Mr. Michael Cella reports

GLOBAL ALUMINA RELEASES FIRST QUARTER 2012 RESULTS

Global Alumina Corp. has provided its financial and operating results for the three-month period ended March 31, 2012. 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. All dollar amounts are in U.S. dollars.

First quarter 2012 financial highlights

• In the first three months of 2012 the joint venture partners contributed capital of $21.0-million toward the approved project budget with the company contributing its $7.0-million one-third share.
• At March 31, 2012, Guinea Alumina had capitalized into construction in progress approximately $711.1-million, of which approximately $11.6-million relates to the first quarter 2012.
• As of March 31, 2012, the company had unrestricted cash of $5.1-million and escrowed cash totalling $9.7-million in its escrow account to finance future project capital calls.
• During the first quarter, Guinea Alumina Corp.'s board of directors approved additional project financing of $9.0-million for the second quarter. Global Alumina will be responsible for its one-third share.
• For the three months ended March 31, 2012, the company reported a net loss of $1,497,436 (one cent per share), compared with a net loss of $9,378,164 (five cents per share) for the same period in 2011.

At usage rates that the company currently expects in 2012, funds in escrow will be sufficient to meet its one-third share of project equity requirements through September, 2012, and unrestricted funds will be sufficient to enable it to meet its corporate operating expense requirements through September, 2013. The company does not currently expect to raise additional financing and does not expect to provide further equity financing to the project after September, 2012.

The project joint venture partners have been unable to agree on the timing of development of the project. Currently the joint venture partners are discussing options regarding restructuring ownership in the project.

We seek Safe Harbor.