Positive Results Prompt More Drilling on Globex's Lac Escale (Mirage) Lithium Royalty Property

ROUYN-NORANDA, Quebec, July 23, 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 provide an update on work by Brunswick Exploration Inc. (BRW-TSXV) on Globex’s Lac Escale (Mirage) lithium royalty property.

Today, Brunswick reported (click here to access Brunswick Press Release) that they have completed their 2024 prospecting program and have started a 5,000 metre summer drill program. To date, Brunswick have completed 71 drill holes totalling more than 12,000 metres, delineating 9 new-surface spodumene-bearing dykes with widths from 8 metres to approximately 20 metres.

Brunswick’s prospecting and detailed mapping was supplemented by a till survey. Samples retrieved coarse spodumene crystals in till beyond known till trains, indicating the potential for new sources. Brunswick intends to expand the till survey in the fall. Prospecting also outlined numerous new spodumene-bearing boulders beyond the main boulder trains previously identified. The size (see Figure 2 below) and angularity of the boulders indicate that the sources may lie close-by.

Brunswick has indicated that “Combined with the till surveys and geophysics completed to date, Brunswick strongly believes significant mineralization remains to be found at Mirage”.

Figure 1: Surface map of the till program and location of new spodumene boulders

Figure 2: New angular boulder discovered in latest prospecting program

Globex is pleased with the progress by Brunswick to date and looks forward to future drill and exploration results.

Globex retains a 3% Gross Metal Royalty on production from the property.

The scientific and technical information contained in Brunswick’s press release and reported above was reviewed and approved for Brunswick Exploration by Mr. Simon T. Hebert, Registered Professional Geologist in Quebec and a Qualified Person as defined by National Instrument 43-101.

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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5aaa72e1-8ffb-48f2-b422-04a1544d1ed6

https://www.globenewswire.com/NewsRoom/AttachmentNg/510abee2-7acf-4e4d-9461-37e0ffdd19b2

Figure 1

Surface map of the till program and location of new spodumene boulders

Figure 2

New angular boulder discovered in latest prospecting program