Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

May 24, 2006 02:00 ET

Globex Options Nordeau Gold Deposits to Plato Gold

ROUYN-NORANDA, QUEBEC--(CCNMatthews - May 24, 2006) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRANKFURT:G1M) (PINK SHEETS:GLBXF) is pleased to announce that subject to expansion into a full Option to Purchase Agreement, Globex has signed a binding Letter of Intent with Plato Gold Corp (PGC- TSXV) whereby Plato may acquire 100% interest in Globex's Nordeau East and West gold deposits and adjoining claims in Vauquelin township, Quebec.

In order to earn their interest in the project, Plato must make the following payments to Globex:

- 1,000,000 Plato shares upon signing;
- $100,000 by July 31, 2006 (firm);
- $100,000 by December 31, 2006;
- $300,000 by December 31, 2007.

In addition, the following yearly work expenditures are required by the dates indicated:

- December 31, 2006: $1,000,000;
- December 31, 2007: $2,000,000;
- December 31, 2008: $3,000,000;
- December 31, 2009: A positive bankable feasibility study in order
to complete the earn-in.

Globex will retain a 2% Net Metal Royalty on all mineral production as well as a 10% Net Profit Interest after recoup by Plato of $5,000,000 in direct capital costs.

The Nordeau East and West properties include a historic non 43-101 compliant mineral resource of 689,259 tons grading 0.173 oz/ton Au as reported by Vauquelin Mines Ltd. in 1990. The mineralization consists of free gold in quartz veins within basic volcanics, in sediments and in association with magnetite iron formations.

The optioning of these properties to Plato is a continuation of Globex's philosophy to increase shareholder value by unlocking the potential of Globex's assets with no share dilution for shareholders while at the same time realizing immediate, and potentially, long term revenue for the Company.

Globex is pleased to be entering this new relationship with Plato Gold and look forward to their efforts to mutually benefit both our shareholders.

Forward Looking Statements - We Seek Safe Harbour

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.

Foreign Private Issuer 12g3 - 2(b)

CUSIP Number 379900 10 3

15,920,640 shares issued and outstanding

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