Emperor Resumes Drilling on Globex's Optioned Claims

ROUYN-NORANDA, Quebec, May 21, 2024 (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 Emperor Metals Inc. (AUOZ-CSE, EMAUF-OTCQB, 9NH-FSE) has mobilized a drill rig to commence its 2024 exploration program on the Duquesne West Gold Property under option from Globex. The drill program will total 8,000 metres.

The Duquesne West Gold property straddles the gold localizing Porcupine-Destor Break in Duparquet Township, Quebec and is located approximately 10 km east of the town of Duparquet. A historical resource of 727,000 ounces of gold (cut) at a grade of 5.42 g/t Au was calculated by Watts, Griffis and McOuat Consulting Geologists and Engineers, October 20, 2011 (click to access) in a report titled “Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman property, Quebec, Canada for XMet Inc.”

Emperor has taken a binary approach to exploration on the property seeking to outline an open-pittable, lower grade, large tonnage gold deposit in addition to the more conventional high-grade underground mine as was previously sought on the property. Current efforts by Emperor toward outlining these types of gold deposits consists among other things of new drilling and relogging, resampling, and assaying previous drill holes which Globex has maintained in Globex’s core library. As a matter of course, Globex stores most drill core from drill holes undertaken on our properties for just such occasions.

For access to Emperors press release, click here.

For access to Globex’s October 12, 2022 press release announcing the option to Emperor Metals, click here.

This press release was written by Jack Stoch, P. 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.

55,204,836 shares issued and outstanding