Globestar Mining Corp (C:GMI)
Shares Issued 100,280,767
Last Close 9/12/2007 $1.63
Thursday September 13 2007 - News Release

Mr. William Fisher reports

GLOBESTAR MINING PROVIDES UPDATE ON DOMINICAN REPUBLIC NICKEL EXPLORATION PROGRAM

GlobeStar Mining Corp. has released the results of a further 17 diamond drill holes as part of its 64-hole infill drill program previously announced for its Cumpie Hill deposit in the Dominican Republic. To date, results from 50 of the 64-hole program have now been released. Drilling of the remaining 14 holes has been completed and assays are pending. Approximately 21 holes out of a planned 27-hole program have been completed at Loma Mala.

The Cumpie Hill results include one hole, CM-LATD-122, which returned 27.4 metres grading 1.78 per cent nickel. Other notable intersections include 19.8 metres grading 1.72 per cent nickel (hole CM-LATD-124) and 16 metres grading 1.74 per cent nickel (hole CM-LATD-102).

"The high-grade nickel drill hole results continue for GlobeStar's nickel laterite program," commented Bill Fisher, GlobeStar's chief executive officer. "Extra holes have been allocated to Cumpie Hill and also Loma Mala before the company starts on its next target, Los Mellizos."

The company has completed the phase 2 grid diamond drilling on 71-metre centres at Cumpie Hill and is seeking to upgrade this discovery to a mineral resource estimate. F. Roger Billington, PGeo, and consultant geologist to the company, in conjunction with Snowden & Associates of Vancouver, Canada, the company's engineering consultants, have been retained to independently prepare a formal National Instrument 43-101-compliant mineral resource estimate for Cumpie Hill, which is expected to be completed later this year. A further eight holes have been selected by Mr. Billington to test extensions of the Cumpie Hill mineralization. All the holes reported today, except two, encountered nickel laterites grading over 1 per cent nickel. SGS Lakefield of Ontario, Canada, has been separately retained to conduct a metallurgical test program to define different options for processing of the nickel laterites. The preliminary results of this research are planned to be released concurrently with the Cumpie Hill National Instrument 43-101-compliant mineral resources estimate.

Approximately 21 holes have been completed of the planned 22-hole program for the Loma Mala ridge (adjacent to Cumpie Hill), where earlier drilling included 13 metres grading 2.01 per cent nickel (see news in Stockwatch of Feb. 9, 2007). Assays are pending for all 22 holes. Five more holes have been selected to test the boundaries of the deposit.

Characterization of the nickel mineralization at Loma Mala is currently expected to be published by the company in a separate National Instrument 43-101-compliant technical report.

       INFILL DRILLING PROGRAM SUMMARY RESULTS -- CUMPIE HILL

Hole                From         To               Width         Ni       Co

                  (metres)   (metres)            (metres)      (%)      (%)

CM-LATD-102         1.00      17.00               16.00       1.74     0.03

CM-LATD-103         0.00       6.00                6.00       1.30     0.02

CM-LATD-104         0.00       5.00                5.00       1.13     0.02

CM-LATD-105                         No significant intersection

CM-LATD-106         0.00       9.00                9.00       1.61     0.02

and                17.00      21.00                4.00       1.24     0.02

CM-LATD-107         7.00      13.00                6.00       1.48     0.10

and                19.00      24.00                5.00       1.43     0.02

and                29.00      32.00                3.00       1.60     0.01

CM-LATD-108                                 Assays pending

CM-LATD-109                                 Assays pending

CM-LATD-110                                 Assays pending

CM-LATD-111                                 Assays pending

CM-LATD-112                                 Assays pending

CM-LATD-113                                 Assays pending

CM-LATD-114         1.25       4.00                2.75       1.85     0.04

CM-LATD-115         2.00      17.00               15.00       1.70     0.02

CM-LATD-116         2.00      15.00               13.00       1.28     0.02

CM-LATD-117                                 Assays pending

CM-LATD-118                                 Assays pending

CM-LATD-119         1.20      10.00                8.80       1.60     0.02

CM-LATD-120                                 Assays pending

CM-LATD-121         2.00      10.00                8.00       1.07     0.04

CM-LATD-122         1.40      28.80               27.40       1.78     0.02

CM-LATD-123        11.00      23.80               12.80       1.68     0.10

CM-LATD-124         2.00      21.75               19.75       1.72     0.04

CM-LATD-125                                 Assays pending

CM-LATD-126                         No significant intersection

CM-LATD-127                                 Assays pending

CM-LATD-128                                 Assays pending

CM-LATD-129         4.30      28.20               23.90       1.50     0.05

Holes CM-LATD-102 to CM-LATD-129: intercepts greater than or equal 

1-per-cent-Ni cut-off

GlobeStar's nickel exploration strategy continues to be to identify areas of nickel laterite potential and then drill each area at a density suitable for formal mineral resource estimates. The company plans to publish separate resource estimates as each program is completed.

Nickel laterites grading over 1.7 per cent nickel have been discovered at Cumpie Hill and Loma Mala, where the company's exploration programs have been focused. Other promising areas include Corozal, Loma Prieta Ridge and Loma Prieta Valley, and have returned prospecting pit samples grading over 1.7 per cent nickel in near-surface nickel laterites. These areas are currently slated to be drilled later as part of the company's continuing exploration program. Nickel laterites have also been mapped at Los Mellizos. Earlier this year, GlobeStar completed a Dighem airborne electromagnetic (EM)/magnetic survey covering 95 square kilometres of nickel-bearing peridotite concessions. Data from this work are being used for the selection of new areas of nickel potential for GlobeStar's continuing surface mapping program.

"While we look forward to publishing our first National Instrument 43-101-compliant nickel resource estimate for Cumpie Hill and our other nickel-bearing deposits, we recognize that the full economic potential of the complete belt will only become clear as we systematically publish resource estimates from our discoveries," concluded Mr. Fisher.

Sample preparation was undertaken at the SGS Lakefield laboratory and the pulps have been analyzed there using tetraborate fusion XRF. Full QA/QC procedures were implemented, including the insertion of standards, duplicates and blanks. Check samples representing approximately 10 per cent of all the samples will be sent to another international laboratory for analysis by XRF.

This news release was prepared by GlobeStar and the data validated by F. Roger Billington, PGeo, and consulting geologist, who is the designated independent qualified person as defined in National Instrument 43-101 for GlobeStar nickel laterite exploration.

© 2007 Canjex Publishing Ltd.