Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

March 30, 2011 16:11 ET

Globex Adopts Shareholder Rights Plan

ROUYN-NORANDA, QUEBEC--(Marketwire - March 30, 2011) - GLOBEX MINING ENTERPRISES INC.  (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) announces that its Board of Directors has adopted a shareholder rights plan (the "2011 Plan"). The 2011 Plan replaces Globex's previous shareholder rights plan which expired on March 19, 2011.

The purpose of the 2011 Plan is to provide shareholders and the Board of Directors with adequate time to consider and evaluate any unsolicited take-over bid made for Globex's common shares; provide the Board of Directors with adequate time to identify, develop and negotiate value-enhancing alternatives; encourage the fair and equal treatment of shareholders in connection with any take-over bid for Globex's common shares; and generally to prevent any person from acquiring ownership of or the right to vote more than 20% of Globex's common shares while the process undertaken by the Board of Directors is ongoing.

Pursuant to the 2011 Plan, rights were issued and attached to all outstanding common shares. A separate rights certificate will not be issued until the rights become exercisable. If a person acquires common shares in breach of the 2011 Plan, each right held by a shareholder, other than the acquiring person and its affiliates, associates and joint actors, will upon exercise and payment of the exercise price, entitle the holder of the right to purchase common shares from Globex with a total market value equal to twice the exercise price of the rights. The 2011 Plan provides for permitted bids, which must be for all of the outstanding common shares, other than common shares held by the acquiring person and its affiliates, associates and joint actors, and must remain open for acceptance by shareholders for at least 60 days from the date that the bid is made.

The 2011 Plan has been adopted by the Board of Directors subject to the approval of the Toronto Stock Exchange and is also subject to approval of Globex's shareholders at the annual meeting scheduled for May 2, 2011.

22,027,675 shares issued and outstanding

Forward Looking Statements

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. 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. In particular, no assurance can be given as to whether the 2011 Plan will be approved by the TSX or Globex's shareholders.

We Seek Safe Harbour.  Foreign Private Issuer 12g3 – 2(b)
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