three Months Ended 
Operating Highlights ($'000)                                     (Unaudited)
                                                    March 31,      March 31,
                                                        2012           2011 
Revenue                                             $ 20,184       $ 11,376 
Gross profit                                           3,396          2,088 
Income (loss) from operating activities                  313         (1,298)
Net income (loss)                                      $ 185         $ (974)
                                                                            
Earnings per share (basic & diluted)                 $ 0.005       $ (0.028)
                                                                            
                                                    March 31,   December 31,
Financial Position Highlights ($'000)                   2012           2011 
Working capital                                      $ 7,409        $ 7,119 
Total assets                                          28,263         28,412 
Shareholders' equity                                  13,279         13,069 



Disclaimer

This news release may contain 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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