Dutton Associates Announces Investment Opinion: Global Alumina Corporation Strong Speculative Buy Rating In Continuing Coverage by Dutton Associates.

EL DORADO HILLS, Calif. -- Dutton Associates continues its coverage of Global Alumina Corporation (TSE:GLA) maintaining a Strong Speculative Buy rating and an updated $2.45 price target. The report by Dutton senior analyst Les W. Childress is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias and other leading financial portals.

Global Alumina holds a long-term (minimum 75-year) mining concession in the Republic of Guinea in West sub-Saharan Africa covering 690 square kilometers, containing over one billion tonnes (metric tons) of some of the highest-quality and most prolific bauxite ore reserves in the world. Global is a pre-revenue mining company whose sole focus is construction and operation of one of the world's largest alumina refineries. Global's reserves consist of proven and probable bauxite reserves of 188 million tonnes equivalent to a 25-year supply at estimated production. However, it is possible the reserves are at least four times this figure because Global's 25-year development plan is predicated on only three of 19 resource plateaus. Guinea, itself, is believed to hold 30%-70% of the world's known reserves of bauxite. In a significant financial development, the Company recently announced it had entered into an exclusive agreement for equity and debt financing for its flagship refinery and mining project. If consummated, the Company will have the financing in hand to accelerate construction of the project. Given the financing commitment delay until December 31 and what is bound to be a later-than-hoped-for ramp up in project construction, we have lowered our short-term price target from $3.00 to $2.45 per share.

About Dutton & Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $39,500 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 4/19/2006, and does not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.