Globex Mining Enterprises Inc.
TSX : GMX
PINK SHEETS : GLBXF
FRANKFURT : G1M

Globex Mining Enterprises Inc.

November 20, 2006 13:33 ET

Globex Mining Enterprises Inc.: Milling Contract for Russian Kid Gold Ore

ROUYN-NORANDA, CANADA--(CCNMatthews - Nov. 20, 2006) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX), (Frankfurt, Stuttgart, Berlin, Munich, Xetra:G1M)(PINK SHEETS:GLBXF)is pleased to announce that it has been informed by Rocmec Mining Inc. (TSX VENTURE:RMI) that a milling contract has been signed with Richmont Mines to treat ore from the Russian Kid gold mine at Richmont's Camflo gold mill. The treatment of gold ore derived from Globex's Russian Kid deposit should provide Globex with its first long term revenue stream based upon Globex's royalty on ore produced from the Russian Kid gold deposit.

Globex Mining Enterprises Inc. holds a diversified portfolio of over 75 mineral properties both in Canada and the U.S., including numerous gold prospects, more than 20 of which are significant mineralized zones or advanced exploration projects, a number of base metal properties including drill defined sulphide copper, zinc, gold and silver deposits; three diamond projects; one molybdenum deposit; one magnesium-talc deposit; one large uranium-gold project; one uranium-fluorite zone and two uranium showings. Globex explores for its own account but also derives revenue and advances exploration or development through the optioning of its properties while retaining royalties on possible future production. In addition to those already under option or development, management is currently in discussion with several parties interested in optioning various Globex properties. The terms of such ventures and the results of ongoing work programs will be announced as the information becomes available.

This press release was written by Jack Stoch in his capacity as a Qualified Person (Q.P.).

We Seek Safe Harbour.

Foreign Private Issuer 12g3 - 2(b)

CUSIP Number 379900 10 3

16,407,050 shares issued and outstanding

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