Gemini Corporation (TSX VENTURE:GKX) announces its first quarter financial
results for the period ended March 31, 2011.


Revenue in the first quarter of 2011 totalled $11,376,000, which was a 37%
decline from the $18,044,000 achieved in the first quarter of 2010. The weakness
in the first quarter was principally attributable to ongoing client delays in
the commencement of new engineering assignments and a lack of construction and
fabrication project activity. Engineering and maintenance workloads recovered to
more traditional levels near the end of the quarter and they are expected to
remain solid for the remainder of the year. Client indications are for
construction and fabrication activity to strengthen as the year progresses,
although competition is strong and opportunities will have to be carefully
evaluated to avoid assuming undue financial risk on any projects.


First quarter gross profits for 2011 were $2,088,000 or nearly 50% lower than
the $4,127,000 achieved in the same period last year. The positive results
achieved by the engineering and maintenance operations were overshadowed by the
significant decline in construction and fabrication activity for the quarter.
Various steps were taken to reduce both fixed and variable costs, but they were
insufficient to make a meaningful impact on the operating results. Therefore,
the Corporation incurred a first quarter net loss of $974,000 (2.8 cents per
share) in 2011 compared to net income of $328,000 (0.9 cents per share) in the
same period last year. It is expected that profitability will gradually improve
as workloads increase in line with the client project expectations noted above. 


"The first quarter results were a disappointing continuation of the challenges
experienced in the fourth quarter of 2010", stated Doug Lautermilch, Gemini's
President and CEO. "A great deal of effort has gone into repositioning the
company for the economic recovery which appears to be underway. Focussing on our
core competencies and marketing them to clients is working very well in our
engineering and maintenance business units and we now have to achieve similar
results for the construction and fabrication operations."


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 2011 first-quarter report will be filed with SEDAR at
http://www.sedar.com by May 20, 2011.


CONSOLIDATED FINANCIAL HIGHLIGHTS



                                                    Three Months Ended      
                                                       (Unaudited)          
                                                    March 31,      March 31,
Operating Highlights ($'000)                            2011           2010 
Revenue                                           $   11,376     $   18,044 
Gross profit                                           2,088          4,127 
Income (loss) from operating activities               (1,298)           534 
Net income (loss)                                 $     (974)    $      328 
Earnings per share (basic & diluted)              $   (0.028)    $    0.009 
                                                                            
                                                    March 31,   December 31,
Financial Position Highlights ($'000)                   2011           2010 
Working capital                                   $    7,989     $    8,802 
Total assets                                          22,014         23,246 
Shareholders' equity                                  13,717         14,661 



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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