Mr. Jack Stoch reports

LODESTAR CONFIRMS SIGNIFICANT RARE EARTH MINERALIZATION ON THE VIRGIN MOUNTAIN PROPERTY UNDER OPTION FROM GLOBEX

Globex Mining Enterprises Inc. has provided shareholders with an update on recent work undertaken by Lodestar Minerals Ltd. on the Virgin Mountain rare earth property, located in Arizona, under option from Globex, as reported by Lodestar in a news release dated March 18, 2026.

On Feb. 23, 2026, Lodestar reported assay results from chip samples taken over the primary structural trend. Assays from five of the samples are provided in the attached table.

Samples were examined using a scanning electron microscope (SEM) at the Centre for Advanced Microscopy (CAM) at the Australian National University. The machine at CAM is equipped with EDS and EBSD systems for elements and crystallographic analysis.

Xenotime has now been confirmed as the dominant REE-bearing (rare earth element) mineral, confirming heavy rare earth potential for the Virgin Mountain REE project.

Per Lodestar, "The identification of xenotime is significant as it contains a high proportion of high-value HREEs (dysprosium, terbium and lutetium), all three of which have been repeatedly identified by agencies in the USA as critically undersupplied with severe exposure to foreign supply." These elements are required for EV (electric vehicle) motors, wind turbines, defence systems, guidance systems, radar technology, advanced military electronics and nuclear reactors.

"The samples with confirmed xenotime are from a mineralized shear zone within a mapped, five-kilometre-long structure, hosted by Paleoproterozoic gneiss."

Globex announced the optioning of the Virgin Mountain rare earth property to Lodestar on Sept. 29, 2025.

This news release was written by Jack Stoch, PGeo, executive chairman and chief executive officer of Globex, in his capacity as a qualified person (QP) under National Instrument 43-101.

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