Globex Mining Enterprises Inc. “At Home in North America” 48,902,706 shares issued and outstanding
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
48,902,706 shares issued and outstanding
March 13, 2017
New Resource Calculation on Globex’s Nordeau West Gold Deposit
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) is pleased to report the results of a recent mineral resource estimate study by Chalice
Gold Mines Limited (TSX‐CXN; ASX‐CHN) announced in a March 7th, 2017 press release about Globex’s
Nordeau West gold deposit located in Vauquelin Township, Quebec.
The Nordeau West gold deposit is defined by 121 surface drill holes (41,278 m) which were drilled between
1981 and 2008 of which 96 historical drill holes (27,744 m) were drilled in early campaign and 25 more
recent drill holes (13,352 m) between 2006 and 2008.
The mineral resource estimate as reported by Chalice is summarised below:
Nordeau West Mineral Resource Estimates
JORC Category Cut‐Off
(g/t Au)
Tonnes
(t)
Grade
(g/t Au)
Contained Gold
(oz Au)
Indicated 2.75 225,000 4.17 30,200
Inferred 2.75 1,112,000 4.09 146,300
Mineral resources are not mineral reserves and do not have demonstrated economic viability. These mineral
resource estimates include inferred mineral resources that are considered too speculative geologically to
have economic considerations applied to them that would enable them to be categorised as mineral
reserves. There is also no certainty that these Inferred mineral resources will be converted to the Measured
and Indicated categories through further drilling, or into mineral reserves, once economic considerations are
applied. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may
not appear to add precisely.
The independent mineral resource estimates for the Nordeau West deposit was prepared by MRB &
Associates, (“MRB”) principal John Langton, P.Geo., Qualified Person under NI 43‐101, of Val d’Or, Quebec
and is reported and classified in accordance with National Instrument NI 43‐101. Globex has not undertaken
work to verify the results as announced by Chalice and are reporting what Chalice are announcing today in
order to keep Globex shareholders informed.
The mineral resources in this news release were estimated using the Canadian Institute of Mining,
Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
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
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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 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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Chalice is currently compiling a 3D interpreted model of the Nordeau West gold deposit with the aim of
evaluating potential extensions to the deposit and identifying other favourable structures or contacts that
have not been previously tested. A 2000 metre drill program has commenced along strike to
identify possible extensions of the Nordeau West gold deposit.
Chalice has filed on SEDAR (www.sedar.com), the National Instrument 43‐101 "Technical Report and
Mineral Resource Estimate for the East Cadillac Gold Project, Val‐d’Or, Quebec" dated February 12, 2017,
which includes the updated mineral resource for the Nordeau West gold deposit. The report can also be
viewed at www.chalicegold.com.
Chalice have an option to acquire 100% interest in the Nordeau property in exchange for $590,000 in option
payments ($120,000 received to date), undertaking $2,500,000 in exploration over 4 years and reserving for
Globex a 3% Gross Metal Royalty. (See press release dated October 11, 2016 for details)