Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

August 13, 2007 11:22 ET

Globex: Central Cadillac-Wood-Pandora Drilling

ROUYN-NORANDA, QUEBEC--(Marketwire - Aug. 13, 2007) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (Frankfurt, Stuttgart, Berlin, Munich, Xetra:G1M) (OTCQX:GLBXF) wishes to update shareholders on drilling undertaken over the last several months on the Wood-Pandora and Central Cadillac properties.

To date, eleven drill holes have been completed, seven on the Central Cadillac property and three and one hole extension on the Wood property, specifically in the area of Ironwood Gold Zone.

The holes on the Central Cadillac property were drilled to target geophysical anomalies, structures outlined in recent surveys and deeply below the Central Cadillac Mine stratigraphy. Approximately one-half of the Central Cadillac drill holes have been logged and assayed to date and no new gold zones have been discovered although several areas of intense alteration and low grade gold values were intersected deserving follow-up drilling.

On the Wood property, two deep holes were undertaken in order to test for a deep extension of the host geological formation of the Ironwood Gold Zone. These holes failed to intersect the host iron formation. This may be due to folding in which case the holes passed beneath the folds axis or faulting in which case the iron formation becomes displaced with depth. In addition, one hole was extended for structural purposes and one short hole was drilled to extend the gold zone and intersected a core length of 2.13 m (1.10 m true width) in hole W07-48, grading 7.63 g/t Au.

Globex and Queenston have decided to commission a NI 43-101 report on the Ironwood Gold Zone. The NI 43-101 report will facilitate a better understanding of the structural complexity at depth and allow for proper planning of an additional phase of drilling.

This press release was prepared by Jack Stoch, P. Geo. 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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