Globestar Mining Corporation

Globestar Mining Corporation

December 04, 2007 14:44 ET

GlobeStar Mining Update on Copper Exploration Program in Dominican Republic: Drilling Program Underway Beneath New Trenches Grading 22 M @ 1.07 G/T Au,

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2007) - GlobeStar Mining Corp. (TSX:GMI) ("GlobeStar" or the "Company") is pleased to announce that its copper resource program in the Dominican Republic is underway, with drilling at Bayaguana completed and a 6-hole (1,150 m) diamond drilling program underway on the Cuance concession, in the central part of the Dominican Republic. The Cuance drilling is located 12 kilometers east of GlobeStar's Cerro de Maimon copper gold/development project, which is on schedule for commissioning in summer 2008 and 8 kilometers south of Barrick Gold's Pueblo Viejo mine.

Two scout holes totaling 700 metres were completed at Bayaguana, testing a deep EM anomaly below the Dona Amanda secondary copper mineralization. Primary textures consisting of pyrite stringer mineralization were observed, with limited copper mineralization identified. Assays are pending.

The Cuance drilling program follows the completion of regional soil geochemistry, mapping and trenching over an area considered to be part of the Maimon Formation; host rocks to the Cerro de Maimon project. Two trenches, T1 and T2 totaling 182 meters, have been completed over an area of coincident cadmium, barium, gold and copper geochemical anomalies. Trench T1 cut strong argilic-silica alteration and intersected 1.07 g/t gold ("Au") over 22m, including 2.01 g/t Au over 9m, which has been interpreted as a sulphide gossan. Trench T2 cut quartz, sulphide and oxide veinlets, including 0.82 g/t Au over 12m, which may represent stringer mineralization.

Exploration on the Cuance and adjacent Los Hojanchos concessions is fully funded by the Company's Joint Venture partner Everton Resources (TSX VENTURE:EVR), who have committed to spend US$1.17 million on this concessions, over three years in order to earn a 50% interest in these two properties. Everton can earn an additional 20% interest by funding a feasibility study to bring a project into production.

This press release was prepared by GlobeStar and the Cuance trenching program information was reviewed by Marc L'Heureux, P.Geo., Vice-President of Exploration of Everton Resources, who acts as the "Qualified Person" as described by National Instrument 43-101, for this program.

About GlobeStar

GlobeStar is a well-funded minerals exploration company, developing the permitted Cerro de Maimon copper/gold project in the Dominican Republic. Production from the 6 million tonne, high-grade open pit mine is currently expected in the summer of 2008. GlobeStar is exploring an extensive base and precious metals exploration portfolio in the Dominican Republic with over C$4.0 million committed to exploration during 2007 and early 2008.

Reader Advisory

The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. Assumptions that are subject to significant risks and uncertainties are the basis for these statements. Because of these risks and uncertainties and, as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although GlobeStar believes that the expectations reflected in forward looking statements are reasonable, we can give no assurances that the expectations of any forward-looking statements will prove to be correct. GlobeStar disclaims any intention, and assumes no obligation, to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise, except as required pursuant to applicable securities laws.

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