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UPDATE: Global Minerals Unveils High-Grade Drill Results From Slovakia Project, Shrs Jump 17%

Global Minerals Ltd. (CTG.V), near a year low 10.5 cents, has announced the results of 12 new drill holes from its completed underground drill program at its 100%-owned Strieborna silver/copper project in Slovakia.

"These are very exciting results and improve the size and potential economics of the property," Global Minerals' CEO Bill Pincus said. "We have intercepted some very high grades - in some cases multiple kilos of silver per tonne."

Amongst the highlights from the drilling, drill hole STR-06-13-022 intercepted 11.7 meters containing 507 g/t silver and 1.8% copper; drill hole STR-06-13-024 intercepted 18.2 meters containing 427 g/t silver and 1.3% copper; drill hole STR-06-13-025 intercepted 16.7 meters containing 489 g/t silver and 1.5% copper and hole STR-06-13-026 intercepted 9.0 meters containing 590 g/t silver and 2.3% copper.

Global Minerals intends to use the results of the drill program to update its resource estimate and complete a preliminary economic assessment in the third quarter of 2013.

The surged 17% to $0.135 but is trading near 52-week low $0.105.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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