Additional Drill Results on Optioned Globex Eagle Gold Mine Property

ROUYN-NORANDA, Quebec, Dec. 14, 2022 (GLOBE NEWSWIRE) —

GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich,


Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exch


anges


and GLBXF – OTCQX International in the US)

is pleased to provide a short update on drilling by

Maple Gold Mines Ltd. (MGM-TSXV)

on the Eagle Gold Mine property under option from Globex. (

See Globex Press Release dated July 19, 2021

).

On December 7, 2022, Globex issued a press release in which we reported that Maple intersected

11.39 g/t Au over 3 m including 24.4 g/t Au over 1 m

in a mineralized horizon parallel to the main Eagle-Telbel gold mine horizon. Yesterday, Maple reported results from additional drilling in the same horizon, including the following core lengths and assays from shallow to deeper (

see cross section below)

confirming continuity of the mineralized “South Mine Horizon”:

EM-22-015:


6.1 m grading 1.6 g/t Au including 1.0 m grading 2.8 g/t Au

EM-22-016:


7.3 m grading 3.1 g/t Au including 3.6 m grading 4.0 g/t Au and 4.2 m grading 1.7 g/t Au

EM-22-013:


10.4 m grading 2.3 g/t Au including 3.2 m grading 5.0 g/t Au

EM-22-005:


7.5 m grading 4.0 g/t Au including 3.0 m grading 6.4 g/t Au

All intervals are downhole lengths. True widths are estimated to be between 35% (for steeper holes) to 80% (for shallower angle holes) of downhole lengths.

See Maple Gold Press Release

for details.

Additional assays are pending.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

Forward Looking Statements:

Except for historical information, this news release may contain certain “forward looking statements”.  These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”).  No assurance can be given that any events anticipated by the forward looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom.  A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at

www.sedar.com

.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e579900d-a1f2-4ff0-a8cf-9d9518d838c3

https://www.globenewswire.com/NewsRoom/AttachmentNg/96ac4418-cbb3-4920-b6c9-a720bb1395d9