TORONTO, Sept. 29, 2026 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that Albright Metals Limited have announced a Mineral Resource Estimate for the Vail Road Gold Deposit in New Brunswick (under Australian JORC 2012 Code) under option from Globex. The update incorporates assays, geology, rock density and structural data from additional drilling by Albright Metals in late 2025.
The new Global Mineral Resource Estimate for the Vail Road Gold Deposit (Devils Pike) is reported as 188,000 t grading 9.0 g/t Au for 54,200 contained gold ounces at a 2.0 g/t Au cut-off grade, including an initial Indicated Category portion of 33,500 t grading 20.9 g/t Au for 22,500 contained gold ounces.
The JORC 2012 code Mineral Reserve Estimate will be used as the bases for a Scoping Study. Also, noteworthy is that high-grade extensions have been identified for additional drilling. This new JORC Code updates a 2011 Canadian NI 43-101 resource estimate. This 2026 JORC 2012 Mineral Resource incorporates geology logging and assay results for 24 additional drill holes for 4,349.5 m of core drilling completed by Rockport in 2011 and 2012 and 15 additional diamond core holes for 1,022.5 m by Albright Metals in 2025. The additional drilling helped to refine the resource and the density applied to it. In addition, the new resource uses a lower cut-off grade of 2 g/t Au, versus 5 g/t Au in the 2011 NI 43-101 resource.
Table 1 – Vail Road Gold Deposit 2026 Mineral Resource by Resource Category and Zone
| Category | Zone | Kilotonne (kt) |
Au g/t | Au ozs (000s) |
Cu ppm |
|
Indicated |
Main | 11.1 | 31.1 | 11.1 | 4,010 |
| Middle | 10.4 | 19.5 | 6.6 | 3,338 | |
| Parallel | 11.9 | 12.7 | 4.9 | 2,067 | |
| Subtotal | 33.5 | 20.9 | 22.5 | 3,107 | |
|
Inferred |
Main | 42.2 | 4.0 | 5.4 | 1,881 |
| Middle | 6.8 | 10.0 | 2.2 | 1,797 | |
| Parallel | 105.6 | 7.1 | 24.1 | 1,395 | |
| Subtotal | 154.6 | 6.4 | 31.7 | 1,545 | |
| GLOBAL | TOTAL | 188.0 | 9.0 | 54.2 | 1,823 |
Note: Mineral Resource reported at 2 g/t Au cut-off grade; Numbers may not add up due to rounding; Tonnages are dry metric tonnes; Kilotonne = 1,000 tonnes; 10,000 ppm = 1%
The new resource estimate now contains a portion in the Indicated Mineral Resource category based upon an improved understanding of the structural controls of the veining and gold mineralization.
Figure 1 – Vail Road Gold Deposit Mineral Resource and Drill Collar Plan
Figure 2 – Vail Road Gold Deposit Section A – A’
Shareholders may access the 51-page Albright press release which provides extensive data upon geology, assaying methodology, drilling techniques and hole spacings, sampling methods, etc. by clicking here.
Jack Stoch, P.Geo., Executive Chairman and CEO of Globex, in his capacity as a Qualified Person (Q.P.) under Ni 43-101, prepared the information that forms the basis of this written disclosure.
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|
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. Executive Chairman & CEO Globex Mining Enterprises Inc. 120 Carlton Street, Unit 219 Toronto, Ontario, Canada M5A 4K2 |
Tel.: 819.797.5242 Fax: 819.797.1470 [email protected] www.globexmining.com |
Caution Regarding Forward-Looking Statements
Certain statements included in this press release may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. Except as may be required by such laws, Globex Mining Enterprises Inc. (“Globex”) does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties. As a result, actual results could differ materially from Globex’s expectations expressed in or implied by such forward-looking statements. No assurance can be given that any events anticipated by the forward-looking statements will materialize, or if any of them do, what benefits Globex will derive therefrom. Numerous risk factors which may cause actual results to differ materially from expectations expressed in or implied by the forward-looking statements are discussed in Globex’s annual information form for the 2025 fiscal year filed with the Canadian securities regulatory authorities, available on SEDAR+ at www.sedarplus.ca and on Globex’s website at www.globexmining.com. Globex cautions readers that such risks are not the only ones that could impact it. Additional risks and uncertainties not currently known to Globex or that Globex currently deems to be immaterial may have a material adverse effect on Globex’s business, financial condition, and results of operations. Given these risks and uncertainties, Globex cautions investors and others against placing undue reliance on such forward-looking statements as a prediction of future results or for any other purpose. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “1933 Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the 1933 Act), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the 1933 Act.
