FOR IMMEDIATE RELEASE
British Columbia, October 20, 2008, Global Minerals Ltd.
Mr. George Heard
October 20, 2008, Global Minerals Ltd. (TSX.V: CTG, FRANKFURT:DFP) (the
"Company") is pleased to announce that it has entered into
discussions with certain parties regarding the potential sale of one or
more of its assets and has subsequently entered into agreement with a
Dallas, Texas based firm, who represents one of the prospective buyers.
There can be no
assurance at this stage as to whether any transaction will be
consummated. Any potential transaction would be subject to the
negotiation and execution of a definitive agreement and other related
agreements, as well as to regulatory and other customary approvals and
The company does not
expect to disclose any further developments regarding the sale of one or
more of its assets until its board of directors has approved a
transaction or a strategic alternative.
business model is to acquire attractive, near-term producing assets 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.
information, please visit our website www.globalminerals.com and do not hesitate to
contact Mr. Derek Sutherland, Head of Investor Relations, at 778.786.1531
or email at email@example.com
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.