Kiboko Begins 12,450 Meter Drilling Program on Globex Royalty Property, The Canadian Business Journal

ROUYN-NORANDA, Quebec, September 20, 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 announce to our shareholders that Kiboko Gold Inc. (KIB-TSXV) has commenced drilling with two rigs on the Fontana portion of the Haricana Project in DuVerny Township, Quebec (NS 32C12). Globex maintains a 2% Net Smelter royalty in the Fontana area.

Kiboko’s press release states:

“The Phase 1 exploration program recommended in the Harikana Technical Report (as defined herein) consists of 12,450 meters (“m”) of drilling in the Fontana area of ​​the project identified in Figure 2. It consists of 3,945 m of oriented HQ diamond drilling (18 holes) and 8,505 m of 5.5 inch reverse circulation (“RC”) drilling (64 holes). The Phase 1 exploration program is fully funded and is expected to be completed in the first quarter of 2023. “

“Kiboko, in a press release, described its ‘Exploration Targets’ based on a detailed analysis of the past 79,565 m of historical drilling, and the focus of past drilling and the gold mineralization distribution to facilitate an understanding of the distribution of gold mineralization. provided a map. Click here for Kiboko’s press release.

(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 in SEDAR at www.sedar.com.

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