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”
21,018,008 shares issued and outstanding January 12, 2011
Globex: Gold Recovery Technology Proven Successful Again
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 update shareholders on work undertaken for a Second Client who contracted with Eco Refractory Solutions Inc. (Eco), Globex’s 75% owned subsidiary which is commercializing a hydrometallurgical process for the recovery of gold from refractory ores.
Shareholders will recall that test work for a First Client was able to recover in the range of 95% of the gold from an arsenical refractory gold ore while transforming both the arsenic and sulphides into stable forms suitable for disposal in tailings. (See Press Release dated September 22, 2010)
Our Second Client has a refractory ore in which the gold is very finely distributed within the crystal lattice of pyrite. Eco’s initial test indicated extraction of 98.1% of the contained gold within a 24 hour period with low cyanide consumption.
Two additional follow‐up CIL (Carbon in Leach) tests were undertaken to confirm the high extraction rate. The confirmation tests indicated 97.3% and 97.4% gold extraction respectively.
For shareholders not familiar with the problems associated with refractory gold ores, the results achieved to‐date are extraordinary.
Eco is extremely pleased that the exclusive hydrometallurgical process is demonstrating the ability to recover more gold than other processes and in an environmentally friendly manner. The process does not require a fine grind, high consumption of cyanide nor expensive infrastructure such as autoclaves, all important advantages over other processes.
Eco Refractory Solutions Inc. hopes that with time, our technology will become the leading method for recovering gold from refractory ores and tailings.
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