GlobeStar Mining Corporation announced key highlights of its financial and operational results for the three months and year ended December 31, 2009.

Highlights

- Gross revenues for the fourth quarter of 2009 were approximately $26.5 million, operating earnings were $13.3 million and cash flows from operating activities were $7.1 million.

- For the year ended December 31, 2009, gross revenues were approximately $78.5 million, operating earnings were $31.7 million and cash flows from operating activities were $23.9 million.

- Cash, restricted cash and accounts receivable totalled approximately $24.4 million as at December 31, 2009, as compared to $5.9 million as at December 31, 2008.

- Cash costs per payable pound of copper sold during 2009 were approximately $1.58 before byproduct credits and approximately $0.81 after byproduct credits.

- GlobeStar made its quarterly scheduled repayment of long-term debt on December 31, 2009 in the amount of approximately $2.7 million, and was in compliance with all covenants under the debt facility as of that date.

- The 2010 exploration program is underway, with a focus on advancing the Moblan West lithium project in Northern Quebec, continuing the drilling in the immediate vicinity of the Cerro de Maimon Mine and following up on targets previously identified in the Bayaguana district in the Dominican Republic.