This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43‐101. CUSIP Number 379900 10 3
PRESS RELEASE Globex Mining Enterprises Inc.
“At Home in North America”
22,027,675 shares issued and outstanding April 11, 2011
Update on Getty Lead‐Zinc Deposit in Nova Scotia
Rouyn‐Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF – OTCQX International) is pleased to inform shareholders of the updated resource figures announced by Selwyn Resources Ltd. on the Getty Lead‐Zinc zone, part of the Scotia Mine property purchased by Selwyn from Acadian Mining Corporation. Globex retains a 1% Gross Metal Royalty (GMR) on the Getty deposit which is located 1,500 metres west of mill facilities. (see Globex press release dated February 14, 2011)
Selwyn, in a press release dated March 30, 2011, announced a NI 43‐101 compliant resource estimate using a variety of zinc equivalent cut‐off grades. Tonnages and grades varied from 5,720,000 tonnes grading
1.68% Zn and 1.23% Pb in the Measured and Indicated categories and 1,350,000 tonnes grading 1.52% Zn and 1.31% Pb in the Inferred category, both at a cut‐off of 1.50% zinc equivalent, to 2,160,000 tonnes grading 2.35% Zn and 2.00% Pb in the Measured and Indicated categories and 460,000 tonnes grading 2.21% Zn and 2.23% Pb in the Inferred category, both at a cut‐off of 3.00% Zn equivalent.
The resource calculation has an effective date of March 28, 2011 and was done by Michael Cullen and Chrystal Kennedy both P.Geos employed by Mercator Geological Services of Dartmouth, Nova Scotia. In a subsequent Selwyn press release dated April 6, 2011, Selwyn stated: “The recently completed Getty
deposit mineral inventory also indicates the potential for open pit mining in that area, so with additional drilling and engineering studies, the mineral resources may have the potential to expand the longevity of the Scotia Mine”.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43‐101.
We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b) CUSIP Number 379900 10 3
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO Tel.: 819.797.5242 Globex Mining Enterprises Inc. Fax: 819.797.1470 86, 14th Street [email protected] Rouyn‐Noranda, Quebec Canada J9X 2J1 www.globexmining.com
Forward Looking Statements
Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward‐looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com