STOCKS OF SILVER

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GBGD .17 BGD .17 updated NI-43-101 format independent technical report prepared by Behre Dolbear International Limited has been completed for the Toukhmanuk and Getik properties in Armenia. At Toukhmanuk, a 2.6 million ounce gold and 17.8 million ounce silver resource at average grades of 2.1 g/t and 14.1 g/t, respectively, using a 0.6 g/t cut-off is reported for the already operating bulk open pit mine.

Stripping and mining activity at the deposit has steadily increased from summer to fall this year, with two stages of stripping completed in accordance with the open pit mine plan and mining of ore reaching 1,100 tons per day, adding to an existing ore stockpile that now exceeds 30,000 tons for milling during the winter. Mining is taking place pursuant to Global Gold's mining license and previously reported reserve determinations by the Armenian Government.


The report also includes information on the previously announced initial plant expansion which is progressing well. Two new mills are installed and in testing, along with further near-term improvements to boost plant capacity and recoveries. Two concentrate shipments of 60 tons each are proceeding to offtaker Industrial Minerals in October and further shipments will follow as milling ramps up throughout the winter.