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

Globex Mining Enterprises Inc.

May 15, 2008 10:49 ET

Globex Reports Record Quarter on Royalties and Other Revenue

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - May 15, 2008) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT, STUTTGART, BERLIN, MUNICH, XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that it has received its first royalty payment from First Metals Inc. (TSX:FMA).

The payment of $302,697 relates to Globex's 2% Metal Royalty on production from the Fabie Bay copper deposit in Quebec. The partial payment does not include the March production royalty of approximately $100,000, receivable as of May 15th, 2008.

Globex also has published its First Quarter 2008 Financial Results for the period ended March 31st, 2008. Net earnings before tax for the first quarter is $4,324,721, equal to $0.24 per share, compared to a loss before tax of $44,981 for the same period in the prior year. The increase is due in large part to shares and cash received from First Metals Inc. (TSX:FMA) as part of the purchase price of the Fabie Bay and Magusi River deposits.

Globex is extremely pleased with the progress we have made to date and look forward to the continuation of Metal Royalties which we expect to be generated by First Metals from the Fabie Bay Mine and next year from the Magusi River deposit.

In addition, we expect royalty revenue to commence shortly from the Tennessee zinc mines being developed by Strategic Resource Acquisition Corporation (SRZ-TSX) and the Russian Kid Gold Mine (Rocmec 1) being developed by Rocmec Mining Inc. who have announced a projected mill start-up for mid October 2008.



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


17,828,574 shares issued and outstanding

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