Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

March 21, 2007 01:00 ET

Important Resource Increase at Globex's Russian Kid Mine

ROUYN-NORANDA, QUEBEC--(CCNMatthews - March 21, 2007) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT, STUTTGART, BERLIN, MUNICH, XETRA:G1M)(PINK SHEETS:GLBXF) is pleased to inform shareholders that Rocmec Mining Inc. has announced a new National Instrument 43-101 compliant resource estimate for the Russian Kid Gold Deposit in Dasserat township completed by Systeme Geostat International of Blainville, Quebec under the supervision of Mr. Claude Duplessis P. Eng.

Their report indicates the following undiluted resource estimates:


Cut-off Tonnes Grade Ounces Tonnes Grade Ounces
(g/t) (g/t gold) (g/t gold)
3.0 91 600 6.72 19 800 274 200 6.37 56 100
0.1 107 800 6.06 21 000 414 000 4.92 65 550

Tonnes Grade Ounces
(g/t gold)
955 200 10.37 318 450
2 250 000 6.32 456 900

(i) Calculations are in metric units. Results were rounded to reflect their true estimated nature as recommended in National Instrument 43-101. Mineral resources are not mineral reserves, since mineral reserves have a demonstrable economic viability. Systeme Geostat International has verified and is not aware of any environmental, permitting, legal, claim title, taxation, socio-political, marketing or other constraints that could affect the resource estimate.

The NI 43-101 resource figure is, at a cut off of 3.0 g/t, similar to the previous historical non 43-101 resource calculation by Asselin, Benoit, Boucher, Ducharme, Lapointe, Inc. (ABBDL - TECSULT) completed in 1984, but showing 200,000 more tonnes. At a cut off of 0.1 g/t, the calculation shows a total resource of 2,771,800 tonnes, a tonnage figure twice the historical tonnage calculation.

This good news augers well for Globex which maintains a 5% Gross Metal Royalty on the first 25,000 ounces of gold produced from the property and 3% Gross Metal Royalty on all other gold production.

For further details please see the Rocmec press release of March 20, 2007.

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

Forward Looking Statements

Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections.

Contact Information