Globex Closes $1 Million Private Placement

ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 12/22/10 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX: GLBXF) is pleased to inform shareholders that it has completed a private placement by issuing 333,334 'flow-through' common shares at a price of $3.00 per share to one 'accredited Investor', for gross proceeds to Globex of $1 million. Globex will use the proceeds from the private placement for exploration on its projects in Quebec.

Globex did not pay any commission or issue any warrants or broker warrants in connection with the private placement.

Under applicable securities legislation and the policies of the Toronto Stock Exchange, the shares issued in the private placement are subject to a hold period expiring on April 23, 2011.

We Seek Safe Harbour.          Foreign Private Issuer 12g3 - 2(b)

                                         CUSIP Number 379900 10 3

21,018,008 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