Globex Mining Enterprises Inc.
TSX : GMX
FRANKFURT : G1M
OTCQX : GLBXF

Globex Mining Enterprises Inc.

February 16, 2011 10:34 ET

Glen Eagle Announces NI 43-101 Resource on Globex Royalty Property

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Feb. 16, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that Glen Eagle Resources Inc. (TSX VENTURE:GER) has announced a NI 43-101 compliant mineral resource estimate for the Authier Lithium property (See Glen Eagle press release dated February 15, 2011).

Using a cut-off grade of 0.8% Li2O, the resource as announced by Glen Eagle is an approximate increase of 40% above the previous historical resource estimate.

Resource Category Tonnes Grade Li2O
Indicated 4,167,000 1.04%
Inferred 2,290,000 1.00%

Globex maintains a 1% Gross Metal Royalty on approximately one half of the lithium deposit and a 2% Gross Metal Royalty on twelve contiguous claims on which lithium mineralization is known to occur.

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

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 expectations and projections of Globex Mining Enterprises Inc. ("Globex").  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom.  A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com

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