Globex Acquires Two More Highly Prospective Gold Properties

ROUYN-NORANDA, Quebec, July 08, 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, through a transaction with IAMGOLD Corporation (“IAMGOLD”, IMG-TSX, IAG-NYSE), Globex has acquired two gold projects located in the Abitibi West area of Quebec. Globex has acquired the former Eldrich Gold Mine (also called Pierre Beauchemin Gold Mine) northwest of Rouyn-Noranda and the Porcupine West Gold property, west of the town of Duparquet, Quebec. The transaction saw Globex acquiring these two properties in exchange for Globex’s Rich Lake (base-metals) and Lac à l’Eau Jaune (gold) properties. Both Globex and IAMGOLD retain a one percent (1%) Net Smelter Royalty in their respective traded properties. The two additional royalties on Rich Lake and Lac à l’Eau Jaune bring Globex’s royalty portfolio total to 105. No cash or shares were issued as part of the transaction.

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