GlobeStar Provides Update on 2010 Drill Program at Moblan...

GlobeStar Provides Update on 2010 Drill Program at Moblan Lithium Project

Toronto, Ontario, October 20, 2010 -- GlobeStar Mining Corporation (“GlobeStar”) (TSX-GMI) today announced partial assay results from the 99 Diamond drill hole program conducted at the Moblan Lithium Project, a joint venture with SOQUEM Inc. (“SOQUEM”). Results show continuity of the main pegmatite sill for over 700 metres along strike with the best intercepts resulting in 33.2 metres grading 2.42% Li₂0 (Hole 1331-10-106), 37.4 metres grading 1.99% Li₂O (Hole 1331-10-22) and 36.3 metres grading 2.00 % Li₂O (Hole 1331-10-70).

Moblan Geology and Estimated Mineral Resources

The Moblan Lithium Project is located 100 km north of the town of Chibougamau, Quebec and is 60% owned by GlobeStar and 40% by SOQUEM.

Regionally, the area is underlain by the Frotet-Evans greenstone belt and the local geology is dominated by the Frotet Anticline, a prominent easterly-plunging fold in the belt. Pegmatite bodies, such as found at the project are confined within the nose of the anticline.

A 12 hole drilling program totalling 1,245 metres completed in 2007 outlined a near-surface 40-metre thick pegmatite sill which hosts a NI 43-101 compliant estimated inferred mineral resource of 5.3 million tonnes, grading 1.51% lithium oxide Li₂O at a cut-off grade of 0.43% Li₂O. Included in this resource is a higher-grade inferred mineral resource estimate of 2.1 million tonnes, grading 1.85% Li₂O at the same cut-off grade, located in the eastern part of the sill. A copy of the previously filed NI 43-101 report for this deposit, dated December 6, 2008, is available on SEDAR at