Globestar Mining Corporation
TSX : GMI

Globestar Mining Corporation

February 23, 2010 17:49 ET

GlobeStar Reports Strong 2009 Operating Results & Record Quarterly Gold Production

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2010) - GlobeStar Mining Corporation ("GlobeStar") (TSX:GMI) today announced highlights of its operating results for the three months and twelve months ended December 31, 2009.

During the fourth quarter of 2009, the Cerro de Maimon Mine in the Dominican Republic continued to operate at planned production levels. Copper production was 5.6 million pounds and 25.3 million pounds in concentrate for the fourth quarter and fiscal 2009, respectively. Record gold quarterly production of 3,700 ounces for the fourth quarter resulted from higher recoveries in the sulphide mill. Gold production for 2009 totaled 12,060 ounces. Silver production was 137,000 ounces and 610,000 ounces for the fourth quarter and fiscal 2009, respectively.

The following table outlines the Cerro de Maimon sulphide plant's operating statistics for the three months and twelve months ended December 31, 2009.



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Three Months Twelve Months
Sulphide Plant - Ended Ended
Operating Statistics December 31, 2009 December 31, 2009
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Sulphide ore processed (tonnes) 108,000 415,000
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Copper Grade 2.9% 3.3%
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Gold Grade g/t 1.2 1.1
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Silver Grade g/t 51 68
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Copper Recovery 81% 84%
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Gold Recovery 53% 41%
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Silver Recovery 57% 56%
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Copper concentrate produced (tonnes) 11,500 46,200
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Copper concentrate grade 22% 25%
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Copper in Concentrate (million pounds) 5.6 25.3
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Gold in concentrate (ounces) 2,100 6,100
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Silver in concentrate (ounces) 102,000 515,000
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During the fourth quarter, the Cerro de Maimon oxide plant achieved targeted gold production and produced the highest quarterly silver production since start up. The silver recovery was significantly higher during the fourth quarter which resulted in silver production of 35,000 ounces, an increase of over 14,000 ounces from the third quarter 2009.

The following table outlines the oxide plant's operating statistics for the three months and twelve months ended December 31, 2009:



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Three Months Twelve Months
Oxide Plant - Ended Ended
Operating Statistics December 31, 2009 December 31, 2009
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Oxide ore processed (tonnes) 61,000 206,000
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Gold Grade g/t 1.1 1.1
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Silver Grade g/t 25.6 30.1
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Gold Recovery 77% 79%
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Silver Recovery 70% 52%
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Gold ounces 1,600 5,960
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Silver ounces 35,000 94,900
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Appointment of Vice President, Exploration

GlobeStar is pleased to announce the appointment of Julio Espaillat to the position of Vice President, Exploration. Mr. Espaillat, who began his career with GlobeStar in August of 2000, will also continue as the General Manager of GlobeStar's subsidiary, Corporacion Minera Dominicana. Prior to his employment with GlobeStar, Mr. Espaillat spent 13 years with Falconbridge in various exploration roles both in the Dominican Republic and Canada. He has extensive knowledge of the geology in the Dominican Republic and other areas of Latin America having obtained the position of Superintendent of Exploration, Central America and Northern South America with Falconbridge.

About GlobeStar

GlobeStar Mining Corporation is a Canadian-based mining and exploration company producing copper, gold and silver at its Cerro de Maimon Mine in the Dominican Republic. GlobeStar is exploring for copper and gold on its extensive mineral concessions in the Dominican Republic, and also holds significant interests in the Moblan Lithium Project in Quebec, Canada, and the Cumpie Hill lateritic nickel deposit adjacent to Xstrata's Falcondo plant in the Dominican Republic.

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