Global Minerals Ltd.

Global Minerals Ltd.

March 06, 2007 13:18 ET

Global Minerals Ltd. Announces Closing of $3,750,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 6, 2007) - Global Minerals Ltd. (TSX VENTURE:CTG)(FRANKFURT:DFP) is pleased to announce that the brokered and the non-brokered private placement through Notre-Dame Capital Inc. (the "Agent") announced on January 22, 2007 and amended February 15, 2007, has now closed. On the brokered portion of the placement the Company issued 12,000,000 units at a price of $0.25 per unit. On the non-brokered portion of the placement, the Company issued 3,000,000 units at a price of $0.25 per unit, for a combined placement of 15,000,000 units to raise gross proceeds of $3,750,000.

Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of $0.40 per common share at any time prior to March 1, 2009. The Agent received a commission and corporate finance fees totaling of $303,250 and 1,500,000 Broker's Warrants, divided among its selling group. Each Warrant is exercisable into one unit consisting of one common share ("Broker's Unit Shares") and one warrant ("Broker's Unit Warrant") for two years at a price of $0.25 per unit. Each Broker's Unit Warrant is exercisable for the purchase of one common share ("Broker's Warrant Share") at a price of $0.40 per Broker's Warrant Share at any time for a period of two years from the date of issue of the Broker's Warrant. All securities issued pursuant to the private placement are subject to a four month hold period expiring on July 2, 2007.

The gross proceeds from the offering will be used for general exploration expenditures, working capital and other corporate purposes.

Global Minerals Ltd. is a Canadian-based company with a focus on the acquisition, exploration and development of mineral property interests.


George W. Heard, President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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