Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

November 20, 2007 01:00 ET

Globex Acquires Donalda Gold Deposit

Increases Globex's Gold Resource Base by + 700,000 Tonnes

ROUYN-NORANDA, QUEBEC--(Marketwire - Nov. 20, 2007) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT, STUTTGART, BERLIN, MUNICH:G1M) (OTCQX:GLBXF) is pleased to announce that it has acquired 100% interest in the Donalda gold deposit in Rouyn Township, Quebec.

The Donalda gold deposit is located next to the large Horne and Quemont massive suphide deposits, both of which averaged 5.5 grams/tonne gold. Previous work outlined historical non NI 43-101 resources of over 1.5 million tonnes grading 6.9 grams/tonne gold of which approximately 790,000 tonnes have been mined and approximately 710,000 tonnes remain unexploited.

The gold deposit consists of two shallowly dipping quartz veins. The number 1 vein was mined over a strike length of 825 metres and a dip length of 400 metres. Drilling in 1986 located an extension to the number 1 vein measuring 425 metres by 300 metres which was not mined. The number 2 vein is located 300 metres below the number 1 vein and is more steeply dipping. A small amount of production, 29,156 tonnes, came from the number 2 vein. Both vein structures are open down dip so the opportunity exists to increase the resource. A 620 metre shaft provides access to the two known gold bearing vein structures. In addition, below the 700 metre depth, very little exploration has been undertaken.

Much of the technical data presented above comes from a geological paper entitiled "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., the owner of the property at that time.

Because of the very recent acquisition of the asset, Globex has not independently verified the information in the geological paper but Globex's Vice-President is a co-author of the paper.

This press release was written by Jack Stoch in his capacity as a Qualified Person (Q.P.)

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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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