Globex Option Partner Orford Advances Joutel Exploration
ROUYN-NORANDA, Dec. 02, 2022 - 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 inform shareholders that it has received the first-year anniversary option payment from Orford Mining Corp. (ORM-TSXV) consisting of $100,000 cash and, upon approval of the TSXV, Orford intends to issue 1,428,571 Orford Mining shares to Globex in regards to Orford's option of Globex's Eagle Northwest, Gagné and Valrennes claim packages totaling 191 claims (approx. 50 sq. km) in the Joutel Mining Camp (click to Globex's November 30, 2021 press release for option details).
Orford reports that they have completed a 718 line-km time-domain electromagnetic (TDEM) and magnetic survey over the entire property as well as a three-hole initial drill program on the "South Gold Zone". Orford have indicated that in January 2023 they will start a 2,000 metre, 10-hole drill program on the South Gold Zone and several regional targets.
Globex is very pleased with the pace and progress made by Orford and looks forward to the January drill program.
Globex has acquired a block of 18 claims, the Mistaouac NE Property, tying onto the on-strike extension of the Eagle Northwest claim block where Globex has identified several prospective drill targets.
This press release was written by Jack Stoch, 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 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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.
Photo accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cae48646-5bc4-414f-ac55-3fc48050ea35
https://www.globenewswire.com/NewsRoom/AttachmentNg/e56bd656-6970-470f-b06d-222d7c5419ce