Mr. Jack Stoch reports

GLOBEX ACQUIRES NUMEROUS HIGH-GRADE GOLD TARGETS IN ARIZONA

Globex Mining Enterprises Inc. has acquired by staking 40 lode claims in the north of the famous historic Gold basin mining district. The property consists of 24 lode claims in the West claim block and 16 lode claims in the East claim block. Total surface area amounts to 334.45 hectares.

The property herein called the Salt Spring project was staked to cover numerous gold-bearing quartz veins, small historic mine workings and prospects. It is located in northwestern Arizona, Mohave county, 85 kilometres in beeline southeast of the city of Las Vegas, Nev., and about 15 km south of Lake Mead. 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 West claim block, 14 small mines and at least 15 prospects had been previously identified. The historic Gold Hill mine, the small North mine, Central mine and about 15 small prospects, cuts or workings are in the East block. Although the largest mine in the northern Gold basin region, the Gold Hill mine was a rather small operation with intermittent production between 1930 and 1942. According to records from 1940 there exist two tunnels 55 metres and 18 m in length and one inclined shaft to 12 m depth. A few thousand tons must have been extracted from the mine considering the size of underground mine workings and mine dump (about 2,000 tons). Old records to past production are limited to a note that reports 359.57 tonnes averaging 21.7 g/t Au in 1940 (composed of 11 individual shipments of ore ranging in size between 13 t and 127 t and grades between 11.9 g/t Au and 48 g/t Au).

An eluvial gold placer is located within a 400 m long ravine 500 m northwest of the Gold Hill mine. Gold is recovered here sporadically by small-scale dry washer operations. The source deposit for this eluvial gold placer has not been discovered.

Results from recent Globex surface sampling

Globex has carried out preliminary fieldwork including geological mapping and collected a total of 131 rock samples and 32 soil samples as a test geochemical survey.

High-grade assay results of vein and stockwork mineralization found in the West claim block include grab 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 g/t Au and 0.36 per cent Cu, linear chip sample B-8 over 1.05 m width (quartz stockwork) with 18 g/t Au and 0.09 per cent Cu, mine dump grab sample B-29 with 25.6 g/t Au and 0.17 per cent Cu, linear chip sample B-47 over 0.85 m width (quartz stockwork) with 4.99 g/t Au, linear chip sample B-68 over 0.8 m width (stockwork) with 3.56 g/t Au and channel sample B-34 over 1.0 m width with 4.85 g/t Au.

Samples collected from fault breccias (with less than 10 per cent vein quartz fragments) returned 4.41 g/t Au in linear chip sample B-11 over 1.3 m width and 41.4 g/t Au in selected chip sample B-5 over 0.4 m width.

Linear chip sample B-19 collected over 3.6 m width from granodiorite and gneiss (without quartz veining) returned 1.79 g/t Au.

The Gold Hill mine that historically exploited high-grade gold ore is located in the East block. The mine adits are barred, and sampling/mapping of the underground mine workings was not possible. Sample B-123, a linear chip sample over 1.5 m horizontal width of a massive quartz vein, returned 8.55 g/t Au.

Linear chip sample B-107 collected from the northwest-southeast-trending Central vein system assayed 49.27 g/t Au, over a true vein width of 0.9 m, the highest grade from the entire Salt Spring project. Also, a sample from the adjoining wallrock returned low-grade gold (1.26 g/t Au in sample B-106). A mine dump grab sample B-93 from the Central mine returned 11.3 g/t Au.

A linear chip sample over a 1.4 m thickness and mine dump sample B-94/95 from the manto-like ore body at the North mine returned 20.8 g/t and 26 g/t Au, respectively.

Two samples were collected from pegmatitic granite dikes replaced partly by coarse crystalline pyrite (oxidized to limonite/hematite): grab sample B-118 from 0.5 m thick replacement in one m thick dike returned 3.46 g/t Au and grab sample B-119 from pyrite-replacement in one m thick granite dike returned 1.14 g/t Au.

Also important is (unselected) grab sample B-111 which assayed 10.73 g/t Au. It was collected from suboutcropping clay-sericite-ankerite altered gneiss/schist with few quartz veinlets at a north-dipping mountain slope. The site represents probably the northernmost outcrop-line of a subhorizontal manto-like shear zone. Toward the north it had been removed by erosion and placer gold in the ravine to the north must be derived from this mostly non-outcrop area. This may explain the 900 parts per billion gold-in-soil anomaly encountered 15 m to the north of this sample site. It is believed that this gold zone, perhaps 1.5 to 2.5 m thick, extends southward.

Another interesting gold discovery is represented by sample site B-121. Here exist no outcrops and the collected general grab sample consists just of rock float from an argillic-limonitic altered granite breccia over a three by three m area. It returned 3.21 g/t Au. No historic mine pits are evident at this location. Most likely the gold mineralization is associated with a concealed flatly dipping shear zone.

Note: Grab samples and chip samples are selective by nature and are unlikely to be representative of average grades.

Analytical methods

Rock 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 g subsample pulverized to greater than 85 per cent negative 75 micron. All samples underwent ICP-OES analysis of a 0.5 g subsample after five-acid digestion (HNO3, HF, HClO4, HCl and H3BO3) for 11 elements including silver. Five-acid treatment results in near total digest (resistant phases, for example corundum, ilmenite and rutile are not digested). Gold was analyzed via fire assay of a 30 g subsample and analyzed with ICP-OES. Obtained gold values above 10 g/t were reanalyzed via fire assay of a 30 g 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, president and chief executive officer of Globex, in his capacity as a qualified person (QP) under NI 43-101.

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