SOURCE:; Globetech Ventures Corp.

June 27, 2006 09:00 ET - New Featured Mining Company Globetech Ventures Corp. Targets Molybdenum and Gold Potential on Gladys Lake Property

China and India Represent Key Drivers in the Growing Global Demand and Prices for Molybdenum as Steel and Energy Production Needs Increase

POINT ROBERTS, WA and DELTA, BC -- (MARKET WIRE) -- June 27, 2006 -- (MSS) and (GMS), investor and industry portals for the gold and mining sector, announce new featured mining company Globetech Ventures Corp. (OTCBB: GTVCF) as they focus on exploring the molybdenum and gold targets on the Gladys Lake Property in British Columbia.

Molybdenum (Mo) has realized significant growth over the past few years with a price that has appreciated beyond that of its base metal counterparts such as copper, uranium, aluminum, nickel, etc. Mo has a variety of uses; a list that continues to expand as its heat and corrosion resistant properties makes it ideal as an ingredient for metallurgical applications. Currently, metallurgical applications comprise approximately 75% of the global molybdenum consumption according to the International Molybdenum Association.

Mo is also realizing an increasing number of uses as a catalyst in the energy sector, enabling supply increases and improved environmental protection. As a catalyst, Molybdenum plays its largest role within the petroleum industry as it helps to reduce the costs associated with unconventional oil sources such as tar sands.

The surge in price performance of Mo in large part is being driven by the significant economic growth in China and India, regions that have pushed up demand for steel products, and escalated their energy consumption through a booming construction industry.

Globetech Ventures Corp. is working to take advantage of the expanding Molybdenum market through the exploration and development of mineral properties such as the Gladys Lake Property in British Columbia, which according to the Company has an excellent anomalous soil footprint and weakly mineralized surface showings of molybdenite. The property consists of 50 new grid claims or cells with each cell approximately 300 metres by 500 metres in size.

The Gladys Lake property hosts a molybdenum deposit similar in tenor and size to the Adanac Deposit to the south. Adanac Moly Corp. completed a feasibility study on their Ruby Creek property, located approximately 28 kilometers from the Gladys Lake Property, indicating potential production of 68 million pounds of molybdenum over a six-year period.

According to Casey Forward, Globetech's President, "The Company intends to construct a grid over the previously established molybdenum anomaly and relocate and re-evaluate it by taking approximately 600 soil samples. In addition, a magnetometer and low frequency electromagnetic geophysical survey will be done to establish local structure and confirm Amax's ring-dyke complex. After completion, the Company intends to commence diamond drilling."

In addition to Globetech's focus on the Molybdenum targets, the Company will also evaluate the property's potential gold mineralization.

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