Globex Options a Ni-Cu-Co Project in Quebec to Burin Gold
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
55,240,336 shares issued and outstanding
June 5, 2023
Globex Options a Ni-Cu-Co Project in Quebec to Burin Gold
Rouyn-Noranda, Qu ebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange,
G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf
and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to announce
it signed a letter of intent agreement on June 2, 2023 (the “Agreement”) with Burin Gold Corp. (BURG-TSX-
V) to acquire a 100% interest in the Dalhousie Project (the “Property”), comprised of 31 claims located 53km
to the east of Matagami and 4km South of Ramsay Bay at Lac au Goéland, Quebec.
The Dalhousie Project is an ortho -magmatic Ni-Cu-Co prospect located within the mafic -ultramafic package
of the Bell River Complex. It is located on the north central margin of the Abitibi Oroge nic Belt in proximity
to the Matagami Mining Camp in Quebec, Canada.
Limited historical drilling, up until the late 1980’s, focused on poorly constrained geophysical anomalies, yet
successfully intercepted mineralization near conductive features. A proper ty-wide geophysical (TDEM)
survey, completed in 2007, identified multiple conductive features coincident with surface mineralization and
these targets remain untested. Historical chip channel samples collected above the untested EM conductors
graded up to 3.79% Cu, 0.90% Ni and 0.28% Co.
Fieldwork will commence this summer, including reprocessing of the TDEM data, aiming to better delineate
and model existin g conductive features. This work should quickly fast -track the project, so th at Burin can
drill-test the priority conductors later this year, in conjunction with downhole electromagnetic surveying
(DHEM) to identify any possible off-hole conductors.
Under the terms of the agreement, Burin shall pay $1,500,000 and issue 4,000,000 Bur in shares to Globex
and undertake $5,000,000 in exploration over a four -year period to earn 100% interest in the property.
The terms are as follows:
Cash Shares Exploration Expenditures
On Signing $100,000 1,000,000 -
First Anniversary $100,000 - $1,000,000 (within first 12-month period)
Second Anniversary $300,000 1,000,000 $1,000,000 (within second 12-month period)
Third Anniversary $500,000 1,000,000 $1,500,000 (within third 12-month period)
Fourth Anniversary $500,000 1,000,000 $1,500,000 (within forth 12-month period)
2
Globex shall retain a 3% Gross Metal Royalty ( GMR) on all payable metals subject to a 1% buyback for
$1,000,000 payable anytime.
This press release was prepared 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
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 activit y 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.