Mr. Jack Stoch reports

WORK PROGRESSES ON GLOBEX ROYALTY PROPERTIES

Globex Mining Enterprises Inc. has provided shareholders with the following news.

Cartier Resources Inc. has reported that it has started a 25,000-metre drill program on the Cadillac East portion of its Large Chimo gold mine property. Judging from the target positions displayed in its press release dated Feb. 1, 2024, the bulk of the drill holes will be on Globex's 3-per-cent gross metal royalty claims.

At the same time, Brunswick Exploration has started its winter drill program on Globex's Lac Escale claims (Mirage project). The drilling will test a lithium-bearing dike swarm over a 2.8-kilometre strike length where Brunswick's previous exploration has outlined numerous lithium-bearing pegmatite dikes of considerable width and grade.

Manganese X Energy Corp. has signed a memorandum of understanding with U.S. battery technology leader C4V, leading to a potential offtake deal from the company's Battery Hill high-purity manganese project in Woodstock, N.B. "The non-binding agreement is based on the potential supply of electric vehicle (EV) compliant high-purity manganese monohydrate, a sample of which is currently being prequalified by C4V for its Giga Factory joint ventures. The sample was produced as part of Manganese X's pilot plant project, using its patent-pending groundbreaking manganese purification technology to process Battery Hill manganese carbonate into EV compliant high-purity manganese sulphate monohydrate as a precursor to the cathode."

In a Feb. 14, 2024, press release, Emperor Metals Inc. announced that it completed a 424 line km aeromagnetic geophysical survey comprising 14.5 square km at the Duquesne West gold project in Duparquet township, Quebec. The survey used tighter line spacing allowing for "new and improved detail advancing Emperor's understanding of the structural framework and lithological controls crucial to mineralization."

Emperor believes that "this data set not only enhances our understanding of the complex geological environment at Duquesne West but also aligns perfectly with our strategic objectives. By identifying signatures indicative of both high- grade and bulk-tonnage gold deposits, we're now equipped to expand our exploration efforts across multiple fronts. This improved aeromagnetic detail is meaningful for our 2024 drilling program, setting the stage for a transformative year. With these insights, we're more confident than ever in our ability to uncover new targets for expanding known mineralization and exploring new prospects."

At Globex's Fayolle royalty property, Iamgold is mining by open pit and transporting the ore to its Westwood mill. Globex has begun to receive quarterly royalty payments on Globex's 2-per-cent net smelter royalty purchased many years ago. In December, Globex received a $58,814.68 royalty payment.

Kiboko Gold Inc. reported (Feb. 7, 2024, press release) that it has "concluded that the evaluation of the Fontana area has not identified a near-surface gold deposit of economic significance. Consequently, the company has decided to discontinue mineral resource evaluation of this area and will focus exploration efforts on other areas of the property." It has indicated that the expansive 100 square km contiguous claim package has a portfolio of prospective targets, including the underexplored Claverny gold zone and Duvay and Monpas areas.

At the Silidor aggregate quarry, as of Dec. 31, 2023, 577,548 tonnes of rock were blasted, and 105,822 tonnes crushed and delivered. A stock pile of 56,794 tonnes is in inventory. Globex previously received $150,000 as an advance payment on the first 300,000 tonnes deliverable.

At Globex's 100-per-cent-owned Wyse township, Ontario, high-grade silica property, it has completed mapping and channel sampling various horizons. A number of samples were sent to SGS Mineral Services for QEMSCAN analysis to identify various impurities. As expected, mica (muscovite) was found to be the principal impurity followed by trace amounts of iron oxides and a number of other very minor impurities. Based upon these findings, Globex has engaged CTRI, the Centre technologie des residus industrial in Rouyn-Noranda, to undertake initial metallurgical testing applying various methods such as flotation and magnetics to remove these impurities. The market value of silica depends upon the purity. The greater the purity the higher the market price.

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.

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