Subject: ANALYSTS' COMMENTS
Multiple Intersections of +2% Li2O Reported at Globex's Lac Escale (Mirage) Royalty Property
ROUYN-NORANDA, Quebec, Dec. 19, 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 update shareholders on new assay results reported by Brunswick Exploration Inc. (BRW-TSXV, BRWXF-OTCQB) on Globex's Lac Escale (Mirage) lithium royalty property in the James Bay region of Quebec. As referenced in Globex's November 28, 2023 press release, Brunswick exercised the 5-year Lac Escale property option 11 months after entering into the agreement.
Brunswick has reported an additional 9 drill holes which extend the strike length of the Mirage lithium discovery (click to access previous press release) by 600 metres. Previous drilling intersected three mineralized zones, the North, Central and South Zones. Current reported assays are from the South Zone, MR-4 Dyke. (Click here to access today's Brunswick press release).
High-grade intercepts include:
| Hole Number | Core Length (m) | Li2O% |
| MR-23-26 | 10.6 m | 3.28% |
| MR-23-19 | 14.0 m | 2.92% |
| MR-23-16 | 13.4 m | 2.88% |
Most holes in the MR-4 dyke intersected high-grade Li2O values of over 2% Li2O.
The following are 11 reported intercepts of 13 holes in the South Zone for which assays are available. Two holes to the southwest did not intersect the MR-4 dyke but the presence of a thin mineralized dyke indicates that the South Zone remains open to the southwest.
Highlights from Maiden Drilling Program at MR-4 as reported by Brunswick Exploration
| Hole ID | Zone | Dyke | From (m) | To (m) | Length (m) | Li2O% | Ta2O5 (ppm) |
| MR-23-13 | South | MR-4 | 25.3 | 35.7 | 10.4 | 1.45 | 171 |
| MR-23-14* | South | MR-4 | 46.5 | 62.7 | 16.2 | 2.75 | 98 |
| MR-23-15 | South | MR-4 | 91.3 | 104.7 | 15.7 | 2.09 | 49 |
| MR-23-16 | South | MR-4 | 95.9 | 109.3 | 13.4 | 2.88 | 86 |
| MR-23-17 | South | MR-4 | 76.0 | 90.1 | 14.1 | 2.24 | 65 |
| MR-23-18 | South | MR-4 | 87.8 | 100.1 | 12.3 | 2.06 | 112 |
| MR-23-19 | South | MR-4 | 68.1 | 82.1 | 14.0 | 2.92 | 70 |
| MR-23-20 | South | MR-4 | 76.9 | 84.4 | 7.5 | 1.55 | 97 |
| MR-23-21 | South | MR-4A | 70.9 | 73.0 | 2.1 | 2.23 | 83 |
| MR-23-25 | South | MR-4 | 44.7 | 53.6 | 9.0 | 2.57 | 77 |
| MR-23-26 | South | MR-4 | 49.9 | 60.4 | 10.6 | 3.28 | 166 |
* Previously reported
True widths are estimated as 95% of reported core lengths. Assays are pending for an additional 10 drill holes.
Brunswick have indicated that they intend to undertake an additional 15,000 metres of drilling in their next exploration 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.
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| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 [email protected] 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 SEDAR at www.sedar.com.
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