Globex Sells Two Quebec Properties

ROUYN-NORANDA, Quebec, Feb. 01, 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 inform shareholders that it has sold the recently staked

Des Herbiers uranium project

located northwest of the town of Johan-Beetz (NTS 12L07), Quebec.

The property acquired in November 2021 was extensively explored by Uracan Resources Ltd. (now Vanadian Energy Corp.) which reported a large, low grade, indicated and inferred uranium resource (see

November 17, 2021 Globex press release

for details).

Globex has sold the 66-claim package to Australian Corporation

Infini Resources Pty Ltd. (the Purchaser)

and its wholly own Canadian subsidiary Fleur de Lys Exploration Corporation for the following consideration:

• 
  $100,000 CDN
  
  payable within 30 days of the signature date (January 27,2022) of the contract;
• 
  $200,000 CDN
  
  payable within 30 days of receiving the Conditional Admission Letter from the security authorities;
• 
  $300,000 CDN
  
  in the Purchaser shares at a price equal to the listing price;
• 
  3% Gross Metal Royalty
  
  (GMR) of which 1% GMR may be purchased by the Purchaser for $1,000,000 CDN.

Globex is pleased to have quickly vended this asset realizing a quick return for Globex shareholders.

Also, in early December 2021, Globex sold its

Coconut Club rare earth property

east of Kipawa, Quebec to

REEgenerate


Pty Ltd.,

an Australian corporation. The property, located in Pomeroy (31M02) and McLachlin (31L15) townships Quebec, is comprised of 8 claims. Consideration for the sale consists of $10,670 CDN (received), $20,000 in REEgenerate shares and a 2% Gross Metal Royalty. Surface grab samples and a number of shallow drill holes have returned highly anomalous rare earth assays (see

Globex Press Release dated March 4, 2010

titled Globex Reports High Rare Earth Assays).

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

.