Mr. Jack Stoch reports

FEASIBILITY STUDY ON GLOBEX'S MONT SORCIER ROYALTY DUE IN Q2

Globex Mining Enterprises Inc. has informed shareholders that Cerrado Gold released an update in its Q4 and annual 2025 financial results disclosure as regards progress on Globex's 1-per-cent gross metal royalty Mont Sorcier iron project located just east of Chibougamau, Que. Its April 2, 2026, press release indicates that the feasibility study should be available in Q2 2026 and 17,890 metres of infill drilling was completed in 2025 in support of resource definition for the feasibility study. Globex is very pleased by the progress to date. Please access a copy of the full disclosure from Cerrado's press release.

Mont Sorcier

At the Mont Sorcier high-grade iron project operated by Cerrado's wholly owned subsidiary, Voyager Metals Inc., work continued to advance the project with several workstreams related to permitting, social licence and the initiation of the feasibility study, which is targeted to be completed during Q2 2026. During 2025, Voyager completed its targeted infill drilling program of 17,890 metres in order to update sufficient resources to the proven and probable categories, as required to support the ongoing feasibility study.

In November, 2025, Voyager acquired an additional 22 mining claims on properties adjacent to its existing block. These new claims provide additional capacity for infrastructure development on Voyager's existing claims and provide a buffer around the core development area.

Anticipated production of high-quality 67-per-cent grade iron concentrate is expected to ideally position the Mont Sorcier project to support the growing global green steel transition due to the reduced emissions generated by steel producers using high-grade concentrates. The bankable feasibility study will look to expand the potential for the project that was highlighted in the previous 2022 National Instrument 43-101 preliminary economic assessment (PEA) that delivered a project NPV (net present value) 8 per cent of $1.6-billion (U.S.) based upon iron concentrates grading 65 per cent iron. With the improved metallurgical results received to date, the company believes it can deliver a high-purity DRI-grade iron ore concentrate product of over 67 per cent iron, which is a highly desired product to support the green steel transition.

This press 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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