Globex and Osisko Drilling Again at Wood-Pandora and Central-Cadillac

Globex and Osisko Drilling Again at Wood-Pandora and Central-Cadillac
  
 

ROUYN-NORANDA, QUEBEC--(Marketwired - Feb 24, 2014) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to announce the impending start-up of an additional deep drilling program on the Wood-Pandora and Central-Cadillac property located in Cadillac Township, Quebec in joint venture with Osisko Mining Corporation.

Phase one of the exploration will start shortly and will consist of a drill program of 4 holes totalling approximately 2,570 metres. The objective is to follow up on gold intersections and significant structures encountered in previous drill programs in 2012 and 2013. A summary of some of the most significant 2013 drill results is given below.

Property	DDH	From (m)	To (m)	Core Length (m)	Au (g/t)
Central Cadillac	CC-13-001 including	177.56 435.67 463.50 483.00 484.50	180.50 437.23 465.00 490.56 489.00	2.94 1.56 1.50 7.56 4.50	3.53 9.74 3.37 3.76 5.88
Central Cadillac	CC-13-002	202.56	204.00	1.44	3.03
Central Cadillac	CC-13-003	673.50	676.50	3.00	4.38
Central Cadillac	CC-13-004 including	328.55 337.60	338.30 338.30	9.75 0.70	3.84 47.94
Central Cadillac	CC-13-005	75.15	75.90	0.75	22.90
Central Cadillac	CC-13-006 including including	335.00 342.00 363.35 363.35 370.00	336.50 343.00 374.00 365.50 372.50	1.50 1.00 10.65 2.15 2.50	13.78 5.78 4.84 17.23 5.18
Central Cadillac	CC-13-008	415.17 461.00 629.00 880.70	416.50 463.00 630.50 881.50	1.33 2.00 1.50 0.80	4.15 6.45 3.70 7.61
Pandora-Wood	W13-101	356.10 390.23	357.11 394.50	1.01 4.27	5.31 6.40
Pandora-Wood	W13-103	610.10	612.00	1.90	29.14
Pandora-Wood	W13-105B	593.78	597.50	3.72	2.03
Pandora-Wood	W13-106	573.00 575.05 587.68	575.75 575.75 588.33	2.75 0.70 0.65	15.59 60.11 158.54
Pandora-Wood	W13-107 including including	408.70 408.70 416.50	420.50 412.00 420.50	11.80 3.30 4.00	15.10 47.80 5.00
Pandora-Wood	W13-108	408.80 414.15 445.08	409.30 415.50 445.58	0.50 1.35 0.50	9.81 6.10 4.05

True widths vary from roughly 50% to 80% of core length depending upon the core angle.

In addition, a comprehensive program of surface sampling will be undertaken this summer in order to explore for potential areas of wide, low grade gold mineralization. Staff will analyse shallow historical drill data along the main mine horizon to identify areas of near surface potential.

All samples were delivered to Expert Laboratories Inc., located at 127 Boulevard Industriel, Rouyn- Noranda, Québec. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed to pass a -100 mesh screen. A 300-gram subsample was taken for pulverization to a nominal -200 mesh with the remaining crushed rejects being retained.

Gold Assaying

A 29.166-gram sub-sample of this pulp (1 assay-ton) was taken and was fused following the standard procedures used in a fire assay method. The gold content of all samples was determined using Atomic Absorption Spectroscopy (Method Code: Au FA-GEO, lower detection limit 5 ppb). Any samples found to contain greater than 1 g/t Au were subjected to a re-assay, whereby the gold content was determined using a gravimetric fire assay method.

Globex is the project manager.

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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Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining Enterprises [e-mail]