Globex Options Nordeau Gold Zones to Chalice

ROUYN-NORANDA, QUEBEC--(Marketwired - Oct. 11, 2016) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that it has signed a Binding Option Term Sheet with Chalice Gold Mines (Quebec) Inc. a subsidiary of Chalice Gold Mines Limited (TSX:CXN)(ASX:CHN) ("Chalice") wherein Chalice may earn 100% interest in Globex's Nordeau East and West Gold Properties located 50 km east-southeast of Val-d'Or, Quebec.

Under the specifications of the Terms Sheet, to exercise its option, Chalice must over a four-year period, pay Globex $590,000 and undertake $2,500,000 in exploration expenditures as outlined below.

Year	Cash	Work
On signing	$120,000	--
1	$170,000	$350,000 completed
2	$140,000	+ $500,000 completed
3	$140,000	+ $500,000 completed
4	$20,000	+ $1,150,000 completed
Total	$590,000	$2,500,000

If Chalice earns 100% interest in the claims, Globex will maintain a 3% Gross Metal Royalty which is defined as 3% of all metals and minerals produced from the property.

The Nordeau property consists of 37 wholly owned Globex cell and cell fractions and 17 cells and cell fractions in which Globex holds a 60% interest.

On March 1^st, 2009, a former property optionee Plato Gold Corp. released a NI 43-101 resource estimate on the Nordeau West Gold Zone prepared by MRB Associates. Required Disclaimer: (The resources cited are historical, are not current mineral resources or reserves under National Instrument 43-101 regulations, are not being considered by Globex as current reserves or resources, have not been reviewed by a Globex geologist and should not be relied upon.). The full report is available on Globex's website under Media Center, Technical Reports.