Mr. Jack Stoch reports

GLOBEX OPTIONS A NI-CU-CO PROJECT IN QUEBEC TO BURIN GOLD

Globex Mining Enterprises Inc. signed a letter of intent agreement on June 2, 2023, with Burin Gold Corp. to acquire a 100-per-cent interest in the Dalhousie project, comprising 31 claims located 53 kilometres to the east of Matagami and four kilometres south of Ramsay Bay, at Lac au Goeland in Quebec.

The Dalhousie project is an ortho-magmatic Ni-Cu-Co (nickel-copper-cobalt) prospect located within the mafic-ultramafic package of the Bell River complex. It is located on the north-central margin of the Abitibi orogenic belt in proximity to the Matagami mining camp in Quebec, Canada.

Limited historical drilling, up until the late 1980s, focused on poorly constrained geophysical anomalies yet successfully intercepted mineralization near conductive features. A property-wide geophysical (TDEM) survey, completed in 2007, identified multiple conductive features coincident with surface mineralization and these targets remain untested. Historical chip channel samples collected above the untested electromagnetic (EM) conductors graded up to 3.79 per cent Cu, 0.90 per cent Ni and 0.28 per cent Co.

Fieldwork will commence this summer, including reprocessing of the TDEM data, aiming to better delineate and model existing conductive features. This work should quickly fast-track the project, so that Burin can drill test the priority conductors later this year, in conjunction with downhole electromagnetic surveying (DHEM) to identify any possible off-hole conductors.

Under the terms of the agreement, Burin shall pay $1.5-million and issue four million Burin shares to Globex and undertake $5-million in exploration over a four-year period to earn a 100-per-cent interest in the property. The terms are provided in the attached table.

Globex shall retain a 3-per-cent gross metal royalty (GMR) on all payable metals subject to a 1-per-cent buyback for $1-million payable any time. This news release was prepared by Jack Stoch, Geo, president and chief executive officer of Globex, in his capacity as a qualified person (QP) under National Instrument 43-101.

We seek Safe Harbor.