PINE VALLEY MINING CORPORATION RECEIVES NEW NASDAQ TRADING SYMBOL

VANCOUVER, BRITISH COLUMBIA (PRWEB) May 18, 2003 -- Pine Valley Mining Corporation (formerly Globaltex Industries Inc., TSX-VE: PVM; NASD OTC: PVMCF) is pleased to announce that it has received notification of a new trading symbol, PVMCF, on the NASD OTC Bulletin Board following the recent name change.
Pine Valley Mining Corporation changed its name from Globaltex Industries Inc. to better identify it with its primary asset, the Willow Creek coal project located in the Pine Valley near Chetwynd, British Columbia.
The trading symbol on NASDAQ OTC Bulletin Board is now PVMCF". The trading symbol on the TSX Venture Stock Exchange is PVM". There is no alteration of the Companys share capital.
The new website address is www.pinevalleycoal.com.

PINE VALLEY MINING CORPORATION

Richard Palmer"            
Richard Palmer
Chief Executive Officer
###
Contacts:

Richard Palmer            Mark Fields   
Chief Executive Officer         President
011- 614-3947-3742         (604) 682-4678            
or within Australia 0439-473-742    Vancouver, British Columbia, Canada
Sydney, Australia         markfields@radiant.net
rpalmer@aol7.com.au

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT

This news release contains certain "forward looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties including but not limited to economic, competitive, governmental and geological factors effecting the Company's operations, markets, products and prices and other risk factors. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Discussion of the risk factors faced by the Company are discussed in greater detail in the Company's various filings with the Securities and Exchange Commission and Canadian securities regulators, including the Companys Form 20-F dated September 25, 2002 and the Companys Annual Information Form dated January 24, 2003.