Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

January 10, 2005 09:00 ET

GLOBEX MINING ENTERPRISES INC.: Drilling Resumes At Wood-Pandora Property


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GLOBEX MINING ENTERPRISES INC.

TSX SYMBOL: GMX

JANUARY 10, 2005 - 09:00 ET

GLOBEX MINING ENTERPRISES INC.: Drilling Resumes At
Wood-Pandora Property

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Jan. 10, 2005) - GLOBEX MINING
ENTERPRISES INC. (TSX:GMX) wishes to inform shareholders that drilling
resumed at the Wood-Pandora Globex-Queenston Mining Inc. (QMI-TSX) joint
venture property on Sunday January 9th. This deep drill hole targeting
the same horizon as the developing Lapa gold discovery to the east is
presently at 1,098 metres (3,602 feet) linear and a vertical depth of
1,049 metres (3,442 feet). It is expected that the target horizon
consisting of multiple gold targets will be intersected within the next
200 to 300 metres of drilling. If this deep drill hole is successful in
locating significant gold mineralization, it will be used as a master
hole from which additional wedges can be drilled at higher levels. The
nearby Lapa deposit (3km to the east), held by Agnico Eagle Mines Ltd.,
has a reported 1.2 million ounces of gold and is currently the subject
of an ongoing US$30 million development program.

Globex Mining Enterprises Inc. holds a diversified portfolio of mineral
properties, including numerous gold prospects, over 20 of which are
advanced exploration projects, a number of base metal properties
including drill defined sulphide bodies, two diamond projects, one
molybdenum project, one magnesium-talc project and one uranium-gold
project. Management is currently in discussions with parties interested
in optioning various properties. The terms of such ventures and the
results of ongoing work programs will be announced as the information
becomes available.

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