TORONTO, May 29, 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 report that Tomagold Corporation (LOT-TSXV, TOGOF-OTCPK) has provided an update as regards recent drilling on the Berrigan Mine claims in the Chibougamau area of Quebec. The Berrigan Mine claims and a large number of others are under option from Chibougamau Independent Mines Inc. Globex retains 2% Gross Metal royalty on all mineral production from the large package of claims.
Phase 1 drilling intersected the historical Berrigan Mine mineralization but also in two drill hole TOM-25-015 and Tom-25-014 intersected 5.08 ZnEq (1.19 g/t AuEq over 98.5 m including 23.20% ZnEq over 4.90 m from the new lower zone and 24.85% ZnEq (5.83 AuEq) over 2.1 m in the Berrigan zone and 13.68 ZnEq (3.17 g/t AuEq) over 1.4 m in the new lower zone respectively as previously reported by TomaGold. See "Notes" below for basis of grades calculations.
Table 1: Results from drill holes TOM-025-14 and TOM-025-15 on the Berrigan Mine project
| Hole ID | From (m) | To (m) | Length (m) | ZnEq (%) | AuEq (g/t) | Au (g/t) | Ag (g/t) | Cu (ppm) | Zn (ppm) |
| TOM- 25-014 | 185.00 | 187.10 | 2.10 | 28.69 | 6.73 | 4.94 | 56.44 | 545 | 45509 |
| 238.70 | 239.85 | 1.15 | 23.29 | 5.43 | 2.63 | 22.20 | 1590 | 104000 | |
| 251.20 | 252.60 | 1.40 | 41.79 | 9.80 | 7.44 | 37.30 | 552 | 80400 | |
| 405.30 | 406.70 | 1.40 | 14.99 | 3.48 | 1.13 | 13.15 | 655 | 92514 | |
| 423.30 | 426.30 | 3.00 | 2.34 | 0.54 | 0.07 | 5.45 | 493 | 15700 | |
| 451.50 | 457.50 | 6.00 | 1.34 | 0.31 | 0.08 | 3.45 | 77 | 7882 | |
| TOM- 25-015 | 132.55 | 141.00 | 8.45 | 4.22 | 0.99 | 0.51 | 5.51 | 338 | 16610 |
| 155.70 | 157.70 | 2.00 | 31.75 | 7.42 | 4.66 | 26.90 | 684 | 102850 | |
| 182.10 | 202.20 | 20.10 | 2.55 | 0.60 | 0.36 | 3.20 | 265 | 7687 | |
| 451.20 | 549.70 | 98.50 | 5.75 | 1.34 | 0.82 | 3.21 | 386 | 19751 | |
| including | 452.20 | 457.10 | 4.90 | 26.67 | 6.26 | 4.69 | 18.80 | 2897 | 47876 |
| and | |||||||||
| including | 500.35 | 549.70 | 49.35 | 7.26 | 1.69 | 0.90 | 3.48 | 310 | 31250 |
| Including | 521.00 | 535.60 | 14.60 | 10.26 | 2.39 | 1.34 | 5.91 | 420 | 41158 |
| Including | 537.85 | 541.10 | 3.25 | 9.94 | 2.31 | 0.88 | 3.85 | 529 | 58200 |
| Including | 542.00 | 548.20 | 6.20 | 14.82 | 3.45 | 1.63 | 5.26 | 511 | 74276 |
Notes: The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
Phase 2 drilling was focused upon extending 5 drill holes TOM-25-009 to TOM 25-013 inclusive in order to intersect the new zone as the previous drilling was focused upon the historical shallower mineralization. In TomaGold's press release dated May 28, 2026, Tomagold reports "The program, which focused on extending drill holes TOM-25-009 through TOM-25-013, was designed to test the core of modelled conductive plates at depth and evaluate the potential of the Berrigan Deep zone, discovered just before Christmas (see Figure below).
The Company is encouraged by the systematic mineralization observed in the recovered drill core. Holes TOM-25-009EXT and TOM-25-011EXT have been logged and cut, and the samples have been shipped to the laboratory; assay results for these holes are expected shortly. Holes TOM-25-010EXT, TOM-25-012EXT and TOM-25-013EXT are currently being logged and cut.
Concurrently, encouraged by these positive geological indicators, TomaGold is launching a large-scale ground prospecting and exploration campaign. The program will cover all of the strategic option properties acquired from Chibougamau Independent Mines, Globex and SOQUEM. This cohesive package of claims forms a true consolidated mining camp in the heart of the Chibougamau mining district. Several high-priority historical mineralized showings that have never been subject to rigorous follow-up work will be evaluated and sampled over the coming weeks.
In addition, in order to optimize the structural understanding of the area and map the continuity of mineralized zones at depth, the Company will soon initiate a borehole electromagnetic (BHEM) survey in drill holes TOM-25-010, TOM-25-012 and TOM-25-015 to detect off-hole conductors and identify potential deep extensions of mineralized zones already intersected by drilling. The Company also plans to conduct a large-scale surface geophysical (UTEM) survey over a corridor measuring approximately 4 km by 2 km to identify new regional conductors and prioritize high-potential drill targets along the area's main mineralized structures. Finally, an audio-frequency magnetotelluric (AMT) geophysical program is also planned to map deep resistivity contrasts, better define the district's structural architecture and identify corridors potentially associated with regional mineralized systems. Importantly, both the UTEM and AMT surveys have the capacity to investigate depths of up to 2 km, enabling the identification of major structural corridors and potential concealed massive sulphide lenses."
3D plan view showing drill holes TOM-25-009 to TOM-25-013 and their planned extensions (blue lines) targeting the modeled conductive plate at depth, along with significant intersections from holes TOM-25-014 and TOM-25-015 within the Berrigan Deep zone.
Notes:
- AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023), applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
- ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
Jack Stoch, P.Geo., Executive Chairman and CEO of Globex, in his capacity as a Qualified Person (Q.P.) under Ni 43-101, prepared the information that forms the basis of this written disclosure. The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 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.
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