Subject: MINING EXPLORATION UPDATE
Globex Mining Enterprises Inc.: Channel Sample Returns 3,310 g/t Gold at Montalembert
ROUYN-NORANDA, QUÉBEC--(Marketwired - July 26, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that Enforcer Gold Corp. (TSX VENTURE:VEIN)(FRANKFURT:N071) has announced (on July 26, 2017) assay results from two channel samples from the recently stripped northern extension of No. 2 Vein on the Montalembert property optioned from Globex by Enforcer.
Channel sample MCH 225702 which contains coarse visible gold and was reported in Enforcer's press release dated July 11, 2017 returned the following assay:
| Sample # | Gold (g/t) | Gold (oz/T) | Width (m) | Width (ft) |
| MCH 225702 | 3,310 | 96.65 | 1 | 3.28 |
| MCH 225703 | 1.93 | 0.05 | 1 | 3.28 |
| Channel Sample MCH 225703 was collected 20 m north of sample MCH 225702. See Enforcer press release for sampling and assaying details. | ||||
Enforcer stated "We are very encouraged by the early results that demonstrate the continuity of the No. 2 shear zone to the north of the historical exposure limit and to find high-grade pockets of mineralization along the 189 m length of the vein that is currently exposed. Diamond drilling has begun at Montalembert and this structure will be fully tested in the weeks ahead.
The No. 2 Vein is a north-south striking and steeply east-dipping shear zone that lies 80 m east of the sub-parallel Galena Vein. Prior to the 2017 field program, the No. 2 Vein was exposed over a strike length of 89 m. Enforcer increased the strike extent of the No. 2 Vein exposure by an additional 100 m for an overall current length of 189 m. The shear zone cuts variably chloritized, carbonatized and silicified basalt and feldspar porphyry. The zone hosts semi-continuous quartz veining and minor to 5% pyrite ± pyrrhotite, trace chalcopyrite and the galena and fine to coarse free gold."
Globex is pleased but not surprised that the continued stripping of the Montalembert No. 2 Vein structure has revealed a pocket of concentrated gold as occurs in the southern portion of the No.2 Vein and Galena Vein. Enforcer has a sizeable budget for the 2017 Montalembert exploration season of $2.2 million.
In other news, due to projected budget constraints, RJK Exploration Ltd. has terminated its option of Globex's Maude Lake (Ramp) property in Ontario. RJK is providing Globex with records of all the work undertaken to date.
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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