ROUYN-NORANDA, Quebec, July 10, 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 Radisson Mining Resources Inc. (RDS-TSXV, RMRDF-OTCQB) has announced in a July 9th 2025 press release, a positive Preliminary Economic Assessment (the PEA) for the O'Brien Gold Project located in the Abitibi region of Quebec, near the town of Cadillac. Of particular interest to Globex shareholders is the following information: "A 2% Net Smelter Royalty (NSR) is applied on gold production on certain claims on the eastern most portion of the property in favour of Globex Mining Enterprises Inc., covering 22% of the scheduled gold production." This is a reference to Globex's 2% NSR on the Kewagama Gold Mine property.
The Production Profile is a "11-year Mine Life with 740 Koz mined and 647 Koz recovered at 87% average recovery with a gravity-flotation-regrind-leach flowsheet and a 70 Koz/annum average steady-state gold production (years 2-8) at an average annual after-tax Free Cash Flow (FCF) of $97M. It is noteworthy that the PEA used a resource estimate from 2023 and considerable drilling with positive results was completed by Radisson since the 2023 resource update.
(Note: Koz = thousand ounces)
Shareholders are advised to access the Radisson press release which provides detailed technical data by clicking here.
Globex is pleased by the rapid project advancement by Radisson, especially as it affects potential revenue from Globex's Kewagama Royalty. The mineralized gold zones on the Kewagama royalty claims are open to depth and down plunge and as well eastward from the current Kewagama resource to the 100% Globex owned Central Cadillac Gold and Wood Gold Mines and Ironwood Gold deposit which has as reported by Globex on June 10, 2025, an Indicated Resource of 243,800t grading 14.38 g/t Au and Inferred Resource of 37,100t grading 7.22 g/t Au.
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.
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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.
