TORONTO, Feb. 27, 2026 (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 Renforth Resources Inc. (RFR-CSE, RFHRF-OTC, 9RR-FSE) on Globex's Parbec gold royalty property located in Malartic township, Quebec.
The property straddles the gold localizing Cadillac Break and is approximately 6 km northwest of the large Canadian Malartic Gold Mine open pit. Globex retains a 3% Gross Metal Royalty on all production from the property. A NI 43-101 Technical Report indicates a Measured and Indicated Resource of 9.61 MT grading 0.86 g/t Au (265,800 oz. Au) and an Inferred Resource of 2.55 MT grading 1.18 g/t Au (97,000 oz. Au) (Technical Report on the Mineral Resources 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). The report may be accessed on Globex's web site or on Sedar.
Renforth is currently stripping an area approximately 325 m × 120 m in order to expose a portion of the Cadillac Break related gold deposit. Outcrop cleaning and channel sampling should start in April or as soon as the snow is gone. The stripping is expected to generate significant new structural and geological data to support Renforth's 2026 drill program and expose the surface within the targeted bulk sample area. The February 26, 2026 Renforth press release is available here.
Globex is pleased with the steady advancement of the project which in addition to open-pit potential already has underground access via a ramp up to the mineralized zone. The location of the deposit close to the Town of Malartic, infrastructure, skilled labour and supplies is a clear plus going forward.
Parbec 2025-2026 Stripping and Trenching Area
This press release was written by Jack Stoch, P. Geo., Executive Chairman 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 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. Executive Chairman & CEO Globex Mining Enterprises Inc. 120 Carlton Street, Unit 219 Toronto, Ontario, Canada M5A 4K2 | 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc619056-0010-43d5-b505-4de46d1977ff
