SOURCE: Global Gold Corp.

July 11, 2007 11:50 ET

Global Gold Uranium Commences Airborne Survey on Cochrane Pond

GREENWICH, CT--(Marketwire - July 11, 2007) - Global Gold Corporation (OTCBB: GBGD) is pleased to announce that its wholly owned subsidiary, Global Gold Uranium, LLC, has commenced an airborne radiometric and magnetic survey over the Cochrane Pond uranium property located in southern Newfoundland. The survey is expected to take approximately four weeks to complete and will be followed by a prospecting program.

Global Gold Uranium acquired an option on Cochrane Pond in April 2007. The Cochrane Pond property consists of 2,600 claims within 61,000 hectares (approximately 150,708 acres). The claims were staked jointly by Commander Resources and Bayswater Uranium in early 2006 to cover favorable geology after uranium discoveries were made on Commander's adjacent Hermitage Property. The JV partners interpret that the Cochrane Pond Property is underlain by metasedimentary and metavolcanic rocks which could host uranium mineralization. To date no significant exploration work has been done on the property.

Van Krikorian, Chairman and CEO, stated, "As we enter the second half of 2007, we are implementing our Canadian uranium exploration program on schedule. We continue to be encouraged by the uranium occurrences and results around Cochrane Pond. With a solid and diversified portfolio of properties as well as the personnel for first class project development in Canada, Chile and Armenia, our 2007 initiatives are progressing well."

Global Gold Corporation is an international gold mining, development and exploration company with mining properties in Chile and Armenia. Global Gold Corporation has consolidated properties in the North Central Belt Areas in Armenia and owns a royalty interest from Tamaya Resources (formerly Iberian Resources) in southern Armenia as well as a right to participate up to 20% in new exploration undertaken in Armenia by Vedanta Resources (as successor to Sterlite Gold) or its successor. The company has an office in Santiago, Chile, engages in exploration and development, and currently has a royalty interest in the Santa Candelaria copper/gold property in the Chanaral District III in Chile. Global Gold Uranium, LLC is a wholly owned subsidiary of Global Gold Corp. engaged in the exploration and development of uranium. More information can be found at www.globalgoldcorp.com.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • Contact:
    Andrew Barwicki
    Investor Relations
    203-422-2320