Globex Announces Second Closing of Private Placement

ROUYN-NORANDA, QUÉBEC--(Marketwire - July 4, 2012) -

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GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to announce that it has held a second closing of its previously-announced private placement by issuing an aggregate of 348,599 "flow-through" shares at a price of $1.30 per share, for gross proceeds to Globex of approximately $453,000. Globex issued the "flow-through" shares to "accredited investors" in Québec and Ontario and will use the proceeds from the issuance for exploration on certain of its properties in those two provinces. To date, Globex has raised a total of approximately $1.75 million in the private placement.

Industrial Alliance Securities Inc. is lead agent for the private placement, which is in a maximum amount of $3.15 million. Additional closings of the private placement may be held, subject to approval of the Toronto Stock Exchange.

The shares issued today in the private placement are subject to a four-month "hold period" ending on November 4, 2012 under applicable Canadian securities legislation. As a result of the second closing, Globex has 24,098,378 common shares issued and outstanding.

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 Companies expectations and projections. A more detailed discussion of the risks is available in the current Company's "Annual Information Form" available on SEDAR at www.sedar.com.

24,098,378 shares issued and outstanding