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. CUSIP Number 379900 10 3
PRESS RELEASE Globex Mining Enterprises Inc.
“At Home in North America”
19,240,074 shares issued and outstanding February 24, 2010
Globex Royalty Property Update – Rocmec 1 Gold Mine
Rouyn‐Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF – OTCQX International) is pleased to transmit to shareholders information released today by Rocmec Mining Inc. (RMI‐V) as regards the Rocmec I (Russian Kid) gold mine located in Dasserat Township, Quebec where Globex retains a significant Gross Metal Royalty (GMR).
In today’s press release, the following information was provided in a property overview:
The best drill intersections in the indicated structures are:
Front West ‐ 67.87 g/t Au over 1.44 metres McDowell ‐ 74.65 g/t Au over 2.34 metres Talus ‐ 37.02 g/t Au over 1.22 metres Shaft ‐ 18.15 g/t Au over 1.53 metres Boucher ‐ 20.06 g/t Au over 1.45 metres Boucher 2 ‐ 27.91 g/t Au over 1.77 metres
Rocmec stated in their press release:
“We are very pleased with the results to‐date as they confirm structural continuity and various grade intersections. Upon reception of the new (emphasis added) NI 43‐101 compliant resource calculation report and the scoping study, the next step will be to analyze several development scenarios that are currently on the table, such as; driving a new exploration decline from surface, exploration drift from existing underground openings, etc…”
Globex retains a 5% GMR on the first 25,000 ounces of gold produced from the property and a 3% GMR on all subsequent production. We are pleased to see that Rocmec is advancing the project and is preparing to make significant development decisions. Shareholders are reminded that Rocmec has already installed a mill underground at Rocmec 1 and is perfecting their thermal fragmentation mining method which was developed to efficiently and economically mine narrow high grade gold veins such as exist at the Rocmec 1 gold mine.
Please see the Rocmec press release of today’s date for details.
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.
We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b) CUSIP Number 379900 10 3
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO Tel.: 819.797.5242 Globex Mining Enterprises Inc. Fax: 819.797.1470 86, 14th Street [email protected] Rouyn‐Noranda, Quebec Canada J9X 2J1 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 Companies expectations and projections. A more detailed discussion of the risks is available in the “Annual Information Form” filed by the Company on SEDAR at www.sedar.com