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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (21886)	6/20/2008 9:43:10 PM
From: LoneClone	Read Replies (1) \| Respond to of 192788

Global Minerals Ltd. Provides Production and Sales Update for Front Range Project Fri Jun 20, 9:30 AM ca.news.finance.yahoo.com VANCOUVER, June 20 /CNW/ - Global Minerals Ltd. (CTG: TSX-Venture Exchange, DFP: Frankfurt Exchange, OTC: GMLFF.PK) is pleased to provide a Production and Sales update for the Front Range Project. FRONT RANGE PROJECT: PRODUCTION & SALES UPDATE Gold & Silver Sales Seven truckloads of concentrate have been shipped to date in 2008. This compares to eight truckloads for all of 2007. It is anticipated that an additional fifteen 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 (approx. 80% 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 & Development Mine production is averaging 35-60 tons per day, 4 days per week. The mill operates 24 hours per day, 4 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. Re-development 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 cross cut to the northern part of the Freiburg vein is progressing at 2m 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 30-40 m of stoping on the Freiburg vein. Core drilling in the Cash northeast has identified the Saint Joe vein underground less than 30 m 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 Three hundred and fifty five feet of drifting on the Cash Vein to the Northeast has yielded 106 feet of 0.53 opt Au, 1.2 ft stope (weighted average) and 124 feet of 1.22 opt Au, 0.94 ft stope. Over 1500 feet of underground drilling has identified 3 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 .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 .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 .232, .214, .057 opt gold and 1.72, .58, .02 opt 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. This press release was prepared by George Heard, BSC, MBA, Peng, a qualified person in accordance with National Instrument 43-101 standards of disclosure for mineral projects. Global Minerals Ltd. "George W. Heard" George W. Heard President and CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Contacts About Global Visit www.globalminerals.com or contact investor relations Derek Sutherland at (778) 786-1531 or email dsutherland@cgmtld.com