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”
22,526,241 shares issued and outstanding October 4, 2011
Globex Intersects Gold on Geological Target
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 provide shareholders with information regarding a recent drill hole completed on our 100% owned Beacon claim, east of Val D’Or, Quebec based upon recent geological interpretation.
Globex undertook a drill hole to intersect the Bourlamaque granodiorite batholith near its contact with volcanic units. The 426 metre drill hole intersected 5.19 g/t Au over 2.9 m including 8.68 g/t Au over 1.5 m in a broader gold zone grading 3.72 g/t Au over 4.4 m from 394.6 m to 399.0 m in the hole. The intersection of coarse disseminated pyrite is at a vertical depth of 260 metres. The mineralized contact area is untested in all directions for a strike distance of at least 450 metres. The same granodiorite contact area hosts the Wrightbar Gold Mine (a 100% owned Globex property) and the Beacon Gold Mines to the southwest and Richmont’s Beaufor Gold Mine and the Courvan Gold Mine to the north. As only one hole has been completed to date, the true width is unknown.
Globex intends to do additional drilling on this discovery.
The Beacon drilling program was planned and supervised by Globex’s Consulting Geologist and qualified person Richard Cote, ing. employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core was logged and split with half-core samples analyzed employing the appropriate gold fire assaying techniques by Expert Laboratory Inc. of Rouyn-Noranda, Quebec.
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