For my camera, under the "specifications" tab there's a table that shows the camera uses up about 1,920KB per second. 1,920KB is about 2MB which is about 0.002GB. Therefore, a 1GB card could hold 1GB / 0.002GB = 500 seconds of video. 500 seconds / 60 = about 8 minutes plus a bit.
For your camera 1GB could hold more or less than that depending on what format it uses.