Subject: MINING DRILLING RESULTS
Metallic Sieve Analysis Returns Higher Grades on Montalembert Gold Samples - Globex
ROUYN-NORANDA, QUEBEC--(Marketwired - March 31, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to report the results of metallic sieve analysis upon nine samples of gold bearing material from channel samples, on the Montalembert gold project.
The metallic sieve analysis was performed on nine samples which, in the fire assay method returned assays ranging from 1.58 g/t Au to 438.22 g/t Au. Seven of the nine channel samples returned assays higher than reporting to the standard fire assay method. This is typical in cases where coarse free gold occurs in the sample.
The following are the comparing assay results;
| Sample ID | Sample Type | Interval (m) | Original Assay - Gravity Finish | New Assay - Metallic Sieve | Difference |
| Au (g/t) | Au (g/t) | % | |||
| D110069 | Channel | 1 | 438.225 | 510.79 | 16.56% |
| D110059 | Channel | 1 | 119.935 | 118.79 | -0.95% |
| D109952 | Channel | 1 | 39.345 | 40.23 | 2.25% |
| D109955 | Channel | 1 | 8.88 | 11.13 | 25.34% |
| D110103 | Channel | 1 | 5.59 | 108.21 | 1835.78% |
| D109580 | Channel | 1 | 5.07 | 9.47 | 86.79% |
| D109891 | Channel | 1 | 4.56 | 4.28 | -6.14% |
| D110102 | Channel | 1 | 3.84 | 6.60 | 71.88% |
| D110122 | Channel | 1 | 1.58 | 1.81 | 14.56% |
The metallic sieve analysis was performed by Activation Laboratories Ltd. of Ancastor, Ontario and Laboratoire Expert Inc. of Rouyn-Noranda, Quebec.
Metallic sieve is able to overcome the "nugget effect" of gold by increasing the sub-sample size to 1,000g and physically collecting the free gold within the system using a 100-mesh sieve. The sub-sample is pulverized to ~90% -100 mesh and subsequently sieved through a 100 mesh (106?) screen. The entire +100 metallic portion is assayed along with two duplicate sub-samples of the -100-pulp portion. Results are reported as a weighted average of gold in the entire sample.
Globex's Montalembert gold project is under option to Enforcer Gold Corp. (TSX VENTURE:VEIN)(FRANKFURT:N071). See Globex press release dated November 17, 2016 for details of the option agreement and Enforcer's press release of March 30, 2017 for additional details as regards the metallic sieve assays.
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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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 SEDAR at www.sedar.com
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