Globex Mining Enterprises Inc.
TSX : GMX
FRANKFURT : G1M
OTCQX : GLBXF

Globex Mining Enterprises Inc.

February 16, 2011 13:00 ET

More Gold and Silver on the Globex-Laurion Bell Mountain Project

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Feb. 16, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that in a press release dated February 15, 2011, Laurion Mineral Exploration Inc. (TSX VENTURE:LME) revealed that in 2003, 13 reverse circulation (RC) drill holes totalling 481 meters were completed on the East Ridge Gold/Silver Zone now part of the Bell Mountain Project. The East Ridge Zone area is approximately 1.5 km to the east of the Varga and Spurr gold zones where a 56 hole drill program was recently completed.

The drilling and sampling executed by NDT Ventures revealed numerous intersections of gold and silver values including 2.78 g/t Au and 64 g/t Ag over 15 feet, 3.13 g/t Au and 114 g/t Ag over 12 feet and 2.75 g/t Au and 72 g/t Ag over 9 feet.

Laurion states that "the drilling identified the consistent presence of a Main Vein and the occurrence of hanging-wall and footwall veins and stockworks on strike and down dip."

In addition, Laurion states "the East Ridge mineralization may add significantly to the resource potential of the Bell Mountain Project".

Based on a sliding-scale royalty, at today's gold price, Globex maintains a 3% Gross Metal Royalty on the Bell Mountain Project, holds 1,700,000 Laurion shares and may receive an additional 2,000,000 shares and $30,000 over the next year and one half.

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.

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 expectations and projections of Globex Mining Enterprises Inc. ("Globex").  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com

21,028,008 shares issued and outstanding

Contact Information