GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) wishes to
welcome Agnico Eagle Mines Ltd. and Yamana Gold Inc. as exploration partners on
the Wood Pandora project in Cadillac Township, Quebec.


The Wood Pandora project covers 4 km of the gold localizing Cadillac Break and
includes the historical Central Cadillac, Wood and Pandora #3 gold deposits as
well as the Ironwood Gold deposit (243,200 tonnes of inferred resource grading
17.26 g/t Au, see press release dated March 3rd, 2008 and technical report filed
on SEDAR March 19th, 2008). Globex owns 50% interest in the project and is
project manager. Currently, we are initiating a new surface exploration program
consisting of rock sampling of all outcrop exposures on the 751 hectare property
as well as a review and update of historical drill data in order to assess the
properties' potential for outlining a large tonnage, low grade gold deposit
similar to the huge Malartic Gold Mine. Previous work was directed toward deep
exploration looking for a gold deposit similar to the neighboring Lapa Gold
Mine. Numerous high-grade gold intersections have been intersected as reported
in Company press releases. Previous surface exploration resulted in the
discovery of the Ironwood Gold deposit on a structure north of and separate from
the Cadillac Break.


Previously Osisko Mines announced that as part of the purchase of Osisko Mines
by Yamana and Agnico Eagle, the new company, Osisko Gold Royalties Ltd. would
retain a two percent (2%) net smelter royalty on the Wood Pandora Property. The
Joint Venture Agreement, originally signed with Queenston Mining Inc. and
assumed by Osisko Mines in 2012, does not allow for the issuance of royalties to
third parties. Upon further review of the agreement, it was resolved no
additional royalty will be imposed. 


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.




We Seek Safe Harbour.              Foreign Private Issuer 12g3 - 2(b) 
                                   CUSIP Number 379900 50 9           



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


40,793,755 shares issued and outstanding

FOR FURTHER INFORMATION PLEASE CONTACT: 
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com

Globex Mining Enterprises (TSX:GMX)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Globex Mining Enterprises Charts.
Globex Mining Enterprises (TSX:GMX)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Globex Mining Enterprises Charts.