“At Home in North America” 55,265,336 shares issued and outstanding
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
55,265,336 shares issued and outstanding
May 24, 2023
Globex’s Cameron Lake Gold Property Directly Adjoins
Upgraded Flordin Gold Resource
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 update
shareholders on our 100% owned Cameron Lake Gold Property in Desjardins, Franquet & Grevet townships,
Quebec (NTS 32F07) located 30 kilometres north of Lebel-sur-Quevillon.
The Cameron Lake Gold Property consists of 30 cells totaling 1,280 hectares which straddle 6.5 kilometres of
the Cameron Fault corridor, a gold localizing structure that is host to a number of gold deposits including the
neighboring Flordin Gold Deposit.
On May 18, 2023, Abcourt Mines Inc. announced a first Mineral Resource Estimate (MRE) for the Flordin Gold
Project based upon 73,400 metres of drilling of which 34,900 metres were drilled between 2010 and 20 20.
Using a $1,650.00/oz. gold price, a Measured and Indicated Resource of 1,758,000 tonnes at an average
grade of 2.38 g/t Au and an Inferred Resour ce of 570,000 tonnes at an average grade of 3.23 g/t Au was
calculated by InnovExplo of Val-d’Or, Quebec by Independent and Qualified Persons as defined by NI 43-101
for the MRE , Olivier Vadnais -Leblanc, P.Geo., Carl Pelletier, P.Geo., Eric Lecomte, P. Eng ., and Simon
Boudreau, P.Eng..
The Flordin deposit directly adjoins Globex’s Cameron Lake G old Property to the west (See attached two
maps). Historical drilling on Globex’s property returned numerous intersections of significant gold values over
a 700-metre strike length and to a tested vertical depth of up to 300 metres. The “ Principal Zone” which is
the closest of the Cameron gold zones to the Abcourt/Globex boundary has been tested by 70 holes. Drill
holes intersected numerous parallel gold horizons such as the following:
- 5.55 g/t Au over 1.15 m
- 17.83 g/t Au over 1.05 m
- 9.40 g/t Au over 0.77 m
- 9.05 g/t Au over 0.86 m
- 7.44 g/t Au over 0.97 m
- 4.94 g/t Au over 1.14 m
- 21.84 g/t Au over 1.50 m
- 13.61 g/t Au over 0.40 m
- 8.23 g/t Au over 1.30 m
- 8.13 g/t Au over 1.00 m
- 7.41 g/t Au over 1.10 m
- 16.12 g/t Au over 0.68 m
- 7.72 g/t Au over 1.44 m
(Source : Sigeom Files)
Surface grab samples returned values such as 6.57 g/t Au, 2.86 g/t Au, 2.35 g/t Au.
2
In addition to the Principal Gold Zone, gold wa s intersected in drill holes along the fault corridor and in
several unrelated geological environments.
The establishing of a 1,758,000 tonne Measured and Indicated Resource and a 575,000 tonne Inferred
Resource directly adjoining Globex’s 100% owned Camero n Gold Property , elevates the potential and
highlights the need to undertake more modern and focussed exploration on the Cameron claims.
Cameron Fault Corridor Area Geology Map (Figure 1 of 2)
3
Cameron Property – Mineral Occurrences (Figure 2of 2)
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, 14 th 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.