Karmin Exploration fka KAR

[MWM]

David Brace

GlobeStar Mining Corporation has a professional management team with experience in different areas.

Management

David Brace, P.Geo., B.Sc., MBA, Chief Executive Officer & Director
Mr. Brace was President of the South America Division and Executive Vice President Business Development of Aur Resources Inc. Aur was acquired by Teck Cominco in 2007. Mr. Brace was Manager of Business Development of Canada Tungsten Mining Corp. From 1976 to 1986 Mr. Brace worked as the Chief Geologist at two underground mines and as a financial analyst.

GlobeStar Announces Take-Up of Shares by Perilya Canada

Press Release Source: GlobeStar Mining Corporation On Monday December 13, 2010, 10:42 am EST

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - GlobeStar Mining Corporation ("GlobeStar") (TSX:GMI - News) today announced that 108,899,358 (or approximately 97.77%) of its common shares on a fully-diluted basis were validly deposited pursuant to the previously announced offer by Perilya Canada Limited ("Perilya Canada"), a direct wholly-owned subsidiary of Perilya Limited, to acquire all of the outstanding common shares of GlobeStar (the "Offer") and that Perilya Canada has taken up all of such common shares. Perilya Canada has indicated that it intends to exercise its statutory rights under the compulsory acquisition provisions of the Canada Business Corporations Act to acquire the remaining common shares of GlobeStar that were not deposited pursuant to the Offer. Under the terms of the Offer, shareholders of GlobeStar are entitled to receive Cdn.$1.65 in cash for each common share tendered pursuant to the Offer.

About GlobeStar

GlobeStar Mining Corporation is a Canadian-based mining and exploration company producing copper, gold and silver at its Cerro de Maimon mine in the Dominican Republic. GlobeStar is also exploring for copper and gold on its extensive mineral concessions in the Dominican Republic, and holds significant interests in the Moblan lithium project in Quebec, Canada, and the Cumpie Hill lateritic nickel deposit in the Dominican Republic. GlobeStar maintains a listing on the Toronto Stock Exchange (symbol: GMI).