Laguerre/Knutson Drill Summary

ROUYN-NORANDA, Québec, Dec. 01, 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) has now received all the assays from our recent drilling on our Laguerre/Knutson gold project near Larder Lake, Ontario.

Seven hundred and fifty-nine metres (759 m) were drilled in three holes on the Knutson portion of the property where historical trenching returned 0.42 oz/t Au over an average width of 5.3 feet for a length of 160 feet on Vein # 1 and 0.25 oz/t Au over an average width of 5.9 feet for a length of 90 feet (see Globex press release dated September 17, 2020.

The three holes each intersected three zones of intense alteration, shearing and mineralization principally disseminated pyrite corresponding to the downward projection of the mineralized zones. Despite the obvious visual indicators in the core, the assays did not match those from surface sampling and are listed below:

HOLE #	ZONE NAME	GOLD (g/t Au)	TRUE WIDTH (m)
LK-20-01	Knutson #2	0.66 g/t	2.83 m
		Incl.: 1.28 g/t	1.16 m
LK-20-01	Knutson East	1.10 g/t	5.66 m
		Incl.: 6.96 g/t	0.46 m
LK-20-2	Knutson #2	0.56 g/t	8.25 m
		Incl.: 1.53 g/t	1.54 m
LK-20-3	Knutson #2	0.64 g/t	11.05 m
		Incl.: 1.74 g/t	1.87 m

While the three drill holes did not return assays comparable to those reported on surface and encountered in grab sampling by Globex, the fact that the zones do project to depth as displayed by the intense alteration, shearing and sulphide mineralization is a positive outcome which suggests more work is warranted.