Globestar Mining Corporation

Globestar Mining Corporation

March 21, 2007 09:00 ET

GlobeStar Extends Surface Soil Anomalies to Over 1.5 km on the Cuance Concession in the Dominican Republic

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) - GlobeStar Mining Corporation ("GlobeStar" or the "Company") (TSX:GMI) and joint venture partner Everton Resources Inc. ("Everton") (TSX VENTURE:EVR) are pleased to announce that the soil geochemical survey currently underway on the Cuance concession, located in the central part of the Dominican Republic, has extended the zone of enriched multi-element soil anomalies by over 1.5 km. The new multi-element soil anomalies include: gold, copper, zinc, lead, and pathfinders cadmium, arsenic and barium, and are equally as strong as the soil anomalies that overly high-grade base metal drill intercepts on the adjacent Las Tres Bocas target owned by Everton and Linear Gold. These soil anomalies are also on trend with the soil anomalies identified on the adjacent Los Honjanchos concession.

Everton is earning a 50% interest from GlobeStar in the Cuance and Los Hojanchos concessions by funding US$1.15 million in exploration. GlobeStar is the operator of the joint venture.

This survey is a continuation of exploration efforts that commenced in the summer of 2005. To date, 1,332 soil samples have been collected on the Cuance concession, including 661 samples taken since September 2006. Exposures of mineralized quartz-sericitic schist's have been identified, mapped and sampled which are similar to the Maimon Formation at GlobeStar's mine development at Cerro de Maimon, 12 kilometres to the west, and at Las Tres Bocas.

In addition, the US$500,000 large-scale deep penetrating airborne magnetic and electromagnetic survey, announced on November 23, 2006, has been completed on the GlobeStar/Everton joint venture areas of Cuance and Los Honjanchos concessions, and also on GlobeStar's 100% owned Maimon concessions, all located in the central part of the Dominican Republic. GlobeStar will complete the flying of it's 100% owned Bayaguana group of properties shortly. A follow-up program will consist of additional definition soil and rock sampling that will be processed in conjunction with the airborne geophysical data, to identify targets for drilling in the summer of 2007.

This press release was prepared under the supervision of William Fisher, P.Geo, GlobeStar's CEO, who acts as the 'Qualified Person" as described by National Instrument 43-101.

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.

Reader Advisory

The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. Assumptions that are subject to significant risks and uncertainties are the basis for these statements. Because of these risks and uncertainties and, as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although GlobeStar believes that the expectations reflected in forward-looking statements are reasonable, we can give no assurances that the expectations of any forward-looking statements will prove to be correct. GlobeStar disclaims any intention, and assumes no obligation, to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise, except as required pursuant to applicable securities laws.

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