Global Minerals Ltd.

Global Minerals Ltd.

July 19, 2012 08:30 ET

Global Minerals Successfully Reaches Working Levels at Strieborna

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 19, 2012) - Global Minerals Ltd. (TSX VENTURE:CTG)(FRANKFURT:DFP) is pleased to announce that mine dewatering and rehabilitation has now reached the strategically important "Level 6", located approximately 180 meters below surface. This will allow the Company to re-establish underground drill stations, begin bulk metallurgical sampling and ultimately prepare the deposit for mining. The underground crews will now focus on extending the mine services along Level 6 including new rail, ventilation, power, and compressed air. A secondary escape-way is also being rehabilitated.

Dewatering will continue to Level 8, 280 m below surface, for continued drilling and to inspect the internal vertical shaft. The vertical shaft, also known as Maria Shaft will provide access between Level 6 and Level 13, 525 m below surface. Plans include a 10,000 m underground drill program from both Levels 6 and 8 to expand and up-grade the inferred resources that should commence before the end of the year.

Global will continue with its other activities including metallurgical testing, process flow-sheet design, concentrate marketing and mine planning (see News Release May 23, 2012) with the goal of completing a preliminary economic assessment in 2013.

Corporate Update

Bill Pincus, CEO and Bill Bond, VP Exploration, have established new and full time contracts with Global and no longer hold dual executive roles with Esperanza. Global also announces that, in accordance with the Company's stock option plan, it has granted to directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 2,162,500 common shares exercisable on or before July 18, 2017 at a price of $0.40 per share.

About Strieborná

Strieborná is a high-grade silver-copper-antimony vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia. The current resource, NI 43-101 dated April 22nd 2008, occurs within a mineralized structure 1.2 km long, 600 m deep and an average thickness of 3.4 m. The resource has been defined by diamond drilling and a series of four horizontal underground drifts totaling 3,000 meters. The mineralization is open in various directions along the vein structure. Other similar structures have been identified within the mining and exploration leases and will be the focus of future exploration drilling programs.

In addition to the upside of the exploration potential and the high-grade nature of the polymetallic mineralization, the project has excellent infrastructure, including sufficient electrical power, railway access, paved highways and a work force experienced with underground operations. Underground access has been achieved through previous mine workings.

Global Minerals Ltd. is a Canadian exploration and development company focused on developing its high-grade silver, copper, antimony deposit in Slovakia.

QUALIFIED PERSON: William Bond, M.Sc., Geol. and VP Exploration for Global is the Qualified Person (QP) under NI 43-101 responsible for the Strieborna exploration program. He has verified the drill results and other data disclosed in this news release.

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the annual information form of Global for the year ended June 30, 2010 and other continuous disclosure documents filed by Global since September 30, 2010 available at, for this detailed information, which is subject to the qualifications and notes set forth therein.

For further information about Global, visit

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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