ROUYN-NORANDA, Quebec, Jan. 18, 2024 (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 Brunswick Exploration Inc. (TSXV-BRW, BRWXF- OTCQB) reports additional wide and multiple Li2O intersections on the Globex Lac Escale (Mirage) royalty property in the James Bay area of Quebec.
On January 24, 2023, (click to access press release) Globex announced the sale of the property to Brunswick while maintaining a 3% Gross Metal Royalty, 1% of which may be purchased for an additional $1,000,000. In addition, upon the 5th anniversary of the agreement or following total expenditures of $4,000,000 whichever comes first, Brunswick will commence to pay Globex an annual $100,000 advance royalty payment.
Today, Brunswick announced 10 additional drill holes. Of particular interest are, three drill holes collared at the same location but at successively steeper dip angles.
| DRILL HOLE | CORE LENGTH (M) | LI2O% |
| MR-23-28 | 37.2 | 1.80 |
| MR-23-29 | 32.2 | 1.55 |
| MR-23-30 | 24.6 | 1.75 |
True widths are currently unknown. See Cross Section on next page.
Surface Map of the Mirage Project and Drill Holes Completed to Date – Brunswick Exploration
Cross Sections A to A’ along Dyke MR-6 – Brunswick Exploration
Other holes at various areas of the property intersected multiple single or multiple intersections of Li2O mineralization. Shareholders are directed to the Brunswick press release to view all the drill results.
This press release was written by Jack Stoch, 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 50 9 LEI 529900XYUKGG3LF9PY95 |
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| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 |
Tel.: 819.797.5242 Fax: 819.797.1470 [email protected] www.globexmining.com |
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.
Images accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/81b493ea-55e0-4064-9b02-8999f0fd959a
https://www.globenewswire.com/NewsRoom/AttachmentNg/3f73c3cf-5603-43d1-a8e2-cf7ebe4d7131
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