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

Globex Mining Enterprises Inc.

August 09, 2011 09:15 ET

Globex Announces 2011 Half Year Results

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Aug. 9, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) wishes to inform shareholders that yesterday, the Company released financial results for the second quarter ended June 30, 2011. These financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS).

The management discussion and analysis and condensed interim consolidated financial statements for the three month and six month periods ended June 30, 2011 may be viewed at www.sedar.com.

Highlights are as follows:

The Company reported net income of $692,918 for the three months and $486,141 for the six months ended June 30, 2011.

During the three month period ended June 30, 2011, the Company generated net option income of $2,405,157 (2010 - $300,000) as well as metal royalty income of $156,917 (2010 - $33,600).

In the six month period ended June 30, 2011, net option income totalled $2,504,918 compared to $374,000 in the same six month period in 2010 along with metal royalty income of $362,850 (2010 - $33,600). The increase in the net option income reflects sales and mining option agreements negotiated during the current year while the significant increase in metal royalty income represents the ramp up in zinc production (Q1 - 6,000 tonnes of zinc; Q2 - 8,000 tonnes of zinc) at Nyrstar NV's Middle Tennessee mine.

Exploration expenditures for the second quarter of 2011 totalled $785,649 (2010 - $528,132) and for the six months, totalled $1,144,383 (2010 - $838,825) which includes a combination of eligible flow-through and other expenditures.

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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 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

22,035,675 shares issued and outstanding

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