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 50 9
PRESS RELEASE Globex Mining Enterprises Inc.
“At Home in North America”
41,243,755 shares issued and outstanding April 2, 2015
Mag Copper and Partners to Go Underground at Globex’s Magusi Deposit
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 that Mag Copper Limited which has an option on Globex’s Magusi-Fabie Bay polymetallic massive sulphide property, has announced today a non-binding letter of intent with AR2K Industries Ltd. and J.S Redpath Limited to form a joint venture for the purpose of conducting a bulk sample on the Magusi deposit and depending on the results of the bulk sample, bringing the Magusi deposit into commercial production. Shareholders are referred to today’s Mag Copper announcement for details.
Mag Copper optioned the Magusi and Fabie Bay property from Globex in April 2011 and the option is ongoing.
Globex is pleased that Mag Copper and partners intend to go forward with bulk sampling the Magusi deposit as a first step toward potential commercial production. Under the Globex/Mag Copper option agreement, Globex will receive additional option payments and a 3% Gross Metal Royalty. The agreement and extensions thereto also envision expenditures of at least $10,250,000 on the property during the term of the option of which approximately $8,000,000 remains and the production of a bankable feasibility study deliverable by April 28, 2017. (See Globex Press Releases dated April 6, 2011 and June 28, 2011 and Mag Copper’s Press Release dated May 8, 2014 for details)
Globex holds 8,639,800 shares of Mag Copper.
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 50 9
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