Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

October 18, 2006 03:00 ET

Wide Gold Intersection at Globex's Duquesne West Project

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Oct. 18, 2006) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRANKFURT:G1M) (U.S. PINK SHEETS:GLBXF) has received additional assay results from its partner Diadem Resources Ltd. (TSX VENTURE:DRL) from drilling on Globex's 50% owned Duquesne West gold property.

Diadem has reported to Globex that Hole DQ-06-02, drilled to test the up dip of the Liz Zone, intersected 6.17 g/t Au over 1.0 metre while several other intersections down the hole intersected up to 16.6 g/t Au over 1.0 metre.

Hole DQ-06-03, collared on line L-28+00, intersected the Liz Gold Zone ( at 160 metres (524 feet) below a previous Queenston hole, DQ-03-16, which returned 6.1 g/t Au over 9.1 m (0.178 oz/T Au over 29.85 ft) (see Globex's press release dated November 4, 2003).

Hole DQ-06-03, assayed 8.9 g/t Au over a core length of 6 metres (0.259 oz /T Au over 19.7 ft), for an approximate true width of 4 metres (13.12 ft), within a zone which graded 4.1 g/t Au over a core length of 19.5 m (0.12 oz/T Au over 64 ft), for a true width of approximately 13 metres (42.65 ft).

The Liz Zone can now be traced down dip for approximately 400 metres and is open to depth.

The Duquesne West drilling program is supervised by Diadem's consulting geologist and qualified person Dave Gamble, P. Geo. ON, employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core was logged and split and half-core samples were analyzed employing the appropriate gold fire assaying techniques as required. Analysis was conducted by Expert Laboratory Inc. of Rouyn-Noranda, Quebec.

Globex is pleased with the progress to date. Drilling is continuing with hole DQ-06-04 completed and DQ-06-05 underway.

For more detail, refer to Diadem's press release of today's date.

This press release was written by Jack Stoch in his capacity as a Qualified Person (Q.P.).

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