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

Globex Mining Enterprises Inc.

August 08, 2011 10:53 ET

Globex Drills 5.23% Cu and 13.12% Zn Over 4.5 Metres at Tonnancour

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Aug. 8, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to provide assay data from a series of drill holes completed on our 100% owned Tonnancour property located approximately 15 km south of Lebel-sur-Quevillon, Quebec. A series of 22 holes have been completed to date, 16 holes were drilled to test the Tom Lake showing and six holes tested various other targets. Twenty holes have been logged to date, two remain to be logged and five additional targets remain to be tested.

The first hole of the drill program testing the northeast-southwest trending Tom Lake showing area returned 5.23% Cu, 13.12% Zn, 41.0 g/t Ag and 0.718 g/t Au in a typical, Abitibi style, zoned 4.5 metre wide massive sulphide intersection (true width 90-95% intersection width).

A series of subsequent holes were drilled in order to test the sulphide zone laterally to the NE and SW with the following results.

Hole # From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Ag
(g/t)
Au
(g/t)
GT11-01 22.30 26.85 4.55 5.23 13.12 41.00 0.718
including 0.55 4.60 13.06 34.50 0.56
and 1.45 9.45 8.55 68.90 1.15
GT11-02-38 m NE of hole #1 29.50 32.10 2.60 3.07 1.17 20.80 0.26
including 0.25 15.90 4.29 22.93 0.15
GT11-03-62m NE of hole #1 31.50 33.00 1.50 2.20
GT11-04-100m NE of hole #1 34.50 41.20 6.70 1.90 1.10 13.50 0.32
including 0.70 6.90 6.24 35.00 0.34
GT11-05-145m NE of hole #1 50.70 62.50 11.80 0.20 0.38
including 1.50 0.45 0.59
GT11-06-300m NE of hole #1 Up to 4,550 ppm Zn
GT11-07-430m NE of hole #1 Up to 1,100 Cu and 7,200 ppm Zn
GT11-13-75m SW of hole #1 No mineralization
GT11-14-45m SW of hole #1 No significant values

A second tier of holes was drilled beneath holes GT11-01 to GT11-05, several of which intersected sulphide mineralization. Assays are pending.

The drill has been moved from the Tom Lake showing area and is presently drilling a series of isolated electromagnetic anomalies identified in an airborne survey undertaken for Globex.

We are pleased with the drill results to date, especially the massive sulphide intersection encountered in drill hole number GT11-01 which intersected mineralization unlike any previously reported in the area and indicated that the geological environment may be appropriate for the emplacement of typical Abitibi style massive sulphide copper-zinc mineralization. We hope the core logging and assays from the second tier of holes will allow us to define a plunge for the zone enabling us to plan additional drilling.

Laboratory and Assay Methods

Globex's NQ drill core sampling including the quality assurance/quality control program is performed internally by Globex personnel under the immediate supervision of Globex's project geologist. Cut half core samples prepared at Globex's core sampling facility in Rouyn-Noranda, are tagged and sealed in plastic bags and are delivered directly by Globex personnel to Expert Laboratories Inc, located at 127 Boulevard Industriel, Rouyn-Noranda. The laboratory conducts all aspects of the sample preparation including drying and crushing to a minus 100 mesh screen size and the processing of a 300 gram sub sample for pulverization to a nominal minus 200 mesh size with the remaining crushed reject material being retained for storage. For gold assaying, a 29.16 gram sub-sample of the pulp (1 assay-ton) is taken, fused following the standard procedures used in a fire assay method. The gold content of all samples is determined using atomic Absorption Spectroscopy. Samples containing greater than 1gpt gold are subjected to a re-assay whereby the gold content is determined using a gravimetric fire assay method. For base metal assaying (copper, zinc including silver) a 0.5g sample is initially treated by aqua regia digestion with nitric and hydrochloric acid and subsequently analyzed by a spectrometer of atomic absorption finish. The limit of detection is 0.01% for all metals except for silver which is 3 ppm.

Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and reference accredited low/high grade standards at 20 sample intervals in Globex's sample stream.This is in addition to the routine blanks, duplicates (gold, silver, copper and zinc) and accredited standards insertion by Expert Laboratories during the course of the assaying process.

22,035,675 shares issued and outstanding

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 10 3

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