New Global to Acquire El Tesoro Mine in Colombia

VANCOUVER, BC - New Global Ventures International Ltd. reported that it has entered into a binding Letter of Intent to acquire a 100% interest in the El Tesoro Gold Mine, from Global Mining S.A.S., a private Colombian company. The El Tesoro Mine is located in the Northeast Department of Antioquia, Colombia. The project is comprised of 622 hectares and is located in the Puerto Berrio Mining District, adjacent to concessions owned by AngloGold Ashanti, Mineros S.A. and the Minas el Vapor Gold Mine which has been operating for over 80 years. The property is located on the Palestina Fault Zone, which extends from the department of Pasto in southern Colombia to Cordoba in northern Colombia, and is spatially associated with major mining districts throughout its length. At the project area, the fault zone is believed to have localized the intrusive bodies which produced the mineralization. El Tesoro hosts a total of 10 tunnels in which there is currently artisanal mining occurring on the property. The project has an elevation below 1,000 meters and is therefore unaffected by Law 1382 of 2010, restricting mining above 3,200 meters.