WEST BERLIN, N.J., Dec. 7 /PRNewswire-FirstCall/ -- Global Resource Corp. (OTC:GBRC) (BULLETIN BOARD: GBRC) announced today that it is in the finalized negotiations for its first licensing agreement for its revolutionary microwave technology. Qcell Corporation will be the exclusive licensee for the utilization of the GBRC technology for the recovery of oil from shale, in the shale rich countries of Eastern Europe including but not limited to Latvia, Lithuania and Estonia. Although the agreement for these territories is complete except for the U.S. Dollars per barrel in royalties to be paid, this is expected to be finalized January 2007. Qcell has already expressed interest in expanding its exclusive license to other parts of Europe. In recent tests on shale provided by Qcell, GBRC was able to extract a sufficient amount of oil from the shale to reduce its total weight by 40%. Estonian, Qcell's location, is currently only capable of reducing the weight of its shale by 15%. This increase in oil recovery translates in Qcell being able to extracting three times the amount of oil from the shale using GBRC's technology. Based in large part on these exciting results, Qcell has already agreed to purchase a pilot plant from GBRC for the processing of its shale. With the success of that unit, the company plans to purchase a full-scale plant capable of processing 3 million metric tons of shale a year and extracting up to 10,500,000 million barrels of high-grade diesel fuel, heating fuel and other fuel oils a year. These high-grade oils currently sell for $60-80 dollars a barrel. When asked to comment on the License Agreement, GBRC President Frank Pringle stated, "This is a huge step for our company to become revenue producing and a leader our industry. We are extremely excited about the revenues this deal will generate for GBRC. We are currently finalizing negotiations on the total dollars per barrel GBRC will receive in royalties for each barrel of oil Qcell generates using our patent pending technology. This means that once Qcell's full-scale plant is operational and producing the expected 10,500,000 million barrels a year. This also means that for every barrel of oil produced if GBRC only receive one dollar in royalties for a barrel we would get $10,500,000 in revenues every year for the Qcell agreement." Mr. Pringle went on to say, "The Agreement is only the first in a succession of licensing agreement we have planned for the various applications of our technology around the world." About Global Resource Corporation: Global Resources has a patent pending process that allows for removal of oil and alternative petroleum products at very low cost from various resources, including shale deposits, tar sands and waste oil streams with significantly greater yields and lower costs than are available utilizing existing known technologies. The process uses specific frequencies of microwave radiation to extract oils and alternative petroleum products from secondary raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources. Global's technology will not only be developed to extract oil from shale, but from depleted oil fields in the US and elsewhere, many of which still contain more than half of the hydrocarbons originally in these fields, because the residual hydrocarbons are too viscous to extract with conventional technology. Contact: Global Resource Corporation Phone: (856) 767-5661 Fax: (856) 767-5664 This news release contains forward-looking statements regarding Global Resource's business strategies and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, and the need to raise additional capital for growth and expansion. The forward-looking statements contained in this news release speak only as of the date hereof and Global Resource disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Global Resource's expectations or future events. DATASOURCE: Global Resource Corporation CONTACT: Global Resource Corporation, +1-856-767-5661, or fax +1-856-767-5664, or Web site: http://www.mobilestreamoil.com/

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