Globex Acquires Francoeur and Arntfield Gold Mine Properties - Seite 2

In a separate agreement, the remaining $157,043 bonding obligation will be assumed by a third party in exchange for certain rights including a one percent (1%) NSR which shall come into effect once Richmont has received $1,300,000 in NSR payments from production. Globex retains the right to purchase the third party 1% NSR at any time for $500,000. The third party has agreed to assume one-half of all property carrying costs such as municipal and provincial taxes, assessment work requirements, hydro charges and all other costs related to the properties.

Richmont will also transfer to Globex its comprehensive collection of property data and a large drill core library for the properties.

The properties cover an area of 1,866 hectares (4,611 acres) and approximately a 7 km (4.35 miles) strike length of the gold localizing Francoeur Wasa Shear Zone.

The principal orebody on the Francoeur Mine Property is the Number 3 orebody of which the previously referenced "West Zone" is a part. It is estimated that 2,187,200 tonnes grading 6.17 gpt Au were mined producing 414,413 ounces of gold (Source: Richmont Mines). The adjacent Arntfield Mine is reported to have produced 480,804 tonnes grading 3.98 gpt Au and 0.93 gpt Ag between 1935 and 1942 (Source Quebec government files).

Globex considers that there remains excellent exploration potential at depth at the Francoeur and Arntfield Mines as well as along the extensions of the gold localizing Francoeur Wasa Shear Zone.

Note: Mineral resources are not mineral reserves and do not have demonstrated economic viability.

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.

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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

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Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470 (FAX)
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www.globexmining.com