Maple Gold Mines Ltd. Advances Exploration on Eagle Gold Mine Property Optioned from Globex

ROUYN-NORANDA, Quebec, Dec. 07, 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 Exchanges and GLBXF – OTCQX International in the US) is pleased to provide shareholders with a brief update regarding the Eagle Gold Mine property (“Eagle”) optioned by Globex to Maple Gold Mines Ltd. (MG-TSXV, MGMIF-OTCQB and M3G-FSE) (“Maple Gold”).

Update:

Maple Gold has completed its second drill program at Eagle. Hole EM-22-009 intersected 11.39 g/t Au over 3 metres including 24.4 g/t Au over 1 metre (“m”) in a mineralized horizon that is parallel to the main Eagle-Telbel mine horizon. (click to Maple Gold press release August 15, 2022).

Three (3) drill rigs are currently turning at Eagle, where Maple Gold’s previously announced 5,000m Phase III drill program is expected to be completed by year-end.

Maple Gold has also completed an airborne Mag-EM Survey utilizing the Geotech Ltd. VTEM^TM Plus Time Domain EM system with a horizontal magnetic gradiometer configuration. The survey outlined a number of priority anomalies both north and south of the past-producing Eagle mine. (click to Maple Gold Press release July 19, 2022).

The work by Maple Gold confirming significant gold values in the horizon adjoining and parallel to the main Eagle-Telbel mine horizon and the geophysical survey which indicated anomalous areas both north and south of the Eagle mine augur well for the potential of ongoing exploration on the property.

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.

Cross section (100 m total width) highlighting EM-22-009 intercept and historical intercepts in the hanging wall microgabbro north of the main Eagle mine horizon (Source: Maple Gold news release of August 15, 2022).

Historical drilling had intersected this horizon at various depths, but it was not followed up upon in a systematic way.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/124b0cc6-215e-4bf0-9f29-c6fac43cc0b2

Fig. 1

Cross section (100 m total width) highlighting EM-22-009 intercept and historical intercepts in the hanging wall microgabbro north of the main Eagle mine horizon (Source: Maple Gold news release of August 15, 2022).