Mont Sorcier Project Making Good Progress

Core Insights - Globex Mining Enterprises Inc. holds a 1% Gross Metal Iron Royalty on the Mont Sorcier high purity iron deposit, with significant progress reported by Cerrado Gold on the project [1][2] Project Update - The Mont Sorcier project has completed an infill drilling program of over 17,000 metres to update resources to the Proven and Probable categories, with a feasibility study expected by Q2 2026 [2][3] - The Bankable Feasibility Study aims to provide an updated economic assessment, building on a previous 2022 Preliminary Economic Assessment (PEA) that indicated a project NPV8% of US$1.6 billion based on iron concentrates with 65% iron content [3] Product Quality and Market Demand - New test results indicate the potential to produce a high-purity Direct Reduced Iron (DRI) concentrate with over 67% iron, which aligns with the increasing demand for sustainable steel production methods [3][4] - The Mont Sorcier project is positioned to produce a premium iron concentrate at low operating costs, supporting the transition from traditional blast furnaces to electric arc furnaces, thus contributing to industry decarbonization [4]