GMX.T · 2020-02-12 12:00:00

Globex Acquires Thirteen Kilometres of Cells

Corporate Updates

PRESS RELEASE

Globex Mining Enterprises Inc.

“A Mineral Property Bank”

54,389,852 shares issued and outstanding

February 12, 2020

Globex Acquires Thirteen Kilometres of Cells

On Strike of Azimut Gold Discovery

Rouyn-Noranda, Québec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN

– Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX

International in the US) is pleased to inform shareholders that it has acquired 61 cells totaling 3,219.6 hectares,

covering 13 km along regional strike to the southwest of Azimut Exploration’s Patwon Prospect (Elmer Gold

Property) gold discovery. On January 14, 2020, Azimut Exploration Inc. reported seven drill holes grading 3.15

g/t Au over 102.0 m, 2.84 g/t Au over 108.2 m, 1.93 g/t Au over 82.0 m, 1.68 g /t Au over 97.0 m, 1.54 g/t Au

over 54.1 m, 1.15 g/t Au over 129.0 m, 0.62 g/t Au over 101.3 m and two channel samples grading 9.52 g/t Au

over 7.1 m and 9.56 g/ t Au over 5. 36 m (not true widths) . Samples were assayed by ALS Minerals of Val -d’Or,

Quebec. Reference to Quebec Sigeom data suggests no exploration has been recorded upon the large cell block

staked by Globex.

Furthermore, Globex acquired directly to the north of the large cell block, by staking, three cells (158.2 ha)

covering a portion of a priority exploration target, also within the Patwon regional strike, which is described

in a press release dated January 15, 2020 as “project best target, a possible gold -silver-copper VMS (volcanic

massive sulphide) mineralized system” based upon soil anomalies coupled with centimeter to metre sericitic

and silicified floats with 2 -10% sulphides and quartz stringe rs with up to 6.72 g/t Au and untested geophysical

anomalies (See Opinaca Project Map below).

In addition to this acquisition which places Globex solidly within the regional gold discovery play, Globex

recently acquired two other projects in the James Bay Area. Nineteen (19) cells were staked covering a series of

surface showings of high grade gold and copper in NTS 33G12 henceforth called the Tyrone Project within

Azimut’s l arge Kakamas cell block where Azimut is following up upon strong copper/arsenic/antimony Lake -

bottom sediment anomalies (See Tyrone Project Map below).

Surface sampling by several companies have returned assays such as the following from gra b and channel

sampling:

Showing Assays (assays > 3 g/t Au highlighted) Sample Type

Chiskamish Est 12.15 g/t Au, 3.9 g/t Ag

3.8 g/t Au over 2 m incl. 6.9 g/t Au over 1 m

Grab

Channel

Chiskamish Ouest 6.4 g/t Au

1.3 g/t Au over 0.5 m; 0.4 g/t Au over 1 m

1.8 g/t Au and 3.1% As

Grab

Channel

Grab

Lac Chiskamish 36% Fe over 212 m

38.8% Fe over 175 m

40.27% Fe (39.42% Fe2O3 and 16.34% FeO)

