PINE VALLEY MINING CORPORATION RECEIVES NEW NASDAQ TRADING SYMBOL

VANCOUVER, BRITISH COLUMBIA May 16, 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 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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