ROUYN-NORANDA, Quebec, July 17, 2025 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, is pleased to highlight to shareholders the following update from Cerrado Gold Inc. as regards ongoing work at the Mont Sorcier Iron/vanadium project located in proximity of the town of Chibougamau, Quebec. In a press release of today’s date, Cerrado published the fol ...

Core Viewpoint - Globex Mining Enterprises Inc. highlights the ongoing developments at Cerrado Gold Inc.'s Mont Sorcier Iron/vanadium project, emphasizing the project's potential and the company's confidence in delivering high-purity iron ore concentrate to support the Green Steel transition [1][3]. Project Update - The Mont Sorcier project is undergoing detailed metallurgical test work and flow sheet design, with an infill drill program initiated to update resources to Proven and Probable categories for feasibility support [2]. - Assay results from the ongoing work are still pending [2]. Financial Insights - The Bankable Feasibility Study aims to provide detailed insights into the project's potential, building on the 2022 NI 43-101 Preliminary Economic Assessment which indicated a project NPV at 8% of US$1.6 billion based on iron concentrates with 65% iron content [3]. - Improved metallurgical results suggest the potential for a high purity Direct Reduced Iron (DRI) grade iron ore concentrate product exceeding 67% iron, which could enhance project value [3]. Royalty Information - Globex holds a 1% Gross Metal Royalty on iron production from the Mont Sorcier property, indicating a vested interest in the project's success [4].