August 16, 2016 09:30 ET
ROUYN-NORANDA, QUÉBEC--(Marketwired - Aug. 16, 2016) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that RJK Explorations Ltd. (TSX VENTURE:RJX.A) has delivered to Globex the first $250,000 option payment as required in the Maude Lake Gold Property (formerly called the Ramp Gold Property) Option Agreement as outlined in Globex's press release dated May 31, 2016.
Under the Option Agreement, RJK may earn 100% interest in Globex's Maude Lake Gold Property northeast of Matheson, Ontario by making annual payments of $250,000 and reserving a 2.5% Gross Metal Royalty for Globex, 1% of which may be purchased for $2 million.
The Maude Lake Gold Property has a historical gold resource, road access and was previously partially stripped and accessed underground by a ramp. (See May 31, 2016 press release for details.)
Globex looks forward to RJK's exploration efforts on the property which is within easy trucking distance to operating gold mills. Skilled labour and equipment are locally available.
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.
46,502,706 shares issued and outstanding
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining Enterprises Inc.819.797.5242819.797.1470 (FAX)firstname.lastname@example.org
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