Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

March 03, 2010 09:20 ET

Globex Reports on Russian Kid (Rocmec 1) Gold Resource

ROUYN-NORANDA, QUEBEC--(Marketwire - March 3, 2010) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(PINK SHEETS:GLBXF) is pleased to inform shareholders that Rocmec Mining Inc. owner of the Russian Kid (Rocmec 1) gold mine on which Globex holds a royalty, yesterday announced a new NI 43-101 resource calculation prepared by SGS Geostat. While the report is NI 43-101 conformable and newly published, Globex may not under existing rules report the results unless we indicate that they are historical and should not be relied upon. We apologize to our shareholders but such is the existing regulation.

In a press release issued on March 2nd, 2010, Rocmec reported the following.

Classification Tonnage Au (g/t) Oz Contained Average Thickness (m) Volume (m3) Surface (m2)
Measured 139,500 5.44 24,400 0.85 51,700 61,100
Indicated 337,900 5.66 61,500 0.78 125,100 161,100
Measured + indicated 477,400 5.59 85,900 0.80 176,800 222,200
Inferred 1,764,500 9.81 556,400 0.90 658,400 731,100

Rocmec reports that the inferred gold resource in the Boucher structures jumped from 208,000 oz to 376,000 oz an increase of approximately 80% and that the grades were 13.77 g/t Au and 15.86 g/t for the Boucher and Boucher 2 structures respectively.

The global resource indicated above was prepared using a cut-off grade of 3 g/t. The reported measured/indicated gold resource has jumped from 75,900 oz Au to 85,900 oz Au while the inferred resource has gone from 318,500 oz Au to 556,400 oz Au.

Please see Rocmec's press release dated March 2, 2010 for further details.

Globex retains a 5% Gross Metal Royalty on the first 25,000 ounces of gold and silver produced from the mine and a 3% Gross Metal Royalty on all additional production.

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

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

19,240,074 shares issued and outstanding

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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 Companies expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at

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