GLOBALTEX INDUSTRIES INC. COMPLETES NAME CHANGE TO PINE VALLEY MINING CORPORATION

VANCOUVER, BRITISH COLUMBIA May 14, 2003 – Pine Valley Mining Corporation (TSX-VE: PVM; NASD OTC: GBTXF) is pleased to announce that it has completed the name change as previously approved by its shareholders. Pine Valley Mining Corporation, formerly Globaltex Industries Inc., initiated the name change to better identify it with its primary asset, the Willow Creek coal project located in the Pine Valley near Chetwynd, British Columbia.
As of May 14, 2003 the new trading symbol on the TSX Venture Stock Exchange is "PVM". The trading symbol on the NASD OTC Bulletin Board will remain "GBTXF" until the final documentation is processed. There is no alteration of the Company's share capital.
The new website address is www.pinevalleycoal.com.

PINE VALLEY MINING CORPORATION

"Richard Palmer"               
Richard Palmer
Chief Executive Officer




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