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GlobeStar Mining Reports Latest Drilling Results from Cerro de Maimón Mine

GlobeStar Mining Corporation (TSX:GMI) today announced the latest results from its ongoing diamond drilling program at the Cerro de Maimón Mine.

In June 2010, GlobeStar started a 23 hole, 4,500 metre drill program to explore the extent of deep sulphide mineralization beyond the location of the current open pit estimated mineral reserves and to obtain sulphide material from the current estimated mineral reserves for bulk metallurgical testing of primary copper and zinc bearing ore. A total of 3,785 meters in 20 holes have been completed to date and assays have been received for thirteen drill holes.

The Cerro de Maimón deposit consists of a massive to semi-massive copper-zinc sulphide deposit overlain by an oxide gossan remnant deposit. Both the sulphide and the oxide deposits contain gold and silver and occur in a distinct horizon within the host rock metavolcanics. This metavolcanic horizon strikes northwest dipping 40 to 70 degrees southwest and plunges southeast at approximately 25 degrees. The 2007 MICON NI-43-101 technical report established that the Cerro de Maimón deposit has dimensions approximately 1,000 meters long by 10 to 15 meters thick and has not been closed off down dip or down plunge. The deep exploration holes of the current drilling program have been targeted to define the extent and nature of the potential deep massive sulphide mineralization.

All the 13 drill holes reported in this press release returned intercepts of massive and semi-massive sulphide mineralization; including holes CM-270 and CM-271 that intersected 5.07 and 6.08 meters (apparent thickness) of hypogene mineralization grading 4.2 % copper and 3.1 % copper, respectively.

Six of the drill holes in this program were targeted to obtain metallurgical samples from the current estimated mineral reserves to allow flotation testing of the hypogene ore in an effort to optimize sphalerite and chalcopyrite separation during the milling process. Sample collection has been completed and the metallurgical testing is currently being carried out at the mine site.

Analysis and Quality Control

After geological logging, the drill core was cut in half and sampled. Sample preparation was contracted to the ACME lab in Maimón, Dominican Republic, a company unrelated to GlobeStar. Pulps were shipped to SGS laboratories in Toronto, Canada and were analyzed by sodium peroxide fusion inductively coupled plasma emission spectrometry ("ICP") analysis. Gold was analyzed by fire assay. Full QA/QC procedures were implemented, including the commercial standards, duplicates and blanks.

This news release was prepared by GlobeStar and the data validated by Sergio Gelcich, PhD, P.Geo., GlobeStar's Senior Geologist and a Qualified Person under NI 43-101. Dr. Gelcich has visited the project on a number of occasions during the drilling program and has reviewed sample identification and geological logging. The assay data base was built in Access using import macros that minimized the handling of the original Excel files send by SGS.

Source: GlobeStar Mining Corporation

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