Global Minerals Ltd. announces $3,000,000 brokered private placement



    TSX Venture Exchange
    Symbol: CTG
    Frankfurt Exchange
    Symbol: DFP

    VANCOUVER, Jan. 31 /CNW/ - Global Minerals Ltd. (TSX.V: CTG,
FRANKFURT:DFP) (the "Company") is pleased to announce that it has negotiated a
brokered private placement for gross proceeds of up to $3,000,000 through the
issuance of 15,000,000 common shares, on a best efforts basis, with Dominick &
Dominick Securities, Inc., of Toronto, Canada (the "Agents"). The financing
will consist of the issuance of units ("Units") at $0.20 per common share in
the capital stock of the Company. Each Unit will be comprised of one common
share (a "Share") and one-half of one common share purchase warrant (a
"Warrant"), and each Warrant will entitle the holder to purchase one
additional common share at the price of $0.30 for a period of 24 months
following the closing.
    The Agents will receive a cash commission on the sale of the Units
representing 7% of the gross proceeds. The Company will also issue share
purchase warrants to the Agents on closing (the "Agents' Warrants")
representing 10% of the number of Units sold under the Offering. Each Agent
Warrant will entitle the holder thereof to purchase one unit of securities of
the Company (an "Agent's Unit") at $0.20 per unit for an 18-month period
following the closing of the Offering.
    The proceeds of the financing will be used by the company for the
continued exploration and development of its Colorado operations and its
Streiborna high grade Silver mine project and for general working capital.
    The financing is subject to acceptance by the TSX Venture Exchange.

    About Global Minerals

    Global Minerals' business model is to acquire attractive, near-term
producing assets while continuing to explore for world-class gold and silver
mineral deposits in geopolitically stable countries.
    The company occupies a market niche by focusing on the development of
advanced-stage, high grade, mid-tier sized ore bodies. This segment of the
mining industry has been abandoned by the major mining companies in their
quest for "World Class" mineral deposits.

    About Dominick & Dominick Securities, Inc.

    Dominick & Dominick Securities, Inc., an affiliate of Dominick & Dominick
of New York, is active in trading and financing a range of public and private
companies and have operated in Canada since 1929.

    Global Minerals is a Canadian-based company with focus on the
acquisition, exploration and development of mineral property interests.

    Global Minerals Ltd.

    "George Heard"

    George W. Heard
    President & CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy of this release.





For further information:

For further information: about Global, visit www.cgmltd.com, or contact
investor relations at (778) 786-1531 or email dsutherland@cgmltd.com

Organization Profile

GLOBAL MINERALS LTD.

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