Globex Mining Enterprises Inc.
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Globex Mining Enterprises Inc.

November 12, 2015 09:46 ET

Globex: High Grade Gold Found on Another Vein Structure at Montalembert Property

ROUYN-NORANDA, QUEBEC--(Marketwired - Nov. 12, 2015) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that a recent program of grab sampling on the 100% owned Montalembert property in Quebec has returned high grade gold assays on the Number 2 vein for which Globex previously had no historical assay data.

Assays of 84.04 gpt Au (2.70 oz/t Au), 64.48 gpt Au (2.07 oz/t Au), 36.26 gpt Au (1.17 oz/t Au) and 17.26 gpt Au (0.55 oz/t Au) as well as other anomalous values have been received to date. This expands the area of known gold mineralization on the property as previous historic data only provided gold assays on the Galena Vein (See September 9, 2015 Press Release).

Globex has cut a 46 km grid on the property, performed a detailed magnetometer survey and a geological survey. The areas of the Galena and Number 2 veins were stripped as were two areas across the veins. Due to freezing weather conditions, the stripped areas were not power washed by high pressure water preventing channel sampling or mapping of the vein structures. Instead, grab samples were taken wherever rock was exposed. Next spring, Globex intends to power wash the stripped areas and undertake large scale sampling as is appropriate when dealing with free gold.

All samples were delivered to Expert Laboratories Inc., located at 127 Boulevard Industriel, Rouyn- Noranda, Quebec. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed to 90% passing a -10 mesh screen. A 300-gram subsample was taken for pulverization to a nominal 90% passing -200 mesh with the remaining crushed rejects being retained. A 29.166-gram sub-sample of this pulp (1 assay-ton) was taken and was fused following the standard procedures used in a fire assay method. The gold content of all samples was determined using Atomic Absorption Spectroscopy (Method Code: Au FA-GEO, lower detection limit 5 ppb). Any samples found to contain greater than 1 gpt Au were subjected to a re-assay, whereby the gold content was determined using a gravimetric fire assay method.

Grab samples are selective by nature and are unlikely to be representative of average grades.

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.

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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

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