CHILE

GLOBAL GOLD VALDIVIA
Global Gold entered the Chilean market in 2001, and in 2007, Global Gold acquired a 51% interest in Global Gold Valdivia, a placer and hard rock gold property.  Located in southern Chile near Valdavia, the property covers approximately 25,000 hectares in historically rich gold mining areas.  Global Gold has the benefit of an experienced technical team and local office in Santiago since 2002.  Infrastructure in and around the property is good. 

Global Gold Valdivia is a property in the pre-production stage.  Twelve placer mining sites are ready to go into production, and we expect production to commence in 2009.  Geologists estimate production at 200,000 ounces per year within three years.  The average cost of production is estimated to be quite low, at $125 per ounce. 

Geologists surveying the Global Gold Valdivia property have estimated the placer deposit at 7.4 million ounces of gold.  The placer deposit is known to exist in a paleochannel which winds through the property.  Actual gold grade is unknown; however, gold is visible everywhere with the size of gold nuggets ranging from 10 g to 50 g., and occasionally up to 120 g.  The largest nugget discovered in the area is 126 g.  Gravel deposits have approximate dimensions of length 1 km to 3 km; width 80 m to 400 m; thickness 15 m to 40 m; and overburden thickness 2 m to 15 m.  The 43-101 report for Madre de Dios can be viewed on our website. 

Disclaimer:  To the extent that statements are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.  Former Soviet country or “GKZ” estimations are presented for historical reporting and to provide a basis for assessing Global Gold’s choices for its business activities and not to be understood as indicating the existence of reserves or resources.