“At Home in North America” 55,695,336 shares issued and outstanding
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
55,695,336 shares issued and outstanding
October 19, 2022
New Resource Disclosed on Globex’s Nordeau West
Gold Royalty Claims
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 provide
with an update on a portion of Globex’s Nordeau gold royalty property located approximately 45 km east of
Val-d’Or, Quebec, in Vauquelin township (NTS 32C03).
Cartier Resources Inc. (ECR-TSXV) on October 13, 2022 published the results of a NI 43-101 Technical Report
titled “NI 43-101 Technical Report and Mineral Resource Estimates for the Chimo Mine and West Nordeau
gold deposit, Chimo Mine and East Cadillac Properties, Quebec, Canada”, dated October 12, 2022 by Vincent
Nadeau-Benoît, P.Geo., Alain Carrier, P.Geo., M.Sc. and Marc R. Beauvais, P.Eng. of InnovExplo Inc. of Val -
d’Or, Quebec (see October 13, 2022 press release ). This repo rt is available for consultation on Sedar or
Globex’s website by clicking here . In the report, reference is made to the West Nordeau gold deposit
resource which has been upgraded and is now incorporated into the Chimo Mine Gold System. The West
Nordeau gold deposit is one of several mineralized gold zones on the property formerly called by Globex
the Nordeau Project and now referred to by Cartier as the East Cadillac Property, consisting of 54 cells or
portions of cells totalling 1,500 hectares.
In the October 12th Cartier press release, the following Indicated and Inferred Resources are reported on the
West Nordeau claim block:
Gold Corridor
Cut-off Grade
(g/t Au)
Indicated Resources Inferred Resources
Metric
Tonnes (t)
Grade
(g/t Au)
Troy Ounces
(oz Au)
Metric Tonnes
(t)
Grade
(g/t Au)
Troy Ounces
(oz Au)
North Gold Corridor (2.0) - - - 151,000 3.50 17,000
Central Gold Corridor (1.5) 512,000 2.19 36,000 3,084,000 2.60 258,000
Total 512,000 2.19 36,000 3,235,000 2.64 275,000
This totals 311,000 troy ounces of gold more than doubling the previous 2009 NI 43 -101 resource
calculation reported by MRB & Associates for Plato Gold Corp.
2
“The estimate of the West Nordeau deposit was made from a database consisting, as of July 12, 2022, of 154
drill holes totaling 55,097 m drilled, 6,873 deviation measurements as well as 18,973 samples analyzed for
the gold and collected over a core length of 19,785 m representing 36% of the core length drilled. This
database contains 820 blank and standard samples, inserted for QA/QC by previous operators: Chalice Gold
Mines Limited and O3 Mining Inc. between March 11, 2017 and March 17, 2020. This database was validated
before starting the resource estimate. The estimate was carried out on 8 mineralized structures, intersected
by 4,982 m of drilling, having produced 802 different gold intersections.”
Additionally, in the press release it is stated that, among the parameters used in the NI 43-101 report, was
the following, “For the West Nordeau deposit: Globex Mining Enterprises Inc. royalty cost of CAD
$64.80/troy ounce;”. Using this Globex royalty cost, a quick calcul ation provides the following value for
Globex’s 3% GMR royalty on the currently defined West Nordeau gold deposit, 311,000 troy ounces X
$64.80 per troy ounce = $20,152,800 on the assumption that all the defined ounces are on the Globex
royalty claims.
Also, in the Cartier press release, the next drill target areas are defined on a composite long section by Cartier
hereunder, which indicates that drilling will be undertaken to explore the West Nordeau deposit to depth.
No additional information is provided on the rest of the large property subject to Globex’s GMR royalty which
covers approximately 8 kilometres of the gold localizing Cadillac Fault and associated splays.
(Note: Production royalties are only payable upon production.)
3
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 uncerta inties 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.