Production Starts on Globex’s Gold Royalty Property
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
55,265,336 shares issued and outstanding
May 30, 2023
Production Starts on Globex’s Gold Royalty Property
Rouyn‐Noranda, Quebec, 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 inform
shareholders that IAMGOLD Corporation (“IAMGOLD”) have started open pit mining and processing gold ore
from the Fayolle Property located in Clericy township, Quebec, on which Globex retains a two percent (2%)
Net Smelter Royalty (NSR).
Per information contained in the NI 43‐101 Technical Report and Mineral Resource Estimate of the Fayolle
Gold Project published by Monarch Gold in 2019, the Fayolle depo s i t h a s a M e a s u r e d a n d I n d i c a t e d
Resource of 706,400 tonnes grading 4.89 g/t Au based upon a gold price of $1,300 per ounce.
IAMGOLD obtained a mining lease in March 2023 and immediately st a r t e d m i n i n g a c t i v i t y . O r e i s b e i n g
treated at the Westwood mill. Current 2023 production guidance is 10‐15,000 ounces.
Globex is pleased that IAMGOLD has initiated mining on the prop erty which Globex believes has significant
additional exploration potential. In addition to the 2% NSR on the Fayolle property, Globex has a 2% NSR on
the adjoining Destorbelle Gold Property to the west and owns 100 percent the Victoria Gold property to the
southeast and east both of which have gold mineralization in drill holes and/or in surface exposures.
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
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 a nd 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.