Global Makes Significant Progress and Adds to its Board of Directors

VANCOUVER, Nov. 16, 2011 /CNW/ - Global Minerals Ltd. (CTG: TSX-V) ("Global or the "Company") is pleased to announce an update on activities for its high grade silver/copper/antimony Strieborná Project in Slovakia.

UNDERGROUND ACCESS

Significant progress has been made in gaining underground access and upgrading the surface facilities. The 1600 meter haulage and access tunnel has been restored and is in use. Full electrical service has been restored along with the hoist and refurbishment of the inclined shaft down to Level 2, approximately ~75 m below surface.  The company expects to reach Level 7 (~250 m below surface) by late spring in order to commence the confirmation drilling and sampling of the underground workings and stated resources.  In parallel, the mine shaft rehabilitation will continue on an on-going basis as lower levels become accessible.

METALLURGY

Metallurgical samples, composed of material collected from the spring 2011 drill program have been subjected to conceptual level grindability and flotation studies at SGS Inc. and Blue Coast Research. Work was supervised by Chris Martin, C. Eng. and a qualified person under N.I. 43-101. The test work demonstrates that a conventional, low cost flotation process will yield a high grade silver/copper/antimony concentrate with as much as 5423 grams silver per tonne (158 tr. ounces per ton) at recoveries of 96% for silver and 97% for copper. Gold assays are pending. Key findings of the flotation tests are shown in the table below.

Strieborná Flotation Concentration Test Results
November 2011
  Grade Recovery (%)
  Cleaner 1 Conc Cleaner 1 Conc
Test ID Cu (%) Ag (g/t) S (%) Sb (%) Cu Ag S Sb
STB MC-T5 20.08 4851 19.33 15.42 97.85 95.85 92.91 96.33
STB MC-T6 20.70 4783 19.61 15.53 98.55 96.67 96.41 97.04
STB MC-T7 21.76 5423 19.26 16.59 97.00 96.27 90.39 95.54

Further testing will evaluate removal of antimony from the concentrate and its subsequent recovery using a proven hydrometallurgical process similar to what was used by Sunshine Mining in the 1990's. As an alternative, the Company will also investigate the potential demand and pricing for an untreated concentrate from various metal smelting and refining facilities.

A Preliminary Economic Assessment is planned for release in 2012 and will incorporate the metallurgical studies along with an update to mine plans.

NOMINATION OF NEW DIRECTORS

The Company is also pleased to announce the nomination of Robert Martinez, Mining Engineer and John Simko, previously CEO of Sunshine Mining, to its Board of Directors. They will stand for election at the Annual General Meeting on Dec. 6, 2011. Messrs. Simko and Martinez add years of high-level operational experience that will be of considerable benefit in developing the project.

Mr. Robert Martinez is a metallurgical engineer and has over 34 years of mine operation and plant design experience with major mining companies such as Phelps Dodge Corp, AMAX Inc., Amselco Minerals and Coeur d'Alene Mines Corp. He was General Manager of the Rochester and Alligator Ridge open pit gold mines in Nevada, as well as a senior manager at major copper/moly open pit mines in Arizona and Colorado. Mr. Martinez has served as a director for several public companies as well the Nevada Mining Association Board, the University of Nevada Reno, School of Mines Advisory Board, the UNR Biodiversity Research and Development Initiative Advisory Board and the Nevada Humanities Committee Advisory Board.

Mr. John Simko is a partner with the Moffatt, Thomas law firm in Boise Idaho where he specializes in Business, Environmental & Natural Resources, Mining and Securities law. Prior to that, he was the Chairman and Chief Executive Officer of Sunshine Mining Company. He was President of the Silver Institute, a trade association of miners and refiners of silver from the U. S., Canada, South America, and Europe from 1996 to 1998. Mr. Simko is also a Director of Idaho Bancorp. Previously, he was Commissioner of the Idaho State Bar from 1978 to 1981.

About Strieborná

Strieborná is a high-grade silver-copper-antimony vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia.  The current NI 43-101 resource occurs within a mineralized structure 1.2 km long, 600 m deep and an average thickness of 3.4 m.  The resource has been defined by diamond drilling and a series of four horizontal underground drifts totaling 3,000 m.  The mineralization is open in various directions along the vein structure.  Other similar structures have been identified within the mining and exploration leases and will be the focus of future exploration drill programs.

In addition to the upside of the exploration potential and the high-grade nature of the polymetallic mineralization, the project has excellent infrastructure, including sufficient electrical power, railway access, paved highways and a local work force experienced with underground operations. 

Global Minerals Ltd. is a Canadian exploration and development company focused on developing its high-grade silver, copper, antimony deposit in Slovakia.  Global is 32% owned by Esperanza Resources Corp. (EPZ.V) whose principals are now involved in supervising the technical programs and future development.

QUALIFIED PERSON: William Pincus, C.P.G. and CEO of Global is the Qualified Person (QP) under NI 43-101 responsible for the Strieborna exploration program. He has verified the data disclosed in this news release, including sampling, analytical and test data.

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately.  Readers should refer to the annual information form of Global for the year ended June 30, 2010 and other continuous disclosure documents filed by Global since September 30, 2010 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE Global Minerals Ltd.

For further information:

about Global, visit www.globalminerals.com, or contact: Ms. Lubica Parilakova, Investor Relations at 604.669.2355,  lparilak@globalminerals.com.

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