Increased Resources at Globex Labyrinth Loyalty Property for The Canadian Business Journal

ROUYN-NORANDA, Quebec, September 27, 2022 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Dusseldorf, Quotrix Düsseldorf Stock ExchangeAnge and GLBXF – OTCQX International in the US) We are pleased to inform our shareholders. labyrinth resources announced today increased to 500,000 ounces of gold As Estimated resource Labyrinth Gold Project (previously called Russian Kid Mine). The project is located in Dasserrat Township, west of Rouyne Noranda, Quebec. Globex retains a 5% gross metals royalty on the first 25,000 ounces of Au produced and a 3% gross metals royalty on all subsequent production.

The resource is reported to be “open in all directions, supporting substantial mineral resource growth potential through both near-mine and regional drilling.” The inferred Mineral Resource is reported as “3 mt at 5.0 g/t Au versus 500,000 oz Au at a cutoff of 3 g/t Au”.

Shareholders can access the long Labyrinth press release by clicking here.

Globex is pleased with the progress announced by Labyrinth and looks forward to continued success in expanding its resource base.

(Note: Production royalties are paid only at the time of production.)

This press release was written by Jack Stoch, Geo., President and CEO of Globex as a Qualified Person (QP) under NI 43-101.

Forward-Looking Statements: Except for historical information, this news release may contain certain “forward-looking statements.” These statements involve known and unknown risks, uncertainties and other risks that could cause actual results, activity levels and performance to differ materially from the expectations or projections of Globex Mining Enterprises Inc. (“Globex”). may include the factors of No assurance can be given that any of the events anticipated by forward-looking information will or will occur or, if they do occur, how Globex will benefit therefrom. For more information on risks, please refer to the Annual Information Form filed by Globex on SEDAR at www.sedar.com.

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