Globex

Exploration Update, Continuance as Federal Corporation

ROUYN-NORANDA, QUEBEC--(Marketwired - Nov. 20, 2014) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF).

As shareholders have no doubt gathered, 2014 has been a difficult and disappointing year so far. Despite excellent efforts by Globex's staff, the negativity and malaise in the markets have had an overwhelmingly negative effect on our share price, our joint venture and option partners and our business in general. Despite this, we continue to move forward adding value to the company.

The Mid Tennessee mine operated by Nyrstar continues to generate royalty income for Globex despite several problems at the mill which limited production for extended periods during the year. These problems seem to have been cleared up and production is ramping up. To date, since January, we have received approximately $835,413.00 (CDN) in royalty payments based on zinc prices varying from $0.91 -$0.92 per pound in the first six months of the year and $1.03-$1.05 per pound for the following five months. It is our expectation that baring additional mill problems, production will increase and zinc prices will continue to rise as projected by many mining analysts.

On the exploration front in the past months, we undertook a number of exploration programs. The first on our Eagle Gold property consisted of two drill holes one of which intersected 5.39 g/t Au over 4.8m. This intersection extends a known zone and suggests additional drilling is required.

We then drilled two holes on our Poirier Mine property. One hole intersected massive sulphides much closer to surface than anticipated suggesting more complex folding than originally thought. Hole P-14-002 intersected 4.95% Zn and 8.95 g/t Au over 6.47m including 7.48% Zn and 12.61 g/t Ag over 3.23m.

At our Lyndhurst property, we re-evaluated deep stratigraphic drilling at the "Moses" VMS zone and the under-explored eastern half of the property. We also undertook rehabilitation work related to previous exploration activity by Globex. More work is contemplated at a later date.

On the Nordeau East and Nordeau West properties, we reviewed all the previous drilling by Plato Gold Corporation and sampled 1,500 metres of previously unassayed core. The best single new assay was 8.13 g/t Au over 1 metre. Two mineralized zones in hole PG-06-21 returned 1.50 g/t Au over 11.8m and 1.13 g/t Au over 9.0m. More work is warranted.