Chip

Zone Ouest-Hemlo 2.17 g/t Au; 1.43 g/t Au Grab

Sandwich 36 g/t Au, 71 g/t Ag

4.4 g/t Au over 1 m

Grab

Channel

Chiskamish extension-Est 13.1 g/t Au, 4.9 g/t Ag

1.5 g/t Au; 1.9 g/t Au over 1 m

2.5 g/t Au over 1 m

Grab

Channel

PC 7.32 g/t Au, 1.1 g/t Ag Grab

Baie Nord 3 10.2 g/t Au Grab

Brèche 167 0.70 g/t Au, 19 g/t Ag, 2.4% Cu,

0.59 g/t Au, 8.1 g/t Ag, 1.78% Cu, Grab

Mayappo-Sud 3.3 g/t Au

1.4 g/t Au over 3 m incl. 3.5 g/t Au over 1 m

Grab

Channel

Zone PH 13.8 g/t Au, 17.2 g/t Ag, 0.64% Cu Grab

Flocon Blanc-Perdrix 3.35 g/t Au, 36.4 g/t Ag and 2.18% Cu

7.65 g/t Au, 62 g/t Ag and 10.96% Cu

1.92 g/t Au, 38.1 g/t Ag and 6.59% Cu

Grab

Tyrone 1 12.2 g/t Au and 4.34% Cu

4.7 g/t Au, 49 g/t Ag, 7.4% Cu

14.1 g/t Au, 11 g/t Ag, 0.2% Cu

Grab

Tyrone 2 0.5 g/t Au, 18 g/t Ag, and 6.4% Cu

4.4 g/t Au, 108 g/t Ag and 1.2% Cu

DDH : 0.6 g/t Au, 8.3 g/t Ag and 1.34% Cu over 3 m

Grab

Diamond Drill Hole

Tyrone 3 0.6 g/t Au, 7.9 g/t Ag, 0.1% Cu Grab

Tyrone 4 2 g/t Au, 5.4 g/t Ag, 0.5% Cu and

DDH : 1.13 g/t Au over 1.5 m

Grab

Diamond Drill Hole

Tyrone 5 3.1 g/t Au, 17.5 g/t Ag and 0.95% Cu

4.3 g/t Au, 29 g/t Ag and 1.98% Cu

1.9 g/t Au, 16 g/t Ag and 0.9% Cu

1.4 g/t Au, 20 g/t Ag and 0.5% Cu

Grab

*Grab samples are selective by nature and are unlikely to be representative of average grades.

A number of follow -up drill holes failed to produce results similar to the surface sampling. Globex will compile

and analyze the historical data in order to determine what the next step in exploration should be.

The second project Globex staked is 4 cells covering the H1 and H2 kimberlite bodies 70 km south of the

Renard diamond mine in NTS 33A01 n orth of Chibougamau, Quebec. Previous limited drilling outlined a

number of kimberlite bodies on the property including one which returned a micro -diamond. Globex will have

the mineralogical data reviewed in order to evaluate the previous work in light of new approaches to diamond

exploration. At the same time, Globex will reassess further exploration on its Lake Savignac diamond project.

This press release was written by Jack Stoch, 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

LEI 529900XYUKGG3LF9PY95

For further information, contact:

Jack Stoch, P.Geo., Acc.Dir.

President & CEO

Globex Mining Enterprises Inc.

86, 14th Street

Rouyn-Noranda, Quebec Canada J9X 2J1

Tel.: 819.797.5242

Fax: 819.797.1470

[email protected]

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 resul ts, 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

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Azimut Gold Discovery

ELM19-001: 0.62 g/t Au over 101.3m

ELM19-002: 3.15 g/t Au over 102.0m

ELM19-003: 2.84 g/t Au over 108.2m

ELM19-004: 1.68 g/t Au over 97.0m

ELM19-005: 1.54 g/t Au over 54.1m

ELM19-006: 1.15 g/t Au over 129.0m

ELM19-007: 1.93 g/t Au over 82.0m

Kasapawatish Pluton

Wabamisk Fm

Komo Fm

Opinaca FaultKali Pluton

Kauputauch FmElmer Pluton

Auclair Fm

Kapiwak Pluton

Akakanipanuch Batholith

Pawachis Batholith

Duxbury Batholith

Kasapawatish Batholith

33D/08 33C/05

33D/01 33C/04

33C/06

33C/03

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Rivière Opinaca

Regional Geology Map

Checked by: J. Stoch, geo. Drawn by: M. Mougin

Projection: UTM Nad 83 Zone 18

NTS:

33C/04 - 33C/05 - 33D/01 - 33D/08 Date: 2020-02-12

Globex Mining Enterprises inc.

Merged map made up of data from maps published on Sigeom and by Dios Exploration 0 52,5

1:150000

Geology

Gabbro

Felsic Tuff

Mafic Volcanics

Intermediate Tuff

Rhyolite

Quartz-Feldspar Porphyry

Andesite

Tonalite

Quartz Porphyry

Tonalite-Granodiorite

Iron Formation

Dacite

Felsic Volcanics / Tuff

Sedimentary

Diabase

Intrusive

Volcanic

Felsic (Mafic)

Mafic (Felsic)

Legend

Globex Mining

Dios Exploration

Azimut Exploration

Mineral Occurence

!( Copper

!( Molybdenum

!( Zinc

Gold!(

Silver!(

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!.!.

