Mr. Jack Stoch reports

GLOBEX ACQUIRES GOLD EXPLORATION TARGET IN ARIZONA, USA

Globex Mining Enterprises Inc. has acquired by staking 24 unpatented lode claims totalling a surface area of 200.67 hectares (ha) (495.84 acres) in Mohave county, northwestern Arizona, United States.

The property herein called the Salt Spring project was staked to cover a large number of gold-bearing quartz veins, small historic mine workings and prospects. The project area is at the northernmost margin of the historic Gold Basin mining district. This district is large, about 18 kilometres (about 11.18 miles) long north-south and seven to 11 kilometres (about 6.84 miles) wide east-west.

Gold was discovered in the district in the early 1870s with most of the production prior to 1932 coming from the El Dorado, Excelsior, Golden Rule and Cyclopic mines. Total historic gold production is not known.

In the area covered by Globex's Salt Spring property, Globex has identified 14 small mine workings and at least 15 prospects. Surface finds (tins, glass, pottery) suggest a period of activity between 1905 and 1914.

Globex already carried out preliminary field work, including geological mapping, and collected a total of 70 rock samples. The Salt Spring project area and its surroundings are occupied in its southern part by Proterozoic terrain dominated by felsic and mafic migmatite gneiss, a felsic gneiss unit, orthogneiss, and dikes or small stocks of granodiorite. To the north of the project area is present a mostly under overburden concealed northeast trending fault/shear zone that dips at about 45 degrees north. This fault separates the terrain of Proterozoic rocks in the south from a younger, large, undeformed composite granitic-dioritic intrusion. The wide fault zone exhibits certain discovery potential for disseminated low-grade gold mineralization.

Gold-copper (Au-Cu) deposition occurred in a mesothermal intrusion-related environment. Gold-bearing buck quartz veins, but also quartz-stockwork emplaced along high- and low-angle fractures, faults and concordantly/stratabound along foliation especially along mafic-felsic gneiss contacts. Some individual veins approach lengths of over 200 metres (about 656.17 feet), pinch and swell and approach widths of up to tnree metres. However, gold mineralization is not restricted to quartz veins, it may occur also in late wallrock breccias and disseminated in country rock. From field observations and assay results, it was found that gold mineralization can be subdivided into three assemblages having different mineral and metal associations: Au-only assemblage, Au-Cu assemblage and gold-copper-lead-silver (Au-Cu-Pb-Ag) assemblage. The Au-Cu and Au-Cu-Pb metal assemblages exhibit zoning with the Au-Cu-Pb assemblage occupying the distal zone. The Au-only assemblage appears to represent a separate gold mineralization stage.

High-grade assay results of vein and stockwork mineralization include chip sample B-1 with 17.8 grams per tonne Au and 0.13 per cent Cu, mine dump grab sample B-6 with 16.2 grams per tonne Au and 0.36 per cent Cu, linear chip sample B-8 over 1.05 metres width (quartz stockwork) with 18 grams per tonne Au and 0.09 per cent Cu, mine dump grab sample B-29 with 25.6 grams per tonne Au and 0.17 per cent Cu, linear chip sample B-47 over 0.85 metre width (quartz stockwork) with 4.99 grams per tonne Au, and 0.07 per cent Cu linear chip sample B-68 over 0.8 metre width (stockwork) with 3.56 grams per tonne Au and 0.03 per cent Cu, and channel sample B-34 over 1.0 metre width with 4.85 grams per tonne Au and 0.02 per cent Cu. Samples collected from fault breccias (with less 10 per cent vein quartz fragments) returned 4.41 g/t Au in linear chip sample B-11 over 1.3 metres width and 41.4 grams per tonne Au in selected chip sample B-5 over 0.4 metre width. Linear chip sample B-19 collected over 3.6 metres width from granodiorite and gneiss (without quartz veining) returned 1.79 grams per tonne Au.

Analytical methods

Samples were placed in labelled plastic bags, sealed with a plastic zip and shipped to American Assay Laboratories (AAL) in Sparks, Nev., United States, for preparation and geochemical analysis. AAL is an ISO 17025 certified laboratory. Samples are crushed and a 300-gram subsample pulverized to over 85 per cent minus 75 micron. All samples underwent ICP-OES analysis of a 0.5-gram subsample after five-acid digestion for 11 elements, including silver. Five-acid treatment results in near total digest. Gold was analyzed via fire assay of a 30-gram subsample and analyzed with ICP-OES. Obtained gold values above 10 grams per tonne were reanalyzed through fire assay of a 30-gram subsample and gravimetric determination. Typical internal standards and checks were completed by AAL during analysis.

This press release was written by Matthias Jurgeit, eurogeologist, under the supervision of Jack Stoch, Geo, presiden and chief executive officer of Globex in his capacity as a qualified person (QP) under National Instrument 43-101.

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