Globex Intersects Wide Zones of Manganese and Iron at its Woodstock New Brunswick Property

ROUYN-NORANDA, QUEBEC, CANADA -- (Marketwire) -- 10/12/11 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX: GLBXF) is pleased to provide shareholders with the assay results of two drill holes, undertaken on our manganese-iron property near Woodstock, New Brunswick.

Two holes were drilled back to back, due to the physical characteristics of the topography and access issues. The first hole GNB11-2 was drilled at 110 degrees for a length of 320 meters. The second hole GNB11-3 was collared approximately 2 meters behind GNB11-2 and drilled in the opposite direction of 290 degrees for a length of 57 meters.

The assays show four wide zones totalling 116.54 m (382.35 ft) of manganese (Mn) and iron (Fe) mineralization as indicated below:

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A Horizon     19.24 m (63.12 ft) grading 10.18% Mn and 15.48% Fe  Hole
                                                                  GNB11-2
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B Horizon     19.92 m (65.35 ft) grading 11.17% Mn and 16.75% Fe  Hole
                                                                  GNB11-2
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C Horizon     20.72 m (67.98 ft) grading 10.45% Mn and 12.51% Fe  Hole
                                                                  GNB11-2
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B C Horizons  48.3 m (158.46 ft) grading 9.80% Mn and 13.90% Fe   Hole
(i)                                                               GNB11-2
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D Horizon(ii) 49.0 m (160.76 ft) grading 8.70% Mn and 11.76% Fe   Hole
                                                                  GNB11-3
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(i) Includes lower grade material between the B and C Horizons.
(ii) Hole GNB11-3 ended in mineralization grading 10.38% Mn and 12.88% Fe
and was stopped too early.

Samples between the various horizons also ran several percent Mn and up to 7 % Fe. The intersections above are core lengths. As one set of holes were drilled, the next series of holes will include holes beneath these holes in order to determine the true widths.

We are very pleased with these initial drill results as they confirm and expand upon the historical information available in government files which indicate that a sizable iron-manganese zone has been defined by surface work and limited shallow drilling. These holes were not drilled where historical information indicated the widest width but rather where access was readily available, to confirm the presence of the iron-manganese zone, and to provide geological data.

Globex also undertook some initial hydrometallurgical work on surface samples from the property. The limited data generated, indicated that high percentages of dissolution of the manganese can be achieved with no special precautions such as a reducing atmosphere.

Globex intends to undertake additional work on this property including extending hole GNB11-3 to completely traverse the D Horizon, undercutting the recently completed cross section in order to define the dip and true width of the horizons and lastly do additional cross sectional drilling to delineate some of the strike length of the zones. Magnetometer, VLF and gravity surveys will also be undertaken in order to map out the iron manganese horizons.

The samples were analyzed by Activation Laboratories Ltd. of Ancaster, Ontario by XRF, Whole Rock Analysis for 12 major oxide compounds including MnO and Fe2O3 as well as the LOI. Detection limits are about 0.01 wt % for most elements. Mn and Fe element concentrations were then calculated.

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

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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

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