SAN FRANCISCO, July 20, 2005 (PRIMEZONE) -- Global Prospecting Ventures, Inc. (Pink Sheets:GPVN) has commenced a re-sampling program on its Iron Horse property. The necessary permits have been granted for work advancement. Re-sampling is necessary to evaluate existing high-grade gold intercepts for further exploration and for a large bulk tonnage type of deposit.
Some previous surface sampling results returned values ranging from 8.2 g/t to 38.3 g/t (1.12 opt) gold and grab sampling of surface exposures have returned values ranging from 0.16 to 11.19 opt gold. Global anticipates results which will compare with those previously returned.
Previous operators of the property have outlined large areas of gold mineralization that occurs in several types of litholigies over a four and one-half kilometer strike length. High-grade gold intercepts have come from volcanic, sedimentary and intrusive rocks on the property.
Based on the previous work completed on the Iron Horse property, Global considers the potential for new gold discoveries to be excellent.
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.