GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased
to inform shareholders that it has completed a second larger series of tests on
samples of talc concentrate from our Timmins Talc Magnesite Project (TTM) in
order to test for the presence of asbestos. It is critical that talc samples
contain no asbestos. 


Thirty five (35) composite samples representing 1,679.7 metres of drill core
were submitted for testing. Each sample represented an average core length of 48
meters and an average horizontal core width of 30.8 meters. 


Each and every concentrate sample analysis indicated that no asbestos was
present. Very strict international standards are set for the presence of
asbestos contaminants in industrial products. Globex is very pleased that TTM
talc meets or exceeds these standards. The results confirm earlier test work by
Globex which also showed that no asbestos was present in TTM talc samples.


The test work was undertaken by Exova of Pointe-Claire, Quebec. Two types of
tests were undertaken, the first "Mineralogical Characterization of Fibres
(greater than 0.5 micrometers) by Transmission Electron Microscopy (TEM)" and
"Mineralogical Characterisation by Polarised Light Microscopy and Dispersion
Staining Colours".


In addition, 1,631 samples representing 4,453.7 meters of drill core from 51
drill holes and 2 drill hole extensions were submitted for whole rock or
litho-geochemical analysis, gold or base metal assay and/or detailed
mineralogical analysis by QuemScan. The results of these analyses have been
received and are being incorporated into our project data base. 


Other highlights: The price of zinc has been rising steadily, recently reaching
U.S. $1.04 per pound. This is good news for Globex as our zinc royalty on
Nyrstar's Mid-Tennessee Mine in Kentucky is tied to the zinc price. This rise in
price results in improved monthly royalty payments to Globex. At the current
zinc price, monthly payments should be in the range of $85,000 to $90,000.


Globex has requested permits to drill on several properties including our
Poirier Mine (zinc, copper, gold, silver), Champdore (rare earths bearing
carbonatite or diamondiferous kimberlite) and Tavernier Tiblemont (gold)
projects to name a few. Our drill programs will commence in the third quarter.


Assay results are being received from re-sampling of core on our Nordeau gold
property located east of Val d'Or, Quebec. Results will be incorporated into the
project data base generated by our previous option partner and analysed to
better understand the distribution and control of gold mineralization on the
property.


On the Wood Pandora project which Globex manages for the Globex/Yamana/Agnico
Eagle joint venture, we are awaiting final re-approval of the summer project of
mapping, sampling and compilation work from our new partners. Four widely
spaced, deep drill holes were