Global Platinum + Gold, Inc. Announces Completion of PGM Corporation Acquisition and Changes in Management

7-21-2005 

SALT LAKE CITY, July 21/PRNewswire/--The following is being issued by Global Platinum + Gold, Inc. (OTC:GPGI-news):

Global Platinum and Gold today announced that effective July 20, 2005; the Company in a stock for stock transaction has completed its acquisition of PGM Corporation. The import of this transaction is significant in that PGM owns real property consisting of approximately 307 acres that has an estimated fair market value of $3 million, with only $400,000 against it. Even more important, the Company now has full access to the expertise of the inventor, Russell Twiford and other members of management of PGM, who are fully familiar with the process and procedures relative to the proprietary process used to extract gold and platinum.

Certain changes in Management have also occurred. Frank Fornelius has resigned as an officer and director of the Company. Richard E. Jensen has resigned as President, but will stay on as a director. Richard E. Jensen, J. Scott Gardner, Robert L. Harper and Russell Twiford have agreed to serve as interim directors until the next annual meeting, tentatively planned for sometime in the fall. The directors have appointed J. Scott Gardner as President and Russell Twiford as Vice-President of Operations. Mr. Gardner has served as a consultant to PGM for over a year now; Robert L. Harper is a businessman located in Ft. Worth, Texas; Mr. Jensen has previously served as the President and a director of the Company for the past 28 years; and Mr. Twiford is the inventor of the proprietary process utilized by the Company.

With regards to the status of the Company’s mining operations, we are ready to go into production. Our plans to construct a new facility on PGM’s real property has been delayed in that the vendor who agreed to provide the funds for the building and the equipment determined they are an equipment vendor only, so we are in the process of seeking funds for the building (estimated cost $200-250,000) and funds to purchase the inquart (pure gold and platinum) needed to proceed. The Company is presently examining a number of options, including using the real property to borrow against. The Company fully expects to obtain the needed funding in an expeditious manner.

This communication to shareholders and the public contain certain forward looking statements. Actual results may vary materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding estimated reserves, estimated future production, and the value thereof, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.