Globex’s Kewagama Gold Royalty Continues to Demonstrate Economic Potential

ROUYN-NORANDA, Quebec, May 09, 2024 (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) wishes to inform shareholders that Radisson Mining Resources Inc. (RDS-TSXV, RMRDF-OTCQB) has reported additional gold intersections on their O’Brien Gold Project, specifically on the Kewagama Gold Mine portion on which Globex Mining Enterprises Inc. holds a two percent (2%) Net Smelter Royalty (see Radisson’s press release here).

Gold intersections include the following were high-grade intersections:

	Hole OB-23-286:	4.00 m grading 9.70 g/t Au
	Hole OB-23-289:	4.50 m grading 6.54 g/t Au
	Hole OB-24-306:	4.00 m grading 6.40 g/t Au

Table 1: Trend 4 Drill Results summary - Radisson

DRILL HOLE	ZONE	FROM (m)	TO (m)	CORE Length (m)	AU (g/t) - Uncut	COMMENTS
OB-23-286	Trend #4
		291.00	337.70	45.70	1.11	Pontiac Sediments *VG
	Including	291.00	295.00	4.00	9.70	Pontiac Sediments *VG
	Which includes	292.00	293.00	1.00	37.70	Pontiac Sediments *VG
		332.10	334.50	2.40	3.32
OB-23-287	Trend #4
		56.30	59.00	2.70	4.73	Piché Group
OB-23-288	Trend #4
		331.10	360.00	28.90	0.70	Pontiac Sediments
	And	628.20	632.70	4.50	3.96	Piché Group
	Including	628.20	629.70	1.50	9.85	Piché Group
OB-23-289	Trend #4
		364.50	369.00	4.50	6.54	Piché Group
	Including	364.50	366.70	2.20	10.02	Piché Group
OB-23-305	Trend #4
		135.50	139.50	4.00	6.40	Pontiac Sediments *VG
	Including	135.50	136.50	1.00	20.40	Pontiac Sediments *VG
OB-24-306	Trend #4
		67.80	117.50	49.70	0.84	Pontiac Sediments *VG
	Including	67.80	76.00	8.20	3.97	Pontiac Sediments *VG
	Which includes	67.80	71.00	3.20	7.97	Pontiac Sediments *VG

VG= Visible Gold

In addition to the higher-grade intersections, drilling encountered wide zones of lower grade gold mineralization to the south in the Pontiac Sediments, including:

	Hole OB-23-286 :	45.70 m at 1.11 g/t Au
	Hole OB-23-288 :	28.90 m at 0.70 g/t Au
	Hole OB-24-306 :	49.70 m at 0.84 g/t Au

As a result of the previously unrecognized zones of gold mineralization in the Pontiac Sediments encountered in this drill program, twelve (12) historical drill holes will be sampled and assayed.

Table 2: Trend 4 broader intervals from historical holes summary - Radisson

DRILL HOLE	ZONE	FROM (m)	TO (m)	CORE Length (m)	AU (g/t)- Uncut	COMMENTS
RM-11-01	Trend #4
		57.50	97.00	39.50	1.21	Pontiac Sediments
OB-21-228	Trend #4
		160.00	197.10	37.10	1.08	Pontiac Sediments
OB-21-229	Trend #4
		140.20	165.00	24.80	1.04	Pontiac Sediments
OB-17-057	Trend #4
		147.50	166.00	18.50	0.92	Pontiac Sediments
OB-17-061	Trend #4
		163.60	194.90	31.30	0.52	Pontiac Sediments
OB-17-060	Trend #4
		195.60	206.00	10.40	0.68	Pontiac Sediments
OB-20-144	Trend #4
		30.30	45.00	14.70	0.53	Pontiac Sediments

Radisson has decided, based upon the good results from this and previous drilling in the Kewagama Gold Mine area, to add a second drill to their 22-hole, 11,808 m drill program.

Globex is pleased with Radisson’s continued success following gold Trends 3, 4 and 5 on the Kewagama property, starting from surface and Trend 2 to depth (see long sections and cross section below).

QA/QC

As per Radisson, all drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Mineralized zones containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program. 

Qualified Person

The (Q.P.) for Radisson as defined by NI 43-101 is Richard Nieminen, P.Geo. Radisson’s Q.P. reviewed and approved the technical content of their press release.

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)
	CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95
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.: [phone] Fax: [phone] [e-mail] 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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c71690c0-3be2-4a09 ...

https://www.globenewswire.com/NewsRoom/AttachmentNg/7297af13-0912-4f76 ...