GlobeStar Announces Appointment of David Brace as CEO

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2008) - GlobeStar Mining Corporation ("GlobeStar" or the "Company") (TSX: GMI.TO) is pleased to announce the appointment of David Brace as Chief Executive Officer. David holds a B.Sc., Geology and an MBA; he has over 30 years experience in the mining industry. His most recent position was as senior executive of Aur Resources Inc. before its acquisition by Teck Cominco Limited.

"GlobeStar was fortunate to attract such a competent, experienced executive to lead the Company into the next phase of its evolution", commented Larry Ciccarelli, Chairman of the Board and interim CEO.

"We have an outstanding team of professionals who have successfully transitioned the Company from an exploration company to a profitable producer. The GlobeStar team has provided shareholders with a base on which to grow the Company to the next level - and it is this foundation of high quality people and projects which has attracted me to this opportunity", stated Mr. Brace.

GlobeStar is currently producing copper concentrate from its 1300 tonne per day sulphide processing plant at its 100% owned Cerro de Maimon copper/gold project in the Dominican Republic. Approximately 2500 metric tonnes of copper concentrate grading about 30% copper, with gold and silver credits has been produced for shipment. A first shipment of at least 2,500 metric tonnes of copper concentrate to a smelter in China is scheduled to take place on or about the end of October 2008.

The Board of Directors wishes to thank Larry Ciccarelli for his service as interim CEO since February 2008. The commissioning of the 700 tonne per day oxide gold and silver plant that is part of the Cerro de Maimon project has been completed and start-up of this facility is currently underway.

A.E. Olson, MAusIMM, the Company's Vice President Projects and a Qualified Person as defined under Canadian National Instrument 43-101, supervised the preparation of and verified the technical information contained in this release.

About GlobeStar

GlobeStar Mining Corp. is a mining and exploration company. Production has commenced at its Cerro de Maimon copper and gold project in the Dominican Republic. The Company maintains a listing on the Toronto Stock Exchange (symbol: GMI).

Cautionary Statements Concerning Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to as ''forward-looking statements''). Forward-looking statements include possible events, statements with respect to possible events, the timing of the completion of all construction activities, the timing of completion of the commissioning of the sulphide and oxide process plants, the timing of start-up, ramp-up and design grades of the sulphide and oxide gold and silver processing plants, the commissioning and the start-up of all other aspects of the Cerro de Maimon project, the projections of the grades of material to be processed, the power plant operation, the completion of the water retention ponds, the co-disposal facility, and all other facilities, the timing of shipment of copper concentrate, and the costs relating to any of these commissioning, start-up or other related activities or requirements. The words ''plans,'' ''expects,'' ''is expected,'' ''scheduled,'' ''estimates,'' ''forecasts,'' ''intends,'' ''anticipates,'' or ''believes,'' or variations of such words and phrases or statements that certain actions, events or results ''may,'' ''could,'' ''would,'' ''might,'' ''will be taken,'' or ''occur,'' and similar expressions identify forward-looking statements.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable to GlobeStar as of the date of such statements are inherently subject to significant risks and uncertainties. Because of these risks and uncertainties and, as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated, implied or indicated by these forward-looking statements. Although GlobeStar believes that the expectations reflected in its forward-looking statements are reasonable, we can give no assurances that the expectations of any forward-looking statements will prove to be correct. All of the forward-looking statements made in this news release are qualified by these cautionary statements, and those made in the "Risk Factors" section of our most recently filed Annual Information Form and our other filings with the securities regulators of Canada. These factors are not intended to represent a complete list of the factors that could affect GlobeStar. GlobeStar disclaims any intention, and assumes no obligation, to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise, except as required pursuant to applicable securities laws.

Contacts

David Brace
GlobeStar Mining Corporation
Chief Executive Officer
(416) 868-6678 Ext: 4042
Email: dbrace@globestarmining.com

Larry Ciccarelli
GlobeStar Mining Corporation
Chairman of the Board
(519) 337-0535 x224
Toronto Office: (416) 868-6678 Ext: 4036
Email: lcicc@karrsecurities.com

Gus Garisto
Bay Street Connect
(416) 607-6023
Email: gus@baystreetconnect.com