Globex Intersects 7.3% Cu, 7.27% Zn, 1.1 g/t Au, 51.8 g/t Ag over 3.0 Metres in Second Tier of Drilling at its Tonnancour Project, Quebec

Wednesday, 10 August 2011 14:28

Globex Mining Enterprises Inc. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF – OTCQX International) announce assay results from the second tier of drilling which examined the immediate down dip and lateral extension of the Tom Lake volcanogenic massive sulphide (VMS) occurrence on the Company’s wholly owned Tonnancour Property located 100 km NE of Val d’Or, Quebec.

A property wide program of 27 diamond holes initiated in late June 2011, is nearing completion with 25 of 27 holes now having been drilled. Assay results from the initial fourteen (14) drill holes were released by Globex on August 8, 2011. The present information reports on results from the subsequent six (6) holes in the Tom Lake mineralized area.

Hole GT‐11‐15 was collared to test the down dip extension of the high grade VMS mineralization encountered in the first hole of Globex’s drill program (5.23% Cu, 13.12% Zn, 0.72 g/t Au and 41.0 g/t Ag/ 4.55m) and intersected 7.3% Cu, 7.27% Zn, 1.11 g/t Au and 51.82 g/t Ag over 3.0 metres (core length) within a wider zone grading 5.02% Cu, 4.96% Zn, 0.75 g/t Au and 35.7 g/t Ag over 4.5 metres. True width is estimated to be 90‐95% of the intersection width.

Subsequent drill holes GT‐11‐16 to GT‐11‐20 were positioned to expand the search in the down dip direction and lateral extensions of the massive, semi‐massive and stringer sulphide mineralization presently traced along a strike length of approximately 200m.

The balance of the analytical results for the seven remaining drill holes will be released once received from the laboratory and fully integrated into the Tonnancour project dataset.

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