Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

March 27, 2006 02:00 ET

Globex Vends Suffield Mine Property

ROUYN-NORANDA, QUEBEC--(CCNMatthews - March 27, 2006) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(Frankfurt:G1M)(U.S. Pink Sheets: GLBXF) is pleased to announce the signing of a Binding Letter of Agreement with SILVER CAPITAL AGi.G., of Germany regarding Globex's Suffield property in Ascot township near Sherbrooke, Quebec.

SILVER CAPITAL AGi.G., a private company, has agreed to purchase the Suffield property for 65,000 Euros payable in two installments, 15,000 Euros payable immediately and 50,000 Euros due by June 1, 2006. In addition, SILVER CAPITAL AG will issue 400,000 common shares to Globex at a deemed value of 1.25 Euros per share. SILVER CAPITAL AG plans to go public on the German market by late 2006.

Upon production of any metals from the property, Globex will receive a 3% Net Metal Royalty.

The Suffield property includes the former Suffield Mine, a zinc, copper, lead, silver deposit which has a historical non 43-101 conformable resource of 540,000 tonnes grading 7% Zn, 0.9 % Cu, 0.5% Pb, 91 g/t Ag and 0.27 g/t Au (source Noranda Inc., 1989).

Several other sulphide zones are known on the property including the former small producer called Howard Mines and the Silver Star, North Howard and #4 Shaft areas. Surface sampling of the Silver Star showing has returned values of up to 12.5% copper, 408.1 g/t silver and 46.3 g/t gold in select samples.

In addition, drilling immediately north of the former Suffield Mine intersected significant gold values including but not limited to the following:

Hole # Gold Core
Grade Length
55-5 9.2 g/t 5.18 m
55-19 5.5 g/t 1.83 m
3-357 17.8 g/t 1.67 m
3-370 6.2 g/t 1.52 m
6.5 g/t 1.52 m

SILVER CAPITAL AG is a unique investment vehicle focused on all aspects of direct and indirect investments in the silver market. This means the company can invest shareholder funds in any silver related listed and/or unlisted company in the world. In addition, SILVER CAPITAL AG intends to buy physical silver, will buy and sell future contracts, warrants and options on silver and last but not least will invest a larger part of its silver investment portfolio in silver related projects world wide. A first pre-IPO private placement will be offered to investors in the coming weeks mainly in Germany and North America for a total amount of 1 Million Euros.

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

Globex Mining Enterprises Inc.
"At Home in North America"

15,295,240 shares issued and outstanding

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