Mr. George Heard reports

 

GLOBAL MINERALS LTD. PROVIDES PRODUCTION AND SALES UPDATE FOR FRONT RANGE PROJECT

 

Global Minerals Ltd. has released a production and sales update for the Front Range project.

 

Front Range project: production and sales update Gold and silver sales

 

Seven truckloads of concentrate have been shipped to date in 2008. This compares with eight truckloads for all of 2007. It is anticipated that an additional 15 truckloads of concentrate will be shipped to the smelter during the remainder of the year. Each truckload contains 20 to 30 tons of concentrate.

Provisional payments for shipments (approximately 80 per cent of value) are occurring about 60 days from the shipping date. Final payments are typically received 90 to 120 days from the shipping date.

 

Production and development

 

Mine production is averaging 35 to 60 tons per day, four days per week. The mill operates 24 hours per day, four days per week and output averages 1.8 to 2.2 tons per hour.

 

The grade of the mill feed has increased significantly because the mine crew has been able to reduce dilution by improved selectivity of mining in the stopes.

A total of seven stopes are now in production. Three new stopes are in development and two are in inventory. Redevelopment of the Saint Joe shaft should begin in late July/early August. This shaft will provide access to the Saint Joe workings from the Cash mine, as well as further ventilation for the workings in the Freiburg and Cash veins. Depending on conditions, the Saint Joe tunnel may provide additional escape routes from the mine.

Current exploration/development drifting from the Cash northeast in the crosscut to the northern part of the Freiburg vein is progressing at two metres per day. It is expected that this drift will provide access to the Mack, Keystone State, Columbus and Horsfal vein systems. Near term, this drift should provide an additional 30 to 40 metres of stoping on the Freiburg vein. Core drilling in the Cash northeast has identified the Saint Joe vein underground less than 30 metres from the end of the drift. This drift will continue to the Saint Joe vein and access the bottom of the Saint Joe shaft. The goal is to connect to current and additional vein systems in past-producing mines in the district.

 

Exploration

 

A total of 355 feet of drifting on the Cash vein to the northeast has yielded 106 feet of 0.53 ounce per ton gold, 1.2-foot stope (weighted average), and 124 feet of 1.22 ounces per ton gold, 0.94-foot stope. Over 1,500 feet of underground drilling has identified three vein targets on the Saint Joe, Deerkson and a third previously unidentified vein.

 

Surface drill sites have been prepped for the 2008 season. The underground drill has finished the scheduled holes for the 2007-2008 season and is undergoing preventative maintenance in anticipation of an early start for the 2008-2009 underground program.

 

On the cash vein, assay results varied from 0.059 to 9.92 ounces per ton gold, with silver ranging from (less than) 0.2 to 24.54 ounces per ton. Assays on the Freiburg vein ran 0.26 and 1.42 ounces per ton gold with 4.50 and 14.74 ounces per ton silver. Sampling on the MRV-3 vein ran 0.232, 0.214, 0.057 ounce per ton gold, and 1.72, 0.58, 0.02 ounce per ton silver. Samples of veins were diamond sawed spanning the alteration limits across the vein where practical. The samples were fire assayed in the company's on-site laboratory. They give an indication of gold and silver mineralization. They are not statistically distributed for ore reserve calculation purposes.

We seek Safe Harbor.