Global Gold and Armenian Government Reach Accord

Global Gold Mining LLC and the Republic of Armenia jointlyannounce thatthey have suspended the ICSID arbitration pending conclusionof a detailedsettlement agreement. The parties have reached a confidentialagreement inprinciple, and anticipate that the final settlement agreementwill bereached within 10 days of this announcement.

In a separate development reported by Arminfo news agencyearlier thisweek, Global Gold was named to the "White List" in the categoryof miningcompanies operating in Armenia by local journalists.

Global Gold Corporation is an international gold mining,development andexploration company with mining properties in Armenia, Chileand Canada,committed to building shareholder value and maintainingsocial andenvironmental responsibilities. Global Gold Mining LLC operatesinArmenia as a subsidiary of Global Gold Corporation. GlobalGold UraniumLLC, a wholly owned subsidiary of Global Gold Corporation,is engaged inthe exploration for and development of uranium depositsin the province ofNewfoundland and Labrador.

More information can be found at .

To the extent that statements in this press release arenot strictlyhistorical, including statements as to revenue projections,businessstrategy, outlook, objectives, future milestones, plans,intentions, goals,future financial conditions, future collaboration agreements,the successof the Company's development, events conditioned on stockholderor otherapproval, or otherwise as to future events, such statementsareforward-looking, and are made pursuant to the safe harborprovisions of thePrivate Securities Litigation Reform Act of 1995. The forward-lookingstatements contained in this release are subject to certainrisks anduncertainties that could cause actual results to differmaterially from thestatements made.