Globestar Mining Corporation

Globestar Mining Corporation

April 25, 2007 08:27 ET

GlobeStar Mining's Cerro de Maimon Mine Update

Major Equipment Ordered, Construction Underway

TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - GlobeStar Mining Corporation ("GlobeStar" or the "Company") (TSX:GMI) is pleased to announce the issuance of purchase orders for all mills and crushers and other long lead time items for their 100% owned Cerro de Maimon copper/gold mine development in the Dominican Republic. The mine is slated to commence operations at a rate of 30,000,000 pounds of copper and 25,000 ounces of gold in the first 12 months of full operations. The principal items ordered were three re-furbished mills, two used crushers, and new flotation columns from Outokompu. It is currently anticipated that these items will be delivered and installed during Q1 2008, comfortably ahead of the planned start up date of the mine in summer 2008.

"This is a major milestone in the mine development process," commented JP Chauvin, GlobeStar's President, "GlobeStar will be mining a high grade deposit, with a 1,300 tonnes per day copper circuit and a 700 tonne per day gold circuit, and we only require readily available moderately sized equipment. No project delays are currently expected due to waiting times for capital equipment".

The site preparation team has been mobilized, with site clearance and soil stockpiling underway, focusing on the mill footprint in advance of moving to the open pit and tailings areas within this quarter. The covered concentrate storage facility and workshops are the first units to be constructed to allow adequate weather protection for the valuable equipment (pumps, filters, etc) prior to installation.

Drilling of GlobeStar's copper ground has concentrated on the areas in and around the open pit, where complete assay results for 17 holes will be released shortly. Future drilling will follow up targets identified by the airborne survey (see below), and investigate satellite deposits starting with GlobeStar's 100% owned Loma Pesada deposit (a National Instrument 43-101 compliant inferred resource of 1.1 million tonnes grading 2.2% copper: see news release of February 23rd 2006) located 15 kilometres from the Cerro de Maimon mill site.

The Company and its engineers are preparing a detailed project schedule, along with updated capital and operating costs. The Company expects to complete this review this quarter, and will be published in a new technical report in the third quarter in conjunction with a re-calculation of the open pit reserves, giving a full updated description of the project. The last public disclosure on reserves and costs was on July 7, 2006 (as amended and restated September 19, 2006).

In support of the copper/gold mine development, the company has completed its FUGRO airborne Magnetics and Electro-Magnetics (EM) survey, covering the massive sulphide bearing Maimon Formation, where GlobeStar holds properties surrounding Cerro de Maimon over a distance of 55 kilometres. The survey, the first since 1982, is seeking further massive sulphide targets, the same deposit type as Cerro de Maimon. The 1982 survey could identify targets to 80 metres depth, while the current FUGRO survey penetrates to at least 300 metres. The survey also covered the Company's Bayaguana properties where the largest NI 43-101 compliant inferred resource is at Dona Amanda which contains 127 million tonnes grading 0.31% copper and 0.19 grams per tonne gold (see news release of February 23rd 2006). Dona Amanda is a near surface secondary enrichment deposit, with no known primary source for the copper and gold.

Bill Fisher, P.Geo. is the Company's "Qualified Person" for purposes of the National Instrument 43-101 Standards of Disclosure and has reviewed this release.

About GlobeStar

GlobeStar Mining Corp. is a well funded mine development company, developing the permitted Cerro de Maimon copper/gold project, currently anticipated to be due for completion in summer 2008. The Company is also aggressively exploring an extensive base and precious metals exploration portfolio in the Dominican Republic with a US$ 4M exploration budget for nickel and copper/gold exploration, including a 207-hole nickel drilling program.

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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