Global Explorations Inc. Issues Announcement.

VANCOUVER, BC--(BUSINESS WIRE)--Nov. 23, 1999--

GLOBAL EXPLORATIONS INC. (CDN:GXXP) (the "Company") is pleased to confirm that the Tender Offer process, initiated by the Company (earlier named Trincomali, Ltd.), has now been completed.

Accordingly, Regulation S shares have been issued to shareholders of Global Explorations Corporation ("GXC"). Consequent to the fact that over 90 % of shares of GXC were tendered, a "mandatory conversion" letter is now being circulated to those shareholders of GXC who did not tender their stock via the Tender Offer.

The Company is currently in the process of completing a Regulation S private placement, announced earlier, which has been approved by its shareholders. At the same time, the Company will proceed to formalize and expand the various business opportunities outlined in earlier communications.

CORPORATE UPDATE:

1. The single most positive factor in recent weeks has been the

progress made towards a lasting peace in Sierra Leone. More

specifically, the rebel RUF forces have now registered as a

political party (Revolutionary United Front Party) and the

6,000-strong United Nations peacekeeping force -- composed mainly

of Indian and Kenyan soldiers -- is due to arrive in Sierra Leone

in the very near future. Since democratic elections are now

envisaged as the final stage of the peace process, the Company

expects that it will be in a favourable position to capitalize on

its earlier efforts in that country, most notably business

opportunities in the trading of rough diamonds and other

strategic commodities. 2. Similar developments towards stability in the Democratic Republic of Congo and the Republic of Angola are anticipated in

forthcoming months. 3. The Company has immediate plans to activate its role in the

presentation of innovative financial products -- like forward

currency exchange contracts and asset-based swaps -- originating

in the emerging markets. For example, the Company is preparing to

close a series of forward currency transactions on behalf of

Western corporations active (in trading and in mining) in certain

countries in Africa. Also, the Company plans to acquire, through

share-for-property swaps, interests in credible mining

concessions in Western Africa. 4. In order to obtain a comprehensive insight into the Company's

activities, this press release must be read in conjunction with

(a) press releases issued earlier by the Company or by GXC and

(b) the recent Takeover Bid circular issued by the Company. 5. The Company's plans towards upgrading its status to a "reporting

company" under US legislation are proceeding and more details

will be made public in due course. The Company, pursuant to

filing a Takeover Bid circular in British Columbia, qualifies as

a reporting company under the British Columbia Securities Act;

shareholders should note that the Company and related insiders

are now subject to reporting provisions as outlined in that Act.

CORPORATE DIRECTION AND ASSOCIATED RISKS:

The Company continues to pursue the vision announced earlier this year via numerous press releases issued by GXC. Primarily, the vision is rooted in the belief that an understanding of the risks associated with conducting business in the developing markets bring unique rewards; it is the view of the Company's Directors that, in certain select circumstances, such risks are not only quantifiable but also manageable. The opportunities present themselves either through above average returns from short term trading situations or through a substantial undervaluation of proven mining and other assets in chosen countries in Africa, Eastern Europe and Asia.

However, investors are alerted to the fact that risks in developing markets do not contain the risk offset mechanisms usually available in established, mainstream economies. Any investment in the Company's shares, in that context, can be deemed speculative in nature. Whereas the expertise and contacts at the Company's disposal may well provide for a continuous stream of opportunities, profits (and losses) arising from such opportunities will not, and cannot, follow patterns commonly accepted in developed markets. Furthermore, a multitude of political factors will continue to play a significant role in the Company's near term and medium term success.

CAUTIONARY STATEMENT: This news release may include "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/ or the U.S. Private Securities Litigation Reform Act of 1995. All Statements, other than statements of historical fact included in this release, 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 that involve various risks and uncertainties. All forward-looking statements in the release are expressly qualified by this notice.