Globex Property Optionee Orford Intersects Wide Gold Zones Again

ROUYN-NORANDA, Quebec, April 20, 2023 (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 Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that Orford Mining Corp. (ORM-TSXV) has reported additional wide gold intersections on the Joutel Eagle property under option from Globex.

Hole 23-JE-008 drilled into the South Gold Zone has intersected “two thick intersections of gold mineralization: 15.7 metres @ 1.7g/t Au (21.7 to 35.1 metres) and 14.2 metres @ 2.2g/t Au (61.9 to 70.1 metres) which is approximately 200 metres to the north west of hole 23-JE-015 which reported 54 metres @1.1 g/t Au including higher grade intervals, of up to 9.1g/t Au over 0.4 metres. Hole 23-JE-009, reported 0.3 metres @ 1.2g/t Au as it appears to have been drilled too far to the north as the South Gold Zone appears to move toward the south proximal to the 23-JE-008 collar which was collared in gold mineralization. 23-JE-016 was drilled to confirm the presence of the South Gold Zone to the south of hole 23-JE-008. We have now received results for a 250 m strike length of the tested 400m strike of south gold zone.”

The Joutel Eagle Property is located along the historical Eagle-Telbel Mine Trend in the Abitibi Greenstone belt. 14 holes totaling 2,535 metres have been drilled in 2023. This drill program has tested a 400-metre strike length of the South Gold Zone and drill results received to date both in the 2022 and preliminary 2023 drilling have shown that the South Gold Zone hosts higher grade gold over wider intersections than had been reported historically.

Shareholders are directed to Orford’s press release of today’s date for details of the current assay results and historical South Gold Zone assays.

Map of the Joutel Eagle South Gold Zone Showing New Results and Completed Drilling. Note that All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48f8a112-da2a-4dfc-8ed8-5eb997f992e9

Figure 1

Map of the Joutel Eagle South Gold Zone Showing New Results and Completed Drilling. Note that All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.