Global Minerals Ltd. Closes Non-Brokered Financing

VANCOUVER, March 22, 2012 - Global Minerals Ltd. (the "Company") (TSX VENTURE:CTG) (FRANKFURT:DFP) is pleased to announce that, further to its news releases of February 24, 2012, February 27, 2012 and March 20, 2012, it has closed its non-brokered private placement (the "Private Placement") of 27,777,556 units (the "Units") at a price of $0.45 per Unit for gross proceeds of $12,499,900.20. Each Unit consists of one common share of the Company (each, a "Share") and one transferable common share purchase warrant of the Company (each, a "Warrant"). Each Warrant entitles the holder to acquire an additional Share until March 22, 2014 at a price of $0.75 per Share, provided that, if over a period of ten consecutive trading days after July 22, 2012 and during the term of the Warrant, the daily volume weighted average trading price of the Shares on the TSX Venture Exchange (or such other stock exchange on which such shares are listed) is greater than $0.90 on each of such days, then at the Company's discretion, it may, within ten trading days of such ten day period, change the expiry date of the Warrants by giving notice in writing to the holders and issuing, on the date of such notice, a news release that the Warrants will expire on the 20th calendar day following the date of such news release.

In connection with the Private Placement, the Company has paid cash finders' fees to certain finders for an aggregate amount of $483,963, which is equal to 6% of the total subscription amount of the number of Units purchased by subscribers introduced by the Finders to the Company, and has issued an aggregate of 1,075,472 finders' warrants (the "Finders' Warrants"), which is equal to 6% of the number of Units purchased by subscribers introduced by the Finders to the Company. The Finders' Warrants are exercisable into a Share at a price of $0.60 per Finders' Warrant until March 22, 2014.

All securities issued pursuant to the Private Placement will be subject to a four month hold period expiring on July 23, 2012. The proceeds from the Private Placement will be used to further the development of the Strieborná project and for general working capital.

Global Minerals Ltd. is a Canadian exploration and development company focused on developing its high-grade silver, copper, antimony deposit in Slovakia. Global is 32% owned by Esperanza Resources Corp. whose principals were previously familiar with the Streiborná Project and are now involved in supervising the technical programs and future development.


This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES



Contact Information

Global Minerals Ltd.
Ms. Lubica Parilakova, Investor Relations
(604) 669-2355
lparilak@globalminerals.com

Global Minerals Ltd.
Mr. William Pincus, Chief Executive Officer
(303) 803-0988
pincus@globalminerals.com
www.globalminerals.com