Globex Acquires Two More Highly Prospective Gold Properties

Core Viewpoint - Globex Mining Enterprises Inc. has acquired two gold projects from IAMGOLD Corporation, enhancing its gold asset portfolio in Quebec without any cash or shares being issued in the transaction [1]. Summary by Sections Acquisition Details - Globex acquired the Eldrich Gold Mine and the Porcupine West Gold property in exchange for its Rich Lake and Lac à l'Eau Jaune properties, retaining a 1% Net Smelter Royalty on the traded properties [1]. - The acquisition increases Globex's royalty portfolio to a total of 105 royalties [1]. Eldrich Gold Mine - The Eldrich Gold Mine is located 14 km northwest of Rouyn-Noranda, covering 235.55 hectares with historical production of 652,400 tonnes grading 4.8 g/t Au, yielding 100,679 ounces of gold between 1955 and 1962 [2]. - A historical resource of 1,433,100 tonnes grading 5.3 g/t Au (244,195 ounces) was reported in 1987, with remaining resources of 213,317 tonnes grading 5.8 g/t Au (39,788 ounces) [2]. - Historical drilling has shown significant potential for further exploration, with notable intersections of gold grades reported [2][3]. Porcupine West Property - The Porcupine West property consists of 89 claims totaling 4,711.27 hectares, covering over 14 kilometers along the gold-localizing Porcupine-Destor Break [4]. - A total of 355 drill holes have been completed on the property, with an average hole length of 270 meters [5]. - Gold mineralization has been encountered at various locations, with historical resources reported at 195,300 tonnes grading 5.2 g/t Au [7][8]. Exploration Potential - Both properties are considered to have significant untested potential, especially at depth and in structures related to the gold-localizing Porcupine-Destor Break [6][8]. - The acquisition strategically positions Globex between established gold mines, enhancing its exploration and development opportunities in the region [8].