Globex Mining completes surveys at Franceour

Aug 21, 2018

2018-08-20 11:03 ET – News Release

Mr. Jack Stoch reports

GLOBEX HAS A VERY BUSY YEAR SO FAR

Globex Mining Enterprises Inc. has completed line cutting and magnetometer and very low frequency surveys over the area which covers the newly delineated South Shear on the Francoeur/Arntfield gold mines property where stripping, channel sampling and diamond drilling returned significant gold values (channel sampling up to 9.52 grams per tonne gold over 7.1 metres, drilling 4.04 g/t Au over 7.34 m) as reported in press releases dated Sept. 25, 2017, and Dec. 6, 2017, and the area 450 metres to the south of the South Shear henceforth called the 450 zone, where grab samples grading up to 14.16 g/t Au were recovered and reported in the Globex press release dated June 12, 2018 (grab samples are selective by nature and are unlikely to be representative of average grade).

Globex has now received the permits required to cut an access road to the 450 zone area and undertake stripping in four separate mineralized areas. In addition, trenches dating back to the 1930s will be cleared. The stripped areas and cleared trenches will then be pressure washed, mapped and channel sampled. Contracts have been given out.

Globex continues to undertake work on other projects including Globex’s Lake Ontario illmenite property (soil sampling and prospecting), New Richmond antimony/gold property (mapping and rock sampling), Fontbonne polymetallic (zinc, gold) property (mapping and rock sampling), Moly Hill mine (silicon dioxide (SiO2), molybdenum (Mo)) (channel sampling), new Ruisseau Marriot polymetallic (copper, Zn, Au) property (mapping and rock sampling), Hunter East (Cu) property (mapping and rock sampling) and Pyrox (Au, nickel, Cu, platinum, palladium) property (airborne magnetometer survey). Work will be starting shortly on its Dalhousie copper nickel property and Kelly Lake historical copper, nickel and cobalt deposit.

In addition, a large amount of detailed geological compilation and study was undertaken on the company’s newly acquired Gagne gold property in the Joutel mining camp, the Gull Island (Cu, Pb, Zn), Opawica River (Au), Lake Wachigabau (Cu, Au), Lake Wachigabau North (Au, Cu, Ag) and Lake Wachigabau West (Au), l’Esperance NW (Au) and Shortt Lake South gold and base metal properties located northwest and south of Globex’s Shortt Lake gold mine, the Lac Trinity Chibougamau base metal property and the Canal gold and zinc property, the Windfall and Black Dog area gold claims, the Cameron Lake gold property, the Napping Dwarf (Au) claims, the Viking Lake zinc property, and the Rosario Troilus gold property.

The company has also acquired a number of new properties and increased the size of several. In particular, it recently staked the Discoflo gold property and added a strategic claim to its Turner Fall rare earth property. In addition, the company staked a lithium property adjoining the Authier lithium deposit on the east side and a number of copper, nickel and cobalt properties.

Globex’s partners continue to work on a number of its optioned or royalty properties including Sayona Mining Ltd., which is advancing the Authier Lithium deposit, a Globex royalty project toward production, Chalice Gold Mines drilling on its Nordeau East and West gold properties, Renforth Resources Inc. drilling on Globex’s Parbec gold deposit, Eros Resources Corp. having completed a preliminary economic assessment on the Bell Mountain gold/silver deposit, Galway Metals Inc. on the company’s Montgolfier gold royalty property, EnerSpar Corp. drilling on its Johan Beetz Feldspar royalty property, Vanadium One Energy Corp. drilling on the company’s Mont Sorcier Vanadium royalty property, Tres-Or Resources Ltd. drilling and 3-D modelling on its Duvay gold royalty property, Falco Resources Ltd. drilling on its Donalda gold mine royalty property, Enforcer Gold Corp. drilling on the Montalembert property, Osisko Metals Inc. prospecting and induced polarization survey on its Certac royalty property and Radisson Mining Resources drilling on its Kewagama royalty claims to name a few.

Globex suggests that interested parties visit the websites of its partners to obtain detailed information regarding the work undertaken on Globex’s optioned or royalty properties.

Globex has optioned a number of other properties to third parties and will announce the agreements in due course.

In Germany, the company completed its first-year exploration program on its huge Braunsdorf silver property including prospecting, mapping, rock sampling, assaying and compilation. Globex is currently giving out a contract for a drone magnetometer survey over priority areas identified from its previous work (see press release dated June 7, 2018).

In other news, Enforcer Gold has terminated its option of Globex’s Montalembert gold project. One hundred and thirty two cells will be returned to Globex. Globex shall maintain a 1.5-per-cent net smelter royalty on cells that Enforcer maintains with three kilometres of the Globex land package. While Enforcer undertook significant expenditures and work on the property including prospecting, stripping, mapping, channel sampling, geophysics and diamond drilling, Globex considers, due to the nuggety erratic distribution of free gold in the two principal vein systems, a bulk sample is warranted in order to establish an average gold grade. Individual channel samples assayed up to 3,310 grams per tonne Au over 1.0 m and 197.13 g/t Au over 1.2 m in drill holes (see Enforcer press releases dated Sept. 12, 2017, and Sept. 27, 2017) Also, five silica properties in Newfoundland on which Globex retained a royalty have been allowed to lapse by the purchaser.

Globex has significant cash and negotiable securities and freely tradeable shares of a number of companies. Globex has no debt and owns all its assets which number approximately 156 and are located in Quebec, Ontario, New Brunswick, Nova Scotia, Nevada, Tennessee, Washington and Saxony, Germany. On Aug. 16, 2018, Globex announced a Quebec flow-through share financing of up to $1.25-million in order to augment the company’s sizable cash position.

Lastly, the company continues to receive monthly royalty payments from Nyrstar NV from production at the Mid Tennessee zinc mine. Despite the zinc price having retrenched over the past several months, the July monthly royalty payment amounted to $138,616, and $1,243,340 since Jan. 1, 2018.

This press release was written by Jack Stoch, Geo, president and chief executive officer of Globex in his capacity as a qualified person under National Instrument 43-101.

We seek Safe Harbor.

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