Globestar Mining Corporation

Globestar Mining Corporation

November 20, 2006 12:55 ET

GlobeStar Appoints EPCM Engineering Firms and Adds John Wright to the Team for Dominican Republic Copper/Gold Development

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) -


GlobeStar Mining Corporation (TSX VENTURE:GMI) ("GlobeStar") is pleased to announce that it signed a letter of intent for the engagement of Met-Chem Canada Inc. ("Met-Chem") as the Lead Engineer for the Cerro de Maimon Project in the Dominican Republic. Met-Chem will be assisted by RSW International Consulting Engineers ("RSW") and Micon International Ltd. ("Micon") to perform the "EPCM" Service Contract for basic and detailed engineering, procurement and construction management of the construction of a processing plant and related facilities for the Cerro de Maimon Project.

"GlobeStar is very pleased to form an association with these leading resource sector companies for the development of the Cerro de Maimon project," commented JP Chauvin, President and COO "With cash in hand and the committed debt facility from Nedbank, GlobeStar is fully funded through the construction phase to mine commissioning and now has the engineering team to deliver".

Met-Chem's experience covers mining projects in many countries, recently as EPCM contractor for Aur Resources' Duck Pond copper/zinc mine in Newfoundland. RSW has significant expertise as an award-winning construction management provider for a wide range of engineering tasks in countries as diverse as Canada and Algeria. Micon is one of the most respected Canadian mining consultancies, and will be specifically assisting on metallurgical issues.

In other news, GlobeStar has appointed Mr. John Wright, P.Eng. as Project Manager for the Cerro de Maimon project. Mr. Wright will initially be based in Met-Chem's Montreal office on the owner's team, transferring to the Dominican Republic once the engineering is sufficiently advanced. Mr. Wright brings over 30 years of extensive international experience in mining and project development. He has recently worked as a consultant for SNC Lavalin and McIntosh Engineering, as well as technical services manager for the Cayeli base metals mine in Turkey. Since July, GlobeStar has filled six full-time senior management posts covering all aspects of mine development and operations.

The Cerro de Maimon development is advancing well. Golder and Associates have been retained to complete the geotechnical and environmental studies, including designing the waste and tailings facilities, the water management plan and to prepare the environmental management plan, complementing the Met-Chem EPCM group. Pre-production drilling continues on site, the main access road to the administration building is complete. Construction of the administration building will start in January.

JP Chauvin notes "A first class team has now been assembled with over 150 years of experience in project development and international construction in association with an impressive roster of internationally renowned engineering firms, all are committed to the successful development of Cerro de Maimon."

About GlobeStar

GlobeStar Mining Corp. is a minerals exploration company, developing the permitted Cerro de Maimon copper/gold project. The company is aggressively exploring an extensive base and precious metals exploration portfolio in the Dominican Republic. The company recently raised US$42.25 (C$48 million) million debt and C$30 million in equity, sufficient to fund mine development and aggressive exploration programs.

The common shares of GlobeStar Mining Corporation have not and will not be registered under the United States Securities Act of 1933, as amended, (the "US Securities Act") or any state's securities laws and may not be offered or sold in the United States or to any US person except in certain transactions exempt from the registration requirements of the US Securities Act and applicable state securities laws.

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

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