GlobeStar Extends
Surface Soil Anomalies to over 1.5 km on the Cuance Concession in the Dominican
Republic
TORONTO, Ontario
(March 21st, 2007) -- GlobeStar Mining Corporation ("GlobeStar" or the
"Company") (TSX: GMI) and joint venture partner Everton Resources Inc. "Everton"
(TSX-V: EVR) are pleased to announce
that the soil geochemical survey currently underway on the Cuance concession,
located in the central part of the Dominican Republic, has extended the zone of
enriched multi-element soil anomalies by over 1.5 km. The new multi-element soil
anomalies include: gold, copper, zinc, lead, and pathfinders cadmium, arsenic
and barium, and are equally as strong as the soil anomalies that overly
high-grade base metal drill intercepts on the adjacent Las Tres Bocas target
owned by Everton and Linear Gold. These soil anomalies are also on trend with
the soil anomalies identified on the adjacent Los Honjanchos
concession.
Everton is earning a
50% interest from GlobeStar in the Cuance and Los Hojanchos concessions by
funding US$1.15 million in exploration. GlobeStar is the operator of the joint
venture.
This survey is a
continuation of exploration efforts that commenced in the summer of 2005. To
date, 1,332 soil samples have been collected on the Cuance concession, including
661 samples taken since September 2006.
Exposures of mineralized quartz-sericitic schist's have been identified,
mapped and sampled which are similar to the Maimn Formation at GlobeStar's mine
development at Cerro de Maimon, 12 kilometres to the west, and at Las Tres
Bocas.
In addition, the
US$500,000 large-scale deep penetrating airborne magnetic and electromagnetic
survey, announced on November 23, 2006, has been completed on the
GlobeStar/Everton joint venture areas of Cuance and Los Honjanchos concessions,
and also on GlobeStar's 100% owned Maimn concessions, all located in the
central part of the Dominican Republic. GlobeStar will complete the flying of
it's 100% owned Bayaguana group of properties shortly. A follow-up program will
consist of additional definition soil and rock sampling that will be processed
in conjunction with the airborne geophysical data, to identify targets for
drilling in the summer of 2007.
This press release
was prepared under the supervision of William Fisher, P.Geo, GlobeStar's CEO,
who acts as the 'Qualified Person" as described by National Instrument
43-101.
About GlobeStar
GlobeStar
Mining Corp. is a minerals exploration company, developing the permitted Cerro
de Maimn copper/gold project. The Company is aggressively exploring an
extensive base and precious metals exploration portfolio in the Dominican
Republic. The Company recently raised US$42.25 (C$48 million) million debt and
C$30 million in equity, sufficient to fund mine development and aggressive
exploration programs.
Contact:
GlobeStar Mining Corporation
William Fisher
or
JP Chauvin
CEO
President and COO
Email : wfisher@globestarmining.com
Email : jp.chauvin@globestarmining.com
Tel. : (416) 868-6678
Tel. : (416)
868-6678
Bay
Street Connect
Coal Harbor
Communications
Gus
Garisto
Dale Paruk
Email: gus@baystreetconnect.com
Email: dale@coal-harbor.com
Tel. : (416) 607 6023
Tel. : (604)
662-4505
Fax: (604)
662-4547