Globex Mining Enterprises Inc.
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PINK SHEETS : GLBXF
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Globex Mining Enterprises Inc.

February 22, 2008 01:00 ET

Globex Mining Enterprises Inc.: Update - Getty Royalty Property Nova Scotia

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Feb. 22, 2008) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT, STUTTGART, BERLIN, MUNICH, XETRA:G1M)(OTCQX:GLBXF) is pleased to provide shareholders with an update regarding drilling at Globex's Getty Zinc-Lead Royalty Property held by Acadian Mining Corporation in Nova Scotia.

The following is a direct copy of part of the information released on February 21, 2008 by Acadian Mining Corporation.

"Acadian Mining Corporation (TSX:ADA) ("Acadian" or "Corporation") is pleased to announce assay results for 25 additional drill holes, bringing the total released to date to 54 of the 100 hole diamond drilling program on its Getty zinc-lead deposit. Results to date support potential for a bulk tonnage - open pit deposit 1,700 metres from the mill at Scotia Mine. Highlights include drill hole S1037 which intersected 9.50 metres of 5.41% zinc plus lead, including 3.45 metres of 11.23% zinc plus lead, hole S1031 which intersected 7.25 metres of 5.13 zinc plus lead, hole S1043 which intersected 3.90 metres of 10.48% zinc plus lead and hole S1048 which intersected 12 m of 4.2 zinc plus lead. The shape of the zinc-lead mineralized carbonate bank structure at Getty is not as yet fully defined and, as such, true widths cannot be calculated with complete confidence. However, true widths are estimated to range between 80% and 100% of the intersection lengths reported below in Table 1.



Table 1 - Selected Intercepts - Holes S1030 - S1054
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Hole From (m) To (m) Interval (m) Grade % Zn Grade % Pb %Zn+%Pb
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S1030 25.30 33.00 7.70 2.24 0.03 2.27
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S1031 88.75 96.00 7.25 3.53 1.60 5.13
including 88.75 93.00 4.25 5.52 2.24 7.76
Including 88.75 91.00 2.25 8.21 2.65 10.86
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S1032 20.80 27.00 6.20 2.03 0.96 2.99
and 34.00 40.00 6.00 2.16 0.28 2.44
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S1033 26.00 59.00 33.00 1.36 1.16 2.52
including 27.00 36.00 9.00 1.98 1.61 3.59
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S1034 114.40 119.00 4.60 2.18 7.09 9.27
including 115.00 118.00 3.00 2.60 8.40 11.00
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S1035 101.00 103.05 2.05 6.24 2.65 8.89
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S1037 94.00 103.50 9.50 2.02 3.39 5.41
Including 96.00 103.50 7.50 2.34 4.28 6.62
Including 96.00 99.45 3.45 4.41 6.82 11.23
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S1042 53.00 56.65 3.65 2.09 0.95 3.04
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S1043 62.50 66.40 3.90 6.21 4.27 10.48
Including 62.50 64.95 2.45 8.21 6.07 14.28
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S1044 39.00 49.00 10.00 1.29 0.84 2.13
Including 45.00 47.00 2.00 2.10 1.48 3.58
and 61.00 64.00 3.00 0.70 1.51 2.21
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S1045 71.00 73.00 2.00 2.31 0.38 2.69
And 75.00 77.00 2.00 1.66 0.04 1.70
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S1046 56.00 63.00 7.00 3.37 1.75 5.12
including 56.00 59.00 3.00 7.60 2.81 10.41
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S1047 67.00 70.00 3.00 0.27 2.46 2.73
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S1048 43.00 55.00 12.00 0.90 3.30 4.20
including 43.00 45.00 2.00 0.23 6.75 6.98
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and 72.00 79.35 7.35 0.47 1.14 1.61
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S1049 49.50 54.45 4.95 4.63 1.16 5.78
including 50.00 53.00 3.00 6.30 0.62 6.92
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S1050 74.00 84.75 10.75 2.23 2.59 4.82
including 79.00 81.00 2.00 3.75 6.20 9.95
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S1051 34.00 40.00 6.00 1.11 0.01 1.12
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S1052 60.00 63.95 3.95 0.79 1.62 2.41
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S1053 52.60 67.00 14.40 1.69 1.00 2.69
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S1054 95.00 96.00 1.00 2.32 0.86 3.18
and 100.00 105.00 5.00 1.01 1.23 2.24
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Holes S1036, S1038, S1039, S1040, S1041 intersected low-grade lead-zinc mineralization near the periphery of the deposit.

The Getty deposit occurs within a west extension of the carbonate bank complex that also hosts the adjacent Scotia Mine deposit, located 1,700 metres to the east. Acadian's current diamond drilling program is designed to support a new resource estimate for the Getty deposit that is anticipated to include definition of measured and indicated resources. The deposit currently hosts inferred resources as described below in Table 2 (See News Release No. 34-07, December 12, 2007 for details). Drilling on the Getty property to date has focused on the deposit area previously outlined, however future drilling will include several drill holes to test for possible extensions of the deposit to the west, and also test an interpreted basement high paleo-topographic feature to the northwest, which has the potential to be the site of another carbonate reef complex.



Table 2 - NI-43-101 Inferred Resource Estimate for Getty Zinc-Lead Deposit
- Effective December 11, 2007 (News Release No. 34-07, December 12, 2007)

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(i)Zn Eq% Threshold Tonnes (Rounded) Pb% Zn% (i)Zn Eq%
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2.00 % 4,160,000 1.40% 1.81% 3.21%
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2.50 % 2,860,000 1.60% 2.06% 3.66%
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3.00 % 1,970,000 1.82% 2.26% 4.08%
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(i) Note: Zn equivalent (Zn Eq%)=(Zn% + Pb%)


The Getty deposit is subject to a 1% gross metal royalty to Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M). Acadian has an option to purchase one-half percent for $300,000 at its option at any time, and has a first right of refusal on the remaining one-half percent.

Management's Opinion

Will Felderhof, President and CEO, stated "These drill results along with those previously released on December 20, 2007, are in line with our expectations and we are confident the balance of the drill program will put sufficient definition on the deposit to support a pit design to supply feed to the adjacent Scotia Mine milling facility."

Globex is pleased with the progress of work on the property and looks forward to the new resource estimate that will result from the ongoing work on the property.



We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 10 3


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