Globex Acquires Two More Highly Prospective Gold Properties - Seite 2

Gold mineralization at the Eldrich Mine follows a north-northeast trend and dips 35^o to 45^o SE. Mineralization is associated with pyrite in four major rock types: meta-trondhjemite, meta-tonalite, hybrid rocks and meta-diorite, all spatially distributed as a series of sub-horizontal tabular sills that form a genetically related group.

Porcupine West Property

The Porcupine West property is located in Hebecourt Township, Quebec west of the town of Duparquet and consists of 89 claims totalling 4,711.27 hectares covering over 14 kilometres of the gold localizing Porcupine-Destor Break.

Compiled data indicates that 355 drill holes totalling 52,339 m have been undertaken on the property including 153 RC Till holes. The average hole length is 270 m and the longest hole 1,122 m. A goodly number of geophysical surveys have been undertaken on the property including AEM and AMAG, IP, Ground EM and Mag as well as BeepMat surveys.

Gold mineralization has been encountered at many locations along the +14km property strike length. Two areas were more intensely drilled including the Nemrod Zone over a strike length of 1.6 km and width of 280 m and the Structure 71 Zone consisting of numerous lenses, the Main Lenses being 200 m long and 2.5 m wide and tested to 120 m depth showing thicknesses of between 1.5 m and 5.6 m. Other lenses #2, #3 and #4 report gold values between 2 g/t Au and 6.7 g/t Au over varying widths of up to 3m. Globex considers that there is much potential untested on the property especially at depth and in structures both parallel and cross cutting to the gold localizing Porcupine-Destor Break.

Mineralization consists principally of pyrite and minor arsenopyrite and chalcopyrite in bleach zones (K₂O depletion and Na₂O enrichment) crosscutting basalt. A historical resource of 195,300 t grading 5.2 g/t Au is reported, 156,630t grading 5.1 g/t Au being within the Main Lens.

Several other areas on the property, such as the Hebecourt Lake and St-François occurrences, also report gold values. These areas have seen less drilling than the two previously mentioned areas.

Acquiring +14 km of the gold localizing Porcupine-Destor Break positioned between the Beattie and Donchester Gold Mines to the east and Harker-Halloway Gold Mines to the west and the Eldrich Gold Mine northwest of Rouyn-Noranda, adds significant, prospective land positions to the gold asset base of Globex.

Note: All technical and historical information disclosed in this press release is from data provided to Globex by IAMGOLD Corporation and Quebec government Sigeom files. Globex has not yet undertaken an in-depth study of all of the available technical data.