Globex Acquires a Large Silver Exploration Licence in Saxony, Germany

ROUYN-NORANDA, QUÉBEC--(Marketwired - Sept. 12, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that we have acquired a 164 square km (63.3 square mile) land package measuring 36 km long by up to 5 km wide in the State of Saxony in southeast Germany. The project herein called the Bräunsdorf licence includes the western part of the famous Freiberg silver mining district which, over an approximate 850 year history, has produced some 5,700 tonnes of silver as well as zinc and lead. The area forming the Bräunsdorf licence has produced, over a 750 year period, at least 882 tonnes of silver (28.8 million ounces) with a current value of over US$ 500,000,000 (at US$ 17.50 per oz). Six major historic silver mine camps and five minor camps or prospects are included in the licence. Previous production was from surface to a maximum depth of 580 m with most production from shallow depths due to limits imposed by mining methods and water table levels over the extensive historical mining period. Currently, the permit area is weakly populated and most of the land is used for agricultural purposes. Ten percent of the area is forested. Alluvium and overburden cover about 50% of the southern part of the Bräunsdorf licence area and approximately 80% of the northern part. Weathering extends to depths of up to 30 m and most silver veins are not exposed on surface.

German mining laws are somewhat similar to those in Canada with clearly defined obligations such as undertaking proposed work programs in a workman like manner and meeting agreed to expenditure requirements. Environmental laws are also similar in that exploration must be preformed respecting designated protected areas and the rights of surface land owners.

The Bräunsdorf licence is centred on an over 35 km long by 1 to 5 km wide hydrothermal (epithermal) vein system. Numerous historic mining camps and small mines and prospects from Bräunsdorf in the southwest to Scharfenberg the northeast were exploited for silver over a 750 year period.

Globex decided to acquire the large western vein system of the Freiberg district as we feel that it offers the highest potential for the discovery of significant silver resources. The central area of the Freiberg district has been more extensively explored and mined, generally on narrow veins and to greater depth. Many vein systems on the Bräunsdorf licence have only been explored and/or mined to shallow depths thus offering a greater potential to find untapped resources, both in the area of the old mine workings as well as along strike in the extensive unexplored overburden covered areas.