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Tyrone 4

Grab sample: 2 g/t Au, 0.5% Cu and 5.4 g/t Ag

DDH: 1.13 g/t Au over 1.5m

Source: Sigeom

Tyrone 5

Grab samples:

3.1 g/t Au, 17.5 g/t Ag and 0.95% Cu

4.3 g/t Au, 29 g/t Ag and 1.98% Cu

1.9 g/t Au, 16 g/t Ag and 0.9% Cu

1.4 g/t Au, 20 g/t Ag and 0.5% Cu

Source: Sigeom

Mayappo-Sud

Grab and trench samples: 3.3 g/t Au; 0.5 g/t Au;

1.4 g/t Au over 3m incl. 3.5 g/t Au over 1m

Source: Sigeom

Zone PH

Grab sample: 13.8 g/t Au, 17.2 g/t Ag, 0.64% Cu

Source: Sigeom

Tyrone 2

Grab samples: 0,5 g/t Au, 18 g/t Ag, and 6.4% Cu

4.4 g/t Au, 108 g/t Ag and 1.2% Cu

DDH: 0.6 g/t Au, 8.3 g/t Ag and 1.34% Cu over 3m

Source: Sigeom

Flocon Blanc-Perdrix

Grab samples: 3.35 g/t Au, 36.4 g/t Ag and 2.18% Cu;

7.65 g/t Au, 62 g/t Ag and 10.96% Cu

1.92 g/t Au, 38.1 g/t Ag and 6.59% Cu

Source: Sigeom

Tyrone 1

Grab samples: 12.2 g/t Au and 4.34% Cu;

4.7 g/t Au, 49 g/t Ag, 7.4% Cu; 14.1 g/t Au, 11 g/t Ag, 0.2% Cu

Source: Sigeom

Grab samples: 7.32 g/t Au, 1.1 g/t Ag

Source: Sigeom

Tyrone 3

Grab samples: 7.9 g/t Ag, 0.6 g/t Au, 0.1% Cu

Source: Sigeom

Sandwich

Grab and trench samples: 36 g/t Au, 71 g/t Ag;

4.4 g/t Au over 1m

Source: Sigeom

Chiskamish extension-Est

Grab and trench samples: 13.1 g/t Au, 4.9 g/t Ag;

1.5 g/t Au; 1.9 g/t Au over 1m; 2.5 g/t Au over 1m

Source: Sigeom

Zone Ouest-Hemlo

Grab samples: 2.17 g/t Au; 1.43 g/t Au

Source: Sigeom

Lac Chiskamish

Chip samples: 36% Fe over 212m; 38.8% Fe over 175m

40.27% Fe (39,42% Fe2O3 and 16.34% FeO)

Source: Sigeom

Chiskamish Ouest

Grab and trench samples: 6.4 g/t Au;

1.3 g/t Au over 0.5m; 0.4 g/t Au over 1m;

1.8 g/t Au and 3.1% As

Source: Sigeom

Chiskamish Est

Grab and trench samples: 12.15 g/t Au, 3.9 g/t Ag

3.8 g/t Au over 2m incl. 6.9 g/t Au over 1m

Source: Sigeom

Brèche 167

Grab samples: 2.4% Cu, 19 g/t Ag, 0.71 g/t Au;

1.78% Cu, 8.1 g/t Ag, 0.59 g/t Au

Source: Sigeom

Regional fault

Tonalite biotite

Basalt

Quartzitic sandstone

Tonalite biotite

Baie Nord 3

Grab samples: 10.2 g/t Au

Source: Sigeom

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Tyrone

Regional Geology Map

Checked by: J. Stoch, geo. Drawn by: M. Mougin

Projection: UTM Nad 83 Zone 18

NTS: 33G/12 Date: 2020-02-11

Globex Mining Enterprises inc.

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