Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc.

January 10, 2011 10:51 ET

Work Advances on Globex Royalty and Optioned Properties

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Jan. 10, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that Glen Eagle Resources Inc. (GER-TSXV) has announced the discovery of "a new lithium bearing pegmatite horizon extending over a length of 2.2 km on the Authier property." Globex retains a gross metal royalty on one half of the Authier lithium zone and on the surrounding claims where the new discovery has been made. Glen Eagle intends to start a 4,000 meter drill program in mid-January to expand the known lithium bearing pegmatite zone and explore the potential of the newly discovered pegmatite horizon (See Glen Eagle's press release dated January 5, 2011).

In other news, Tres-Or Resources Ltd. (TRS-TSXV) has announced the start of a 1,500 meter drill program and a series of pit samples on their Duvay Gold Property in Quebec. The Duvay property has demonstrated historical intersections in drilling and in surface sampling of erratic, nuggety high grade gold assays (See Tres-Or press release dated January 6, 2011). Globex retains a gross metal royalty on this property. 

Laurion Mineral Exploration Inc. (LME-TSXV) reported in a press release dated December 16, 2010 the results of drilling on the Bell Mountain gold deposit in Nevada optioned from Globex (See press release dated June 29, 2010). A 56 hole program was completed totalling 4,340 meters. Numerous wide intersections of gold mineralization were reported including 15.2 m grading 2.39 g/t Au and 23.9 g/t Ag, 13.7 m grading 1.0 g/t Au and 30.16 g/t Ag, 7.62 m grading 3.37 g/t Au and 28.6 g/t Ag. The drill program was targeted to better define the known near surface gold zone and expand it both to depth and along strike which it succeeded in doing. Based upon the results, Laurion has engaged a consulting firm "to develop a NI 43-101 compliant technical report for the property contemplating a conventional low-cost open-pit mining method with heap-leach processing configuration."

Xmet Inc. (XME-TSXV) announced on January 6th, that two drills had commenced drilling on the optioned Duquesne West Property, one drill targeting expansion of the current NI 43-101 resource and the other testing the "existing 20-20 Zone", where recent drilling returned 6.65 g/t Au over 7.7 meters. The NIP Gold Zone will also be drill targeted and an airborne geophysical survey has been started.

Globex is pleased with the exploration undertaken on these properties by our partners (royalty and option) and looks forward to the results of new work that the project operators have announced.

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)
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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 Companies expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at

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