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

Globex Mining Enterprises Inc.

November 04, 2013 09:21 ET

Globex Drilling Returns Significant Gold Values

ROUYN-NORANDA, QUEBEC--(Marketwired - Nov. 4, 2013) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders of initial assays from a ten hole drill program on its wholly owned Tiblemont-Tavernier property in Quebec.

Six holes were targeted at a gold bearing shear zone. Complete assays have been received from three of the drill holes and partial assays from several others. A summary of current gold intersections is given below.

Hole # From (m) To (m) Width (m) Au (g/t) Au oz/T
TIB-13-03 26 27 1 9.7 0.28
75.5 76.5 1 4.29 0.26
TIB-13-11 133 134 1 23.6 0.68
TIB-13-12 209.5 210.5 1 2.46 0.07
227.4 228.9 1.5 19.6 0.57
247 248 1 3.91 0.11
TIB-13-13 251.5 260.3 8.8 4.78 0.14
Including 4.3 6.15 0.18

Hole TIB-13-13 was drilled from the same set up as TIB-13-12 (50°) but at a steeper angle of 65° and intersected 4.78 g/t Au over 8.8m (28.9 ft) including 6.15 g/t Au over 4.3m (14.1 ft) at approximately 50 metres below the intersections in hole TIB-13-12. The mineralization in TIB-13-13 is the widest gold core length to date.

The gold bearing zones occur at vertical depths of between 20m and 225m and are found within quartz vein systems associated with the shear. Gold intersections presently extend laterally for at least 350m along the shear. A nearby shallow historical hole returned 7.5 g/t Au over 1.5m and 5.9 g/t Au over 4m.

Two drill holes in another area of the property approximately 6km to the southeast have intersected disseminated pyrite and chalcopyrite in widths of up to 10 metres in an area where a historical surface showing returned up to 21 g/t Au and 0.7% Cu. We are awaiting assays.

Three drill holes undertaken to test airborne electromagnetic anomalies in another geological environment did not intersect economic values although a nearby historical intersection of 26 g/t Au over 0.6m was reported.

Assaying was done at ALS Minerals in Val D'Or, Quebec, using the standard fire assay method for gold. Core sampling and quality assurance/quality control procedures and assay methods are available on the Globex Mining Enterprises' website at www.globexmining.com under Media Center, Technical Information.

This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 50 9

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

Contact Information