ROUYN-NORANDA, Quebec, June 25, 2025 (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 it has received the final three million dollars ($3,000,000) payment from Agnico Eagle Mines Limited (TSX-AEM) as regards the purchase of the large Francoeur/Arntfield/Lac Fortune Gold Mines Property in Dasserat and Beauchastel Townships, west of Rouyn-Noranda, Quebec. Globex retains a 2% Gross Metal Royalty on all production from the property.
In addition, Globex received a $50,000 annual advance royalty payment from Renforth Resources Inc. (RFR-CSE) as regards the Parbec Gold Property located in Malartic Township, approximately 6km northwest of the large open pit Canadian Malartic Gold Mines. The Parbec property straddles the gold localizing Cadillac Break. Renforth reported in a NI 43-101 press release dated April 7, 2025, a Measured and Indicated Resource of 9.61 MT grading 0.86 g/t Au and an Inferred Resource of 2.55 MT grading 1.18g/t Au. (Technical Report on the Mineral Resource Estimate Updated for the Parbec Gold Deposit, Abitibi-Temiscamingue Region, Quebec, Canada by Yann Camus, P.Eng. of SGS Canada-Geological Services dated May 22, 2025). Globex retains a 3% Gross Metal Royalty (GMR) on the property.
Also, Manganese X Energy Corp. (TSX-MN) delivered an annual $20,000 advance royalty payment to Globex as regards the Battery Hill Manganese deposit located near Woodstock, New Brunswick. On September 9, 2021, Manganese X reported a Measured and Indicated Resource of 34.86 million tonnes grading 6.42% Mn, plus an additional 25.91 million tonnes grading 6.66% Mn. (NI 43-101 Technical Report, Battery Hill Project, Mineral Resource Estimate, Woodstock Area, New Brunswick, Canada, by Paul Ténière, P. Geo., Matthew Harrington, P. Geo., Douglas Warkentin, P.Eng., Lawrence Elgert, P. Eng. Of Mercator Geological Services, dated June 18, 2021.)Globex retains a 1% Gross Metal Royalty and a large share ownership in Electric Royalties Ltd. (ELEC-TSXV) which retains a 2% Gross Metal Royalty (GMR) on the property.
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) |
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| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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 SEDARplus.ca
