Mr. Jack Stoch reports

EMPEROR INTERSECTS 15.8 G/T AU OVER 10.8 M ON DUQUESNE WEST PROPERTY UNDER OPTION FROM GLOBEX

Globex Mining Enterprises Inc. has provided an update on progress by Emperor Metals Inc. on the Duquesne West gold property under option from Duparquet Assets, 50 per cent owned by Globex, located in Duparquet township, Quebec, north of Rouyn-Noranda.

To date, Emperor has completed 8,239 metres of the initial 8,000-plus-metre drill program, having recently completed drill hole DQ23-13. Emperor previously announced partial assays from holes DQ23-01 and DQ23-02 (see Globex press release dated Sept. 12, 2023).

Results included:

DQ23-01:

• 5.63 grams Au over 11.70 m, including 7.98 g/t Au over 5.75 m.

DQ23-02:

• 3.97 g/t Au over 10.65 m, including 5.34 g/t Au over five m;
• 1.69 g/t Au over 25 m, including 3.12 g/t Au over seven m.

As regards these two holes, Emperor has now announced additional mineralized intersections as follows:

DQ23-01:

• 2.77 g/t Au over 4.15 m from 659.7 m to 663.85 m;
• 0.62 g/t Au over 22.6 m from 794.40 m to 817 m;
• 0.33 g/t Au over 28.8 m from 914.15 m to 942.95 m.

DQ23-02:

• 1.99 g/t Au over two m from 517.2 m to 519.2 m;
• 2.69 g/t Au over 2.5 m from 677.1 m to 679.6 m.

Assay results from new holes DQ23-03, 04 and 05 are now announced as follows:

DQ23-03:

• 5.09 g/t Au over 1.1 m from 417.75 m to 418.85 m;
• 6.14 g/t Au over two m from 941.20 m to 943.20 m.

DQ23-04:

• 0.45 g/t Au over 17.50 m from 318.50 m to 336 m;
• 6.23 g/t Au over 2.75 m from 433.70 m to 436.45 m;
• 4.24 g/t Au over three m from 449 m to 452.00 m;
• 19.01 g/t Au over 1.20 m from 548.30 m to 549.50 m;
• 0.45 g/t Au over 34.70 m from 571.30 m to 606 m;
• 2.95 g/t Au over 1.25 m from 651.35 m to 652.60 m.

DQ23-05:

• 5.01 g/t Au over 2.5 m from 133 m to 135.50 m;
• 0.50 g/t Au over 24.4 m from 257.20 m to 281.60 m;
• Two g/t Au over 3.1 m from 391.90 m to 395 m;
• 15.85 g/t Au over 10.80 m from 556 m to 566.80 m, including 27.24 g/t Au over 3.4 m;
• 0.52 g/t Au over 18.35 m from 575.65 m to 594 m;
• It is believed that hole DQ23-05 extends the targeted gold zone an additional 100-plus metres along plunge.

True widths of holes DQ23-01 to 23-04 estimated at 90 per cent.

True widths of hole DQ23-05 estimated at 80 to 90 per cent (see Emperor Metals press release dated Oct. 17, 2023).

Emperor states it "continue[s] to see significant intervals of gold grades amendable for a conceptual open-pit mining environment above a high-grade underground mine."

The Duquesne West property has a historical National Instrument 43-101 inferred resource of 727,000 tonnes grading 5.42 g/t Au (using a gold price of $960 (U.S.)/ounce Au). The NI 43-101 report is available on Globex's website.

This press release was written by Jack Stoch, Geo, president and chief executive officer of Globex, in his capacity as a qualified person under NI 43-101.

We seek Safe Harbor.