Globex Acquires Thirteen Kilometres of Cells On Strike of Azimut Gold Discovery

ROUYN-NORANDA, Quebec, Feb. 12, 2020 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has acquired 61 cells totaling 3,219.6 hectares, covering 13 km along regional strike to the southwest of Azimut Exploration’s Patwon Prospect (Elmer Gold Property) gold discovery.  On January 14, 2020, Azimut Exploration Inc. reported seven drill holes grading 3.15 g/t Au over 102.0 m, 2.84 g/t Au over 108.2 m, 1.93 g/t Au over 82.0 m, 1.68 g/t Au over 97.0 m, 1.54 g/t Au over 54.1 m, 1.15 g/t Au over 129.0 m, 0.62 g/t Au over 101.3 m and two channel samples grading 9.52 g/t Au over 7.1 m and 9.56 g/t Au over 5.36 m (not true widths).  Samples were assayed by ALS Minerals of Val-d’Or, Quebec.  Reference to Quebec Sigeom data suggests no exploration has been recorded upon the large cell block staked by Globex.

Furthermore, Globex acquired directly to the north of the large cell block, by staking, three cells (158.2 ha) covering a portion of a priority exploration target, also within the Patwon regional strike, which is described in a press release dated January 15, 2020 as “project best target, a possible gold-silver-copper VMS (volcanic massive sulphide) mineralized system” based upon soil anomalies coupled with centimeter to metre sericitic and silicified floats with 2-10% sulphides and quartz stringers with up to 6.72 g/t Au and untested geophysical anomalies (See Opinaca Project Map below).

In addition to this acquisition which places Globex solidly within the regional gold discovery play, Globex recently acquired two other projects in the James Bay Area.  Nineteen (19) cells were staked covering a series of surface showings of high grade gold and copper in NTS 33G12 henceforth called the Tyrone Project within Azimut’s large Kakamas cell block where Azimut is following up upon strong copper/arsenic/antimony Lake-bottom sediment anomalies (See Tyrone Project Map below).

Surface sampling by several companies have returned assays such as the following from grab and channel sampling:

Showing	Assays (assays > 3 g/t Au highlighted)	Sample Type
Chiskamish Est	12.15 g/t Au, 3.9 g/t Ag 3.8 g/t Au over 2 m incl. 6.9 g/t Au over 1 m	Grab