Globex Closes Private Placement

ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 11/29/10 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX) (FRANKFURT: G1M) (OTCQX: GLBXF) is pleased to inform shareholders that it has completed a private placement by issuing 300,000 'flow-through' common shares at a price of $3.00 per share and 100,000 common shares at a price $2.50 per share to an investment fund of Toronto, Ontario, for gross proceeds to Globex of $1,150,000. No commission, warrants or broker's warrants were paid or issued as part of the financing.

The proceeds from the private placement will be used for exploration on Globex's projects in Quebec and for general purposes.

Under applicable securities legislation and the policies of the Toronto Stock Exchange, all of the foregoing common shares are subject to a hold period expiring on March 27, 2011.

We Seek Safe Harbour.                  Foreign Private Issuer 12g3 - 2(b)
                                                 CUSIP Number 379900 10 3

20,667,674 shares issued and outstanding

Contacts:

Globex Mining Enterprises Inc.

Jack Stoch, P.Geo., Acc.Dir.

President & CEO

819-797-5242

819-797-1470 (FAX)
info@globexmining.com
www.globexmining.com