Global Minerals Completes $5,000,000 Financing

About this update from District Metals Corp.

[{"type":"text","content":"\n\n\n Jul. 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, July 13, 2011 /CNW/ - Global Minerals Ltd. (CTG: TSX-V) is pleased to report that it has completed its previously announced\n non-brokered private placement financing with Geologic Resource\n Partners LLC.  Global has issued 7,142,857 common shares at $0.70 per\n share for total proceeds of $5,000,000. The shares issued are subject\n to a four month hold period.  No commissions or finder's fees were paid\n in connection with the financing. The proceeds from the private\n placement will be used to advance its high grade silver-copper-antimony\n Strieborná Project in Slovakia.\n\n\nAbout Strieborná \n\n\nStrieborná is a high-grade silver-copper-antimony vein type deposit in\n an historic mining district near the town of Roznava in eastern\n Slovakia.  The current NI 43-101 resource occurs within a mineralized\n structure 1.2 km long, 600 m deep and an average thickness of 3.4 m. \n The resource has been defined by diamond drilling and a series of four\n horizontal underground drifts totaling 3,000 m.  The mineralization is\n open in various directions along the vein structure.  Other similar\n structures have been identified within the mining and exploration\n leases and will be the focus of future exploration drill programs.\n\n\nBesides the upside of the exploration potential and the high-grade\n nature of the polymetallic mineralization, the project has excel...

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