Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

November 25, 2008 11:17 ET

Globex: Drilling Resumes at Magnesite-Talc Property and Future AIF's to Be Upgraded

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Nov. 25, 2008) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(PINK SHEETS:GLBXF) would like to inform shareholders that a drill campaign has started on the Deloro magnesite-talc property near Timmins, Ontario. Cross sectional drill holes will be completed in order to further define the distribution of magnesite and talc within the mineral deposit and provide structural data, additional material for mineralogical, analytical and hydrometallurgical testing as well as a resource calculation, all part of work aimed at proving up a viable economic world class project.

The mineral deposit, as described in the Ministry of Northern Development and Mines - Ontario Geological Survey Mineral Deposit Inventory List, as well as a report by Kretshmar and Kretshmar (1986), Ontario Geological Survey, Study 28, is made up of two lenses 1800 metres in total length, up to 300 metres in width and has been drilled to a depth of 120 metres.

In addition, Globex has been advised that the cautionary language in Globex's Annual Information Form, as regards our 13 principal properties (Wood Deposit, Magusi River & Fabie Bay Deposits, Middle Tennessee Mines Projects, Duquesne West Deposit, Lyndhurst Property, Mooseland Gold Deposits, Nordeau East & West Deposits and Bateman Gold Zone, Ramp Deposit, Timmins Magnesite-Talc Deposit, Russian Kid Gold Deposit and the Bateman Bay Deposit) and on the Donalda Gold Mine acquisition (Press Release dated November 20, 2007), where conformable NI 43-101 reports were not cited, were deficient in that the full cautionary language was not used. Although the sources of geological and historical resource figures were cited with their respective dates and indicated as historical non NI 43-101 resources, we have been informed that in each and every case the entire cautionary language must be included as below.

Cautionary language, in addition to source, author and date, must include a statement that;

1) A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or reserves.

2) The issuer is not treating the historical estimate as current mineral resources or mineral reserves.

3) The historical estimate should not be relied upon. In addition, the source and date of the historical estimate must be given.

For example: in our press release dated November 20, 2007, in which we announced the acquisition of the former Donalda Gold Mine property, we referred to the source of "technical data" as "a geological paper entitled The Donalda Gold Deposit, Rouyn-Noranda, Quebec, by G. Riverin, D. Bernard and B. Boily, 1990, and presented by the Exploration Division of Minnova Inc." In addition, we stated that Globex had "not independently verified the information in the geological paper but Globex's Vice-President is a co-author of the paper".

In this case, while we provided the source and date of the information which proceeded the adoption of NI 43-101 regulations in 2001 and disclosed that we had not independently reviewed the data, although one of the co-authors at the time was now (2007) a Globex Executive and a Q.P., we did not specifically indicate the cautionary information that a qualified person (Q.P.) had not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and that Globex was not treating the historical estimate as current mineral resources or reserves, and that the historical estimate should not be relied upon.

In future AIF's and press releases, Globex will include the above indicated cautionary language.

This press release was written by Jack Stoch, P. Geo. President and CEO of Globex in his capacity as a Qualified Person (Q.P.).

We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 10 3

Forward Looking Statements: Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections.

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