ROUYN-NORANDA, QUEBEC -- (Marketwired) -- 07/11/16 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(STUTTGART: G1M)(BERLIN: G1M)(MUNICH: G1M)(XETRA: G1M)(OTCQX: GLBXF) wishes to announce the purchase of a block of 69 claims located in Duverny Township, Quebec from the beneficiaries of the estate of Jean Roger Beauchemin. The claims adjoin both the Duvay Gold Property currently held by Secova Metals Corp. ("Secova") and the Fontana Gold Property under option to Tres-Or Resources Ltd. from Globex. Under the terms of the agreement, Globex paid $85,000 dollars in Globex shares (280,000 shares at time of signature), $15,000 in cash and reserved a 1.8% Net Smelter Royalty (NSR) to the estate purchasable at any time for $360,000.
Concurrently, Globex has sold the 69 claims to Secova for a cash payment of $136,500 (received), 1 million Secova shares (pending), a 1.5% Gross Metal Royalty payable to Globex and assumption of the 1.8% NSR obligation to the beneficiaries of the Beauchemin estate.
The 69 claims cover areas with significant gold potential.
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.
We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Number 379900 50 9
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
46,402,706 shares issued and outstanding
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
