Increased Resource at Globex’s Parbec Royalty Property

/EIN News/ -- ROUYN-NORANDA, Quebec, April 09, 2025 (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 inform shareholders that Renforth Resources Inc. (RFR-CSE, RFHRF-OTC, 9RR-FSE) has reported a 29% increase in the gold resource at Globex’s 3% Gross Metal Royalty Parbec Gold Deposit property in a press release dated April 7, 2025. It is important to note that 12% of the new mineral resource estimate is in the Measured category and 61% is in the Indicated category, demonstrating a greater confidence in the resource located in Malartic Township on the gold localizing Cadillac Break, approximately 4.8 km west-northwest of the large Canadian Malartic Gold Mine open pit and adjoining the East Amphi Gold deposit at its east boundary.

Details as announced by Renforth are the following:

April 2025 Parbec Gold Deposit MRE

(1) Mineral Resources are reported at a cut-off grade of 0.27 g/t Au for the open-pit mining scenario and 1.40 g/t Au for the underground mining scenario
(2) The cut-off grades were determined at a gold price of 2,100 US$ per ounce.
(3) The mineral resources were estimated in compliance with Canadian Institute of Mining, Metallurgy and Petroleum standards. These mineral resources were reported in accordance with the NI 43-101 standards.
(4) Mineral resources do not constitute mineral reserves because they have not demonstrated economic viability.
(5) Inferred resources are exclusive of measured and indicated resources.
(6) The effective date of these mineral resources is April 4, 2025.
(7) Assumptions used are a mining recovery of 95%, a mining dilution of 5%, processing recovery of 95%, processing cost of 12.75 US$/t, general and administration of 1.50 US$/t, open-pit mining cost of 2.5 US$/t for ore, 2 US$/t for waste and underground mining cost of 66 US$/t.
(8) All resources are presented in-situ and undiluted.
(9) All $ values are in US$ unless specifically noted.
(10) All figures are rounded to reflect the relative accuracy of the estimate. Numbers may not add due to rounding.

Further details regarding the 2025 mineral resource estimate, key assumptions, parameters and methods used to estimate the mineral resources of the Parbec Deposit will be available on SEDAR Plus (www.sedarplus.ca) under the Renforth issuer profile within 45 days in accordance with NI 43-101.

Yann Camus P.Eng. of SGS Canada Inc., per Renforth is the independent qualified person responsible for the technical information about the resource estimate presented in this news release, as defined by NI 43−101 Standards of Disclosure for Mineral Projects, including the verification of released data.

Parbec Longitudinal Section

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.

We Seek Safe Harbour.	Foreign Private Issuer 12g3 – 2(b)
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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 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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/3b889f03-a812-4cbd-ab53-d1020d3f9517

https://www.globenewswire.com/NewsRoom/AttachmentNg/773c1065-972d-4267-86c4-4f8b022c1c9b