Global Alumina Releases First Quarter 2013 Results

Global Alumina Corporation announced today its financial and operating results for the three month period ended March 31, 2013. The text of the quarterly unaudited financial statements and management's discussion and analysis can be viewed or printed from the Company's SEDAR reference page at www.sedar.com. All dollar amounts are in U.S. dollars.

First Quarter 2013 Financial Highlights
For the three months ended March 31, 2013, the Company reported a net loss of $2,958,989 ($0.02 per share) compared to a net loss of $1,497,436 ($0.01 per share) for the same period in 2012. As of March 31, 2013, the Company had cash of $0.67 million, and a working capital deficit of $1.59 million. Subsequent Events

On May 15, 2013, the Company announced that it entered into a share purchase agreement ("SPA") with DM GAV Limited, a company established and equally owned by Mubadala Development Company PJSC and Dubai Aluminium, to sell all of Global Alumina's interests in Guinea Alumina Corporation Limited ("Guinea Alumina") to DM GAV. Pursuant to the SPA, DM GAV will make a US$2 million advance payment to Global Alumina on signing of the SPA and will pay an additional US$36 million upon completion of the transactions contemplated by the SPA ("Completion"), which is scheduled to occur on or before August 31, 2013.

Coincident with this transaction, Global Alumina International Limited ("GAIL") and The Broken Hill Proprietary Company PTY Limited ("BHP Billiton") have agreed to terminate their share purchase agreement which was announced on November 1, 2012. Concurrent with this termination and execution of the SPA, DM GAV signed a share purchase agreement directly with BHP Billiton to buy all of BHP Billiton's interests in Guinea Alumina.