Global Prospecting Ventures Inc (GPVN)

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Global Prospecting Ventures (GPVN) Acquires Canadian Gold Properties



SAN FRANCISCO, July 6 /PRNewswire-FirstCall/ -- Global Prospecting Ventures, Inc. (Pink Sheets: GPVN) has signed an option agreement to acquire a 100% interest in the Iron Horse, Boliver and Silver King claims, a 3120 acre (52 unit) gold property located in south central British Columbia.

Early exploration of the claims dates back to 1898, when shafts and tunnels were dug on gold and silver bearing quartz veins exposed on the property. Previous gold mineralization, discovered by drilling and sampling of known surface showings, was partially the result of a program funded by Placer Dome and Fairfield Minerals Ltd.

More recent prospecting and sampling of trenches have identified mineralization with high gold values. Fine visible gold has been identified within marble containing disseminated pyrite and arsenopyrite.

Some surface sampling results are as follows:

-- A continuous chip sample garnetite skarn with 2% arsenopyrite assayed
15.6g/t gold over 1.5 meters.
-- A section across a garnet skarn near the foot wall contact of a low
angle fault assayed 38.3 g/t (1.12 opt) gold over 1.5 m.
-- A section across an arsenopyrite vein with a clay gouge yielded 15.7
g/t over 0.8m.
-- A section of altered diorite with disseminated pyrite and arsenopyrite
assayed 8.2 g/t gold over 2 m.

Grab sampling of surface exposures have returned values ranging from 0.16 to 11.19 opt gold and several large gold geochemical soil anomalies have been defined over an area greater than four and one half kilometers in length. The concentrations of gold in the soil deemed to be anomalous ranges from 20 ppb to 50 ppb; with areas of higher gold in soil ranging upwards of 490 ppb.

Some drilling results on the property are as follows:

-- A section of fine grained siliceous rock yielded 14.33 g/t Au over 1.52
meters,
-- A section of altered, sericitized and silicified sheared mudstone with
traces of pyrite and arsenopyrite assayed 16.2 g/t Au over 1.0 m. This
intersection was within a section averaging 9.38 g/t Au over 2.5 m.
-- Hole 88-20 assayed 5.8 g/t Au over 6 meters. Within this intersection a
3 meter section assayed 9.2 g/t Au.
-- Assays greater than 0.5 g/t gold came from all 12 holes drilled and no
one lithology was favored. Gold bearing intersections have been
included in skarn, marble, diorite and granodiorite, quartz veins,
limestone, argillite, and andesite all containing traces of pyrite.

Sampling by the BC Geological survey has identified highly anomalous values in copper, zinc, gold, silver, bismuth and cobalt. One such sample ran up to 1 percent copper and 19 g/t gold and 13 g/t silver.

Previous operators of the property have outlined large areas of gold mineralization that occurs in several types of litholigies over a four and one half kilometer strike length. High grade gold intercepts have come from volcanic, sedimentary and intrusive rocks on the property.

Because of the wide spread nature and various types of occurrences of gold, and the fact that visible gold have been found within a marble unit with arsenopyrite, Global's focus, in the next stage, will concentrate on a re-sampling program in order to correlate existing high grade gold intercepts and further exploration for a large bulk tonnage type of deposit.

This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.

Contact: Matt Hansen of Global Prospecting Ventures, Inc., [phone], or [e-mail].

SOURCE Global Prospecting Ventures, Inc.
-0- 07/06/2005
/CONTACT: Matt Hansen of Global Prospecting Ventures, Inc.,
[phone], or [e-mail]/
/Web site: http://www.globalprospectingventuresinc.com/
(GPVN)