GGOC HAS A LITHIUM PROJECT WITH GOOD POTENTIAL

SOURCE: Global Gold Corp

Nov 16, 2010 16:03 ET

Global Gold Corp. Announces the Acquisition of 10 Strategic Claims Located Nearby "Globe Star-Soquem" Moblan Lithium Deposit

MONTREAL--(Marketwire - November 16, 2010) - GLOBAL GOLD CORP., (PINKSHEETS: GGOC) announced today the acquisition of 10 strategic mining Claims located nearby "GLOBE STAR-SOQUEM" Moblan Lithium Deposit.

Mr. Chandra Panchal CEO reports:

"The strategic mining properties were acquired from 'IMINESCO INC' (http://www.iminesco.com/) in return consideration of 1 million restricted shares of Global Gold Corp., plus a 2% net smelter return, and the engagement of proceeding to a minimum of $100,000 in exploration work within a 1 year period of signing the agreement.

"The IMINESCO properties are located 112 kilometers north of Chibougamau and are accessible from Chibougamau via Route du Nord, an all-weather gravel road, to Kilometers 112.5 where a 2-kilometer winter trail runs south to the centre of the Moblan West property.

"We have received key information on the properties that are very promising and we are currently evaluating the potential exploration work plan with our geologists. This is the first of a strategic list of acquisitions that we have been negotiating for and we anticipate more property acquisitions in a near future."

For more information on the property, please visit http://www.ggocinc.com/

ABOUT THE MOBLAN LITHIUM DEPOSIT

Moblan project covers a group of pegmatite sills and dykes in Archeanage greenstone north of Chibougamau, Quebec, Canada that are characterized by high lithium (Li) values in the mineral, spodumene, a lithium aluminum silicate. The project is divided into two areas, West and East. The Moblan West property hosts the Main Sill pegmatite body.

The Moblan West property comprises 14 contiguous staked claims covering 235 hectares in which GLOBESTAR earned an interest of 60% from SOQUEM in November 2008, having exceeding the required initial earn-in of US$150,000. A Technical Report prepared for GlobeStar on the Moblan West property was completed in December 2008. It provided Indicated mineral resources for the Main Sill in the Moblan West property of 5.34 million tons at an average grade of 1.51% Li2O and a cut-off grade of 0.43% Li2O.

In the higher grade eastern half of the Moblan West property, Indicated mineral resources were estimated at 2.09 million tonnes at an average grade of 1.85% Li2O, and at the same cut-off grade.
For more information: http://www.globestarmining.com/

About Global Gold Corp.

Global Gold Corp is a Toronto based Canadian precious and base metals exploration and Development Company with mining interests in Quebec, Canada

For more information on Global Gold Corp:

Please visit our Website at http://www.ggocinc.com/

Or send an email at: info@ggocinc.com

Forward-Looking Statements

Please be advised that statements made herein, other than historical, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

THE MOBLAN LITHIUM PROJECT GOT A MENTION IN THE TAKEOVER STORY REGARDING GLOBESTAR

Perilya to Buy Globestar for $182 Million, Gaining Copper, Gold Project

By Jason Scott - Oct 6, 2010 9:56 PM ET 

Perilya Ltd., a zinc and lead miner, agreed to buy Canada’s Globestar Mining Corp. for C$184 million ($182 million), giving the Australian company an operating copper, gold and silver project.

The Perth-based company will pay C$1.65 a share for Globestar, a 30 percent premium on the Toronto-based miner’s last traded share price, Perilya said in a statement to the Australian stock exchange today. Globestar agreed to the all- cash offer and China’s Shenzhen Zhongjin Lingnan Nonfemet Ltd., which owns 52 percent of Perilya, supports the purchase, it said.

Buying Globestar will give Perilya the Cerro de Maimon mine and base metal exploration tenements in the Dominican Republic and a 60 percent stake in the Moblan lithium project in Quebec. The Australian miner operates the Broken Hill zinc, lead and silver mine in New South Wales state and the Flinders zinc silicate project in South Australia state.

Perilya shares, after gaining 6.8 percent yesterday, rose 2.1 percent to 48 cents at 12:48 p.m. in Sydney, giving it a market value of A$252 million ($248 million).

To contact the reporter on this story: Jason Scott in Perth at jscott14@bloomberg.net