TORONTO, March 19, 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 shareholders with an update on recent work undertaken by Lodestar Minerals Limited (LSR-ASX) on the Virgin Mountain Rare Earth Property located in Arizona, under option from Globex, as reported by Lodestar in a press release dated March 18, 2026.
On February 23, 2026, Lodestar reported assay results from chip samples taken over the primary structural trend. Five of the samples assayed as follows:
| Sample # | TREO | Contained HREO | Nd / Pr |
| CA050 | 3.73% | 48% | 17% |
| CA052 | 1.81% | 58% | 14% |
| CA049 | 1.67% | 62% | 13% |
| CA053 | 1.41% | 64% | 12% |
| CA051 | 1.00% | 50% | 16% |
Note: Nd = Neodymium, Pr = Praseodymium.
Samples were examined using a Scanning Electron Microscope (SEM) at the Centre for Advanced Microscopy (CAM) at the Australian National University. The machine at CAM is equipped with EDS and EBSD systems for elements and crystallographic analysis.
Xenotime has now been confirmed as the dominant REE-bearing mineral, confirming heavy rare earth potential for the Virgin Mountain REE Project.
Per Lodestar, "The identification of xenotime is significant as it contains a high proportion of high value HREE's (dysprosium, terbium and lutetium), all three of which have been repeatedly identified by agencies in the USA as critically undersupplied with severe exposure to foreign supply." These elements are required for EV motors, wind turbines, defence systems, guidance systems, radar technology, advanced military electronics, and nuclear reactors.
"The samples with confirmed xenotime are from a mineralized shear zone within a mapped, 5 km-long structure, hosted by Paleoproterozoic gneiss."
The following pie chart displays the average REO distribution for all Lodestar Resources samples with TREO > 1%.
Pie Chart displaying average REO distribution for all Lodestar Resources samples with TREO > 1%
The Lodestar March 18, 2026 press release outlining assay results, their significance and future plans, may be accessed by clicking here.
Globex announced the optioning of the Virgin Mountain Rare Earth property to Lodestar on September 29, 2025 which may be accessed by clicking here.
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.
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| 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.
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