Grab Samples Grade Up To 13.06 g/t Au at Francoeur/Arntfield; All Directors Re-Appointed and Resolutions Approved
ROUYN-NORANDA, QUEBEC--(Marketwired - Jun 1, 2017) - Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(TRADEGATE:G1MN)(LANG & SCHWARZ:G1MN)(OTCQX:GLBXF).
On May 30, 2017, Globex provided shareholders with our principal observations and conclusions from our initial review of Francoeur and Arntfield Gold Mine property data.
As indicated in the press release, field visits were undertaken to a number of outcrops areas directly east and approximately 220 m to 330 m along strike of the drill hole FS-16-35 shallow gold intersection of 1.19 g/t Au over 40.19 m reported in a press release of January 25, 2017.
Two samples from an old trench found approximately 240 m east of our drill hole returned assays of 13.06 g/t Au and 1.68 g/t Au. Further to the east grab samples from various outcrops were for the most part anomalous in gold with individual assays of up to 4.08 gpt Au.
At the same time, Globex geologists located, 750 m southeast of our drill hole, an old trench partially exposed over a 20 m length which in grab samples returned the following assays as well as a number of highly anomalous values, 10.18 g/t Au, 10.15 g/t Au, 9.53 g/t Au, 6.79 g/t Au and 1.54 g/t Au. (Note: Grab samples are selective by nature and are unlikely to be representative of average grades.
These samples represent part of the surface expression and envelope of the Francoeur Number 1 gold zone which was selectively mined underground at a small scale in the late 30's early 40's. It is instructive that surface material with such high gold values was deemed not worth following up upon and mining and demonstrates the potential of exploring for a large tonnage low grade near surface gold deposit.
Globex has requested a permit to do three 100 m long trenches in the area of Globex's wide gold drill hole intersection. In addition, Globex will map, strip and channel sample large outcrop area to the east of the drill hole where grade samples returned numerous signification gold assays. Globex has also initiated preliminary surface visits to areas along the Francoeur-Wasa shear zone where historical trenching and surface sampling has indicated gold values as demonstrated in this press release.
Globex is also pleased to announce that all of the nominees listed in its management proxy circular dated April 21, 2017 were re-elected as directors at Globex's annual and special meeting of shareholders held yesterday in Rouyn-Noranda.
At the meeting, a ballot was conducted for the election of directors. The following individuals were re-elected as directors of Globex, with the following results:
| Name of Nominee | Votes for | % | Votes Withheld | % |
| Jack Stoch | 11,243,913 | 99.95 | 5,900 | 0.05 |
| Dianne Stoch | 11,244,863 | 99.96 | 4,950 | 0.04 |
| Chris Bryan | 11,238,413 | 99.90 | 11,400 | 0.10 |
| Ian Atkinson | 11,204,913 | 99.60 | 44,900 | 0.40 |
| Johannes H C van Hoof | 11,244,913 | 99.96 | 4,900 | 0.04 |
Director biographies are available in the Management section of Globex's website at www.globexmining.com.
At the meeting, Globex's shareholders also adopted a resolution ratifying and approving Globex's Amended and Restated Shareholder Rights Plan, as required by the Toronto Stock Exchange. Shareholders also re-appointed Deloitte LLP, Chartered Professional Accountants as Globex's auditor.
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