Global Minerals Ltd. (TSX-V:CTG) is pleased to announce that it has closed its previously announced non-brokered financing and has issued a total of 13,024,000 post-consolidation units for aggregate proceeds of $3,256,000, at a price of $0.25 per Unit. Each Unit is comprised of one post-consolidation common share and one share purchase warrant, exercisable to purchase one post-consolidation common share for two years at a price of $0.35. The expiry date of the warrants are subject to acceleration such that, should the daily trading price of the shares of the Company on the TSX Venture Exchange exceed $0.50 (on a post-consolidated basis) for twenty consecutive trading days commencing four months after the issuance of the warrant the Company may, at its discretion, accelerate the expiry date such that the warrants will expire on the 30th day following the last day of the Acceleration Period by issuing a news release announcing the accelerated expiry within two trading days of the last day of the Acceleration Period.

All of the securities issued under the Financing will be subject to a four month resale restriction. In connection with the Financing, the Company has paid a commission of $212,870, which is equal to 7% of the total subscription amount of the number of Units purchased by subscribers introduced by the finders to the Company. The commission was payable in cash or, at the finder’s option, Units. In addition, the Company has issued an aggregate of 851,480 finders’ warrants which is equal to 7% of the number of Units purchased by subscribers introduced by the Finders to the Company. The Finders’ Warrants are exercisable into one common share of the Company at a price of $0.25 per Finders’ Warrant until two years after closing.

The proceeds from the Financing will be used to further the development of the Strieborna project and for general working capital.

About Strieborna

Strieborna is a high-grade silver-copper vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site include a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities. Global is using all efforts to advance the property into commercial production.