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”
21,028,008 shares issued and outstanding February 14, 2011
Globex’s Getty Royalty Interest to Receive a Fresh Approach
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 inform shareholders that Selwyn Resources Ltd. has announced that they have signed a Letter of Intent to purchase all shares of ScoZinc Limited which owns “the mine‐mill complex and extensive mineral claims package” known as the Gays River (Scotia Mine) in Nova Scotia.
Of importance to Globex, are the following statements by Selwyn, “Selwyn plans to commence refurbishment of the mill and other activities toward resumption of production in the first quarter of 2012” and “Exploration drilling is planned to confirm the mineral inventory of the Scotia Mine and provide data regarding potentially open pittable mineral potential in the Northeast and Getty deposits.”
On September 12, 2008, Acadian Mining Corporation reported in a press release a NI 43‐101 Indicated and Measured Resource at a 2% Pb + Zn cut off grade of 4,010,000 tonnes grading 3.43% combined Pb and Zn and 860,000 tonnes grading 3.48% Pb and Zn in the Inferred Category in the Getty deposit (Mercator Geological Services Ltd.).
Globex retains a 1% Gross Metal Royalty (GMR) on all mineral production from the Getty Zinc/Lead deposit which will now be the subject to an extensive exploration program to upgrade the classification of the mineral inventory in order to better define an open pittable deposit to provide feed for the mill.
Globex is pleased with this development and looks forward to the potential start of a royalty stream from this mine.
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 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