VANCOUVER, Sept. 4 /PRNewswire-FirstCall/ - Global Minerals Ltd. (TSXV:
CTG) (OTCBB: GMLFF) (FRANKFURT: DFP) ("Global Minerals" or the "Company")
is pleased to announce that it has closed and completed the second and
final drawdown (US$1,250,000) of the US$2,000,000 convertible loan facility
with Investec Bank (UK) Limited (LONDON: INVP) (JOHANNESBURG: INP)
("Investec"). The Company completed its initial drawdown of US$750,000 on
August 15, 2008.

    The loan will be used by Global Minerals primarily for expenditures
related to its Strieborna polymetallic project in Slovakia. The proceeds
will allow the Company to part finance the pre-feasibility study and
permitting related to the Streiborna project, and to provide working
capital.

    The loan will bear interest at the rate of USD Libor plus 10% per
annum, with interest payable quarterly, in arrears. The loan must be repaid
in full upon the earlier of (i) August 15, 2009; (ii) the date of the
initial drawdown under a senior project finance facility proposed to be
arranged by Investec for Global Minerals or its subsidiary; (iii) the
closing date of any capital raising by Global Minerals in excess of
US$2,000,000 in any single raising or in aggregate over a period of 6
months, be it by issue of stock or debt. Pursuant to transferable share
purchase warrants issued to Investec on August 15, 2008, the warrantholder
has the right to purchase up to 13,477,334 common shares of Global Minerals
at a price of CDN$0.15 per share until August 15, 2009. Investec as
Warrantholder may also set off the purchase price for the warrant shares
against all or part of the outstanding principal under the promissory note.
If the Company's common shares trade at a price 180%, 200% or 220% greater
than the exercise price of the warrants for 20 consecutive trading days,
Global Minerals will have the option to force exercise of the 25%, 50% and
25% of the warrants, respectively.

    On August 15, 2008, Investec received an arranging fee of 5% of the
principal amount of the loan payable in cash or, subject to the acceptance
of the TSX Venture Exchange, the equivalent value in the Company's common
shares on the earlier of the first drawdown under the debt facility and one
month after signing of the promissory note for the first drawdown.

    The Company has granted Investec the first right of refusal to arrange
the Company's future funding needs for the Streiborna project.

    Investec is located at 2 Gresham Street, London, EC2V 7QP, United
Kingdom. For further information, please go to the Global Minerals profile
on the SEDAR website http://www.sedar.com or contact Investec at +44 20 7597 4000.

    About Investec Bank

    Investec Commodities and Resource Finance ("Investec Resources") is an
industry focused specialist finance and investment banking team that forms
part of the Capital Markets division of the Investec Group. As an
international team with representation in Johannesburg, London, Perth and
Sydney, Investec Resources' activities span the debt-equity spectrum,
focusing on Precious and Base Metals, Minerals, Oil and Gas and Emerging
and Developed Markets.

    The teams provide financing to junior and mid-tier mining companies
that develop, expand or acquire projects in emerging and developed markets
across the globe. They are also able to advise, implement and execute
hedging and structured derivative solutions in the precious and base metal
markets. To support its role in this arena, Investec Resources is a
Category 2 clearing member of the London Metal Exchange, and member of the
London Bullion Market Association and London Platinum and Palladium Market.
It also invests in mining projects at a late exploration or pre-feasibility
study stage. These investments can be taken on a proprietary basis or
through the Blackfish-Investec Resources Special Situations Fund.

    Investec Resources has an established competitive advantage as a result
of their significant technical skills, major transactional track record and
their ability to provide total solutions. Investec Resources' partnerships
with other teams in the Investec group result in an entrepreneurial
approach to strategy, creation of unique opportunities, creativity and
rapid closure of transactions.

    Investec is an international specialist banking group that provides a
diverse range of financial products and services to a niche client base in
three principal markets, the United Kingdom, South Africa and Australia as
well as certain other countries. The group was established in 1974 and
currently has approximately 6300 employees.

    Investec focuses on delivering distinctive profitable solutions for its
clients in five core areas of activity namely, Private Client Activities,
Capital Markets, Investment Banking, Asset Management and Property
Activities.

    In July 2002 the Investec group implemented a dual listed company
structure with listings on the London and Johannesburg Stock Exchanges.
Management and staff own approximately 15% of the equity share capital of
the group.

    At 31 March 2008, total shareholders' equity was (pnds stlg)2.2
billion, third party assets under management were (pnds stlg)54.2 billion
and core loans and advances were (pnds stlg)12.8 billion. The combined
group's current market capitalisation is approximately (pnds stlg)2.4
billion.

    About Global Minerals Ltd.

    Global Minerals Ltd. (TSXV: CTG) (OTCBB: GMLFF) (FRANKFURT: DFP)
focuses on the development of advanced-stage, highly profitable, mid-size
ore bodies while continuing to explore for world-class gold and silver
deposits in geopolitically stable countries. The experienced management
team has accumulated several exploration projects, operates one producing
mine and is focusing its efforts on the world-class Strieborna silver vein
in Slovakia. Please visit our website http://www.globalminerals.com



    Global Minerals Ltd.

    "George W. Heard"

    George W. Heard
    President and CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy of this news release.

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