Globestar Mining Corporation

Globestar Mining Corporation

July 07, 2005 16:02 ET

GlobeStar Mining: Announces New Director to the Board; Extension of Payment Schedule for Cerro de Maimon Project

TORONTO, ONTARIO--(CCNMatthews - July 7, 2005) - GlobeStar Mining Corporation (TSX VENTURE:GMI) is pleased to announce that Richard Faucher of Montreal, Quebec, has agreed to join the board of directors.

"GlobeStar is delighted to have attracted a senior executive of Richard's calibre to the company's board of directors," stated Bill Fisher, GlobeStar's President. "With his extensive mining and development experience, particularly in the Dominican Republic, he will bring many years of experience to the company."

Mr. Faucher is a Metallurgical Engineer, graduating from Universite Laval in 1971. He is currently president of Niocan inc., which is undergoing permitting for a mine project in Quebec. He has held senior management positions in several mining companies. For Noranda Inc. he served as Vice-President, Brunswick Mining & Smelting. Between 1992 and 1994 he was President and General Manager for Falconbridge Dominicana a large nickel mine adjacent to GlobeStar's Cerro de Maimon copper gold project. In 1997, as President and COO of Princeton Mining Corp., he was instrumental in helping complete a $140 million prospectus offering for the Huckleberry Mining Project in British Columbia.

In other news, the 4Star Group has agreed to extend their timeframe for the first payment from GlobeStar for the company to acquire their interest in Cerro de Maimon until August 15th, 2005 (see release of April 20, 2005).

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".

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