More Progress by Orford on Optioned Globex Property

ROUYN-NORANDA, Quebec, Feb. 21, 2023 (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 drilling by Orford Mining (ORM-TSXV) that has reported the first drill results from two holes of their 10-hole drill program on the large Joutel Eagle property under option from Globex.

The drill holes focused on the South Gold Zone intersected the following:

David Christie, President and CEO of Orford commented "These early results from our second drill program have returned results that are extremely encouraging. The South Gold zone was known as a thick low-grade zone with good potential but is now proven to have a much higher-grade component. We look forward to completing the planned drill program designed to test the strike extent of the South Gold Zone on the Joutel Eagle Property."

"23-JE-004 and 23-JE-005 were the first two drill holes of 10, completed as part of the 2,000 metre, 2023 drill program to test the strike of the South Gold Zone on the Joutel Eagle Property. Results reported in this news release are for samples that were sent for analysis on "rush" all other remaining assays are outstanding and drilling is ongoing. Interpretation of the historical and present South Gold Zone drill results is ongoing and will be completed once all assays from the 2023 drill program have been received."

The Entire Orford press release may be accessed by clicking here.

Globex is very pleased by Orford's progress on our Joutel Eagle Property and looks forward to results from the continuing drill program.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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.