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Marketwired
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Globex and Osisko Drilling Again at Wood-Pandora and Central-Cadillac

ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 02/24/14 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX: GLBXF) is pleased to announce the impending start-up of an additional deep drilling program on the Wood-Pandora and Central-Cadillac property located in Cadillac Township, Quebec in joint venture with Osisko Mining Corporation.

Phase one of the exploration will start shortly and will consist of a drill program of 4 holes totalling approximately 2,570 metres. The objective is to follow up on gold intersections and significant structures encountered in previous drill programs in 2012 and 2013. A summary of some of the most significant 2013 drill results is given below.

----------------------------------------------------------------------------
                                                             Core
                                                           Length
Property                     DDH   From (m)     To (m)        (m)   Au (g/t)
----------------------------------------------------------------------------
                       CC-13-001     177.56     180.50       2.94       3.53
                                     435.67     437.23       1.56       9.74
                                     463.50     465.00       1.50       3.37
                                     483.00     490.56       7.56       3.76
Central Cadillac       including     484.50     489.00       4.50       5.88
----------------------------------------------------------------------------
Central Cadillac       CC-13-002     202.56     204.00       1.44       3.03
----------------------------------------------------------------------------
Central Cadillac       CC-13-003     673.50     676.50       3.00       4.38
----------------------------------------------------------------------------
                       CC-13-004     328.55     338.30       9.75       3.84
Central Cadillac       including     337.60     338.30       0.70      47.94
----------------------------------------------------------------------------
Central Cadillac       CC-13-005      75.15      75.90       0.75      22.90
----------------------------------------------------------------------------
                       CC-13-006     335.00     336.50       1.50      13.78
                                     342.00     343.00       1.00       5.78
                                     363.35     374.00      10.65       4.84
                       including     363.35     365.50       2.15      17.23
Central Cadillac       including     370.00     372.50       2.50       5.18
----------------------------------------------------------------------------
                       CC-13-008     415.17     416.50       1.33       4.15
                                     461.00     463.00       2.00       6.45
                                     629.00     630.50       1.50       3.70
Central Cadillac                     880.70     881.50       0.80       7.61
----------------------------------------------------------------------------
                         W13-101     356.10     357.11       1.01       5.31
Pandora-Wood                         390.23     394.50       4.27       6.40
----------------------------------------------------------------------------
Pandora-Wood             W13-103     610.10     612.00       1.90      29.14
----------------------------------------------------------------------------
Pandora-Wood            W13-105B     593.78     597.50       3.72       2.03
----------------------------------------------------------------------------
                         W13-106     573.00     575.75       2.75      15.59
                                     575.05     575.75       0.70      60.11
Pandora-Wood                         587.68     588.33       0.65     158.54
----------------------------------------------------------------------------
                         W13-107     408.70     420.50      11.80      15.10
                       including     408.70     412.00       3.30      47.80
Pandora-Wood           including     416.50     420.50       4.00       5.00
----------------------------------------------------------------------------
                         W13-108     408.80     409.30       0.50       9.81
                                     414.15     415.50       1.35       6.10
Pandora-Wood                         445.08     445.58       0.50       4.05
----------------------------------------------------------------------------

True widths vary from roughly 50% to 80% of core length depending upon the core angle.

In addition, a comprehensive program of surface sampling will be undertaken this summer in order to explore for potential areas of wide, low grade gold mineralization. Staff will analyse shallow historical drill data along the main mine horizon to identify areas of near surface potential.

All samples were delivered to Expert Laboratories Inc., located at 127 Boulevard Industriel, Rouyn- Noranda, Quebec. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed to pass a -100 mesh screen. A 300-gram subsample was taken for pulverization to a nominal -200 mesh with the remaining crushed rejects being retained.

Gold Assaying

A 29.166-gram sub-sample of this pulp (1 assay-ton) was taken and was fused following the standard procedures used in a fire assay method. The gold content of all samples was determined using Atomic Absorption Spectroscopy (Method Code: Au FA-GEO, lower detection limit 5 ppb). Any samples found to contain greater than 1 g/t Au were subjected to a re-assay, whereby the gold content was determined using a gravimetric fire assay method.

Globex is the project manager.

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.

33,536,612 shares issued and outstanding

We Seek Safe Harbour.                     Foreign Private Issuer 12g3 - 2(b)
                                                   CUSIP Number  379900 50 9

Contacts:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com

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