Globestar Mining Corporation

Globestar Mining Corporation

July 12, 2005 10:05 ET

GlobeStar is granted 100% of the Citronen Fjord zinc project in Northern Greenland

TORONTO, ONTARIO--(CCNMatthews - July 12, 2005) - GlobeStar Mining Corporation (TSX VENTURE:GMI) has been granted the exploration license for the Citronen Fjord zinc project located in Peary Land, Northern Greenland. The license was signed by the Greenlandic Premier, Hans Enoksen, and covers 243 square kilometres.

"The acquisition of the Citronen Fjord project is the next step for GlobeStar developing a pipeline of base metal mining projects," commented Bill Fisher, the president of GlobeStar, "Initial technical, environmental and metallurgical work has been completed and is being reviewed by the company. The addition of this proposed zinc project to GlobeStar's portfolio compliments our fully permitted Cerro de Maimon copper/gold project."

Citronen Fjord is a Sediment Hosted Massive Sulphide (Sedex) deposit, located in the eastern part of the Palaeozoic Franklinian Basin, also host to the Polaris Mine, a zinc/lead mine on Cornwallis Island, Canada.

GlobeStar's first step is to review available information and will announce plans for a development program within the next 60 days.

Marc L'Heureux, P. Geo. has been contracted as an independent Qualified Person under NI43-101. He has reviewed this release for accuracy and content.

GlobeStar is a mineral exploration company with advanced stage properties in the Dominican Republic and Quebec and is developing the proposed Cerro de Maimon copper/gold mine. For more information visit the Company Website at The Company has 41,877,400 shares outstanding (45,469,031 fully diluted). The shares are listed on the TSX Venture Exchange and trade under the symbol "GMI".

Please click on the link below to view the Peary Land - Property Geology Map

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