New Resource Calculation on Globex's Nordeau West Gold Deposit

ROUYN-NORANDA, QUÉBEC--(Marketwired - March 13, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to report the results of a recent mineral resource estimate study by Chalice Gold Mines Limited (TSX:CXN)(ASX:CHN) announced in a March 7th, 2017 press release about Globex's Nordeau West gold deposit located in Vauquelin Township, Quebec.

The Nordeau West gold deposit is defined by 121 surface drill holes (41,278 m) which were drilled between 1981 and 2008 of which 96 historical drill holes (27,744 m) were drilled in early campaign and 25 more recent drill holes (13,352 m) between 2006 and 2008.

The mineral resource estimate as reported by Chalice is summarised below:

Nordeau West Mineral Resource Estimates

JORC Category	Cut-Off (g/t Au)	Tonnes (t)	Grade (g/t Au)		Contained Gold (oz Au)
Indicated	2.75	225,000	4.17		30,200
Inferred	2.75	1,112,000	4.09		146,300

Mineral resources are not mineral reserves and do not have demonstrated economic viability. These mineral resource estimates include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorised as mineral reserves. There is also no certainty that these Inferred mineral resources will be converted to the Measured and Indicated categories through further drilling, or into mineral reserves, once economic considerations are applied. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.