Cash Option Renewal Payment Received for Duquesne West

ROUYN-NORANDA, Quebec, Dec. 24, 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) is pleased to report that Emperor Metals Inc. have paid Duparquet Assets Ltd. the second-year $500,000 cash portion of the Duquesne West option. The share payment portion of the second anniversary option payment will be made based upon the 20-day VWAP before the anniversary date which will be in January 2025.

Emperor has been undertaking extensive drilling and assaying of new and historical drill core in order to outline a potential open-pittable resource on the Duquesne West property.

Duparquet Assets Ltd. is a private corporation owned 50% by Globex and 50% by Jack Stoch Geoconsultants Ltd. Geoconsultants interest in the property dates back to before Jack Stoch’s involvement in Globex.

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.

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.

56,065,836 shares issued and outstanding