| March 19, 2026 – Toronto, Ontario, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide shareholders with an update on recent work undertaken by Lodestar Minerals Limited (LSR-ASX) on the Virgin Mountain Rare Earth Property located in Arizona, under option from Globex, as reported by Lodestar in a press release dated March 18, 2026.
On February 23, 2026, Lodestar reported assay results from chip samples taken over the primary structural trend. Five of the samples assayed as follows:
| Sample # |
TREO |
Contained HREO |
Nd / Pr |
| CA050 |
3.73% |
48% |
17% |
| CA052 |
1.81% |
58% |
14% |
| CA049 |
1.67% |
62% |
13% |
| CA053 |
1.41% |
64% |
12% |
| CA051 |
1.00% |
50% |
16% |
Note: Nd = Neodymium, Pr = Praseodymium.
Samples were examined using a Scanning Electron Microscope (SEM) at the Centre for Advanced Microscopy (CAM) at the Australian National University. The machine at CAM is equipped with EDS and EBSD systems for elements and crystallographic analysis.
Xenotime has now been confirmed as the dominant REE-bearing mineral, confirming heavy rare earth potential for the Virgin Mountain REE Project.
Per Lodestar, “The identification of xenotime is significant as it contains a high proportion of high value HREE’s (dysprosium, terbium and lutetium), all three of which have been repeatedly identified by agencies in the USA as critically undersupplied with severe exposure to foreign supply.” These elements are required for EV motors, wind turbines, defence systems, guidance systems, radar technology, advanced military electronics, and nuclear reactors.
“The samples with confirmed xenotime are from a mineralized shear zone within a mapped, 5 km-long structure, hosted by Paleoproterozoic gneiss.”
The following pie chart displays the average REO distribution for all Lodestar Resources samples with TREO > 1%. Pie Chart displaying average REO distribution for all Lodestar Resources samples with TREO > 1% |
Lodestar Confirms Significant Rare Earth Mineralization on the Virgin Mountain Property under Option from Globex
