Emperor Metals Selects Targets for drilling on Globex’s optioned Duquesne West property

ROUYN-NORANDA, May 05, 2023 - 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. (AUOZ: CE) has selected drill targets at, the 50% owned by Globex, Duquesne West Gold Property in Duparquet township, Quebec under option as announced in the Globex press release dated October 12, 2022.

According to yesterday's Emperor press release, "In addition to obtaining the previously announced land use permit and securing a reliable drilling contractor, we have accomplished a significant milestone by completing the first-ever A.I. 3D geological model for Duquesne West. This breakthrough has enabled us to accurately identify and finalize preliminary targets for our upcoming drilling campaign. By combining this model with the mineralized model and our geological model, we now have a more comprehensive understanding of the factors that influence high-grade mineralization. We are thrilled to commence the drilling campaign and expand our resource base on multiple priority targets that A.I. has illuminated."

"To further enhance our flexibility and execution capability based on this newfound understanding, we have submitted an application for an additional permit to develop up to 46 more drilling pads."

"Emperor has now appended to the existing Artificial Intelligence (A.I.) Model by incorporating a newly developed A.I. 3D Geological Model into our previous A.I. Mineralized Model. By developing both a mineralized and geological model using A.I., it has illuminated a plethora of targets to expand the existing historical resource^1,2. These models were swiftly developed compared to conventional techniques due to A.I. agility to process complex information. This efficiency promotes the project quickly and gives us a more holistic understanding of drillhole design for resource expansion; by illuminating potential patterns for resource expansion targeting high-grade zones."

"Targets chosen for our initial drill program will be strategic. It will target areas to expand the historical resources within and outside the existing footprint of the current deposit at varying depths; to efficiently add more ounces to the existing historical resource. This 7,000 to 10,000 m drilling program will begin around Mid-May as contractors are now in the field developing drill pads for the upcoming drilling campaign."

Globex is pleased with the rapid advancement of the planned drill program and looks forward to Emperor expanding the resource base which currently stands at 727,000 oz. Au (cut). The Ni 43-101 report is available on Globex's website. The property straddles the prolific Destor Porcupine gold localizing fault structure on which numerous gold deposits are located both in Quebec and Ontario.

Figure 1 - Phase 1 Targeting

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.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/948c8b8e-2892-4975-8e24-99c71c7cb259