Globex Update: Houlton-Woodstock Manganese Project
ROUYN-NORANDA, QUEBEC--(Marketwired - May 25, 2017) - Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(TRADEGATE:G1MN)(LANG & SCHWARZ:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that Manganese X Energy Corp. (TSX VENTURE:MN) (FRANKFURT:9SC2) (TRADEGATE:9SC2) (OTC PINK:SNCGF) will be starting their second drill program on the Houlton-Woodstock manganese property near Woodstock, New Brunswick. The drill program will total approximately 1,600 m on the Sharpe and Moody hill areas where previous drilling in 2016 intersected MnO grades such as 16.73% over 32.85 m (107.8 ft) and 13.89% over 52.6 m (172.5 ft).
In addition, core samples from previous drilling have been sent for laboratory scale leaching tests to determine manganese recovery and sulphuric acid consumption.
Under the agreement between Globex and Manganese X, Globex retains a 3% Gross Metal Royalty on all production. Globex recently received an additional stock payment of 1 million Manganese X shares per the agreement.
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 |
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
49,012,706 shares issued and outstanding
Contact
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470
info@globexmining.com
www.globexmining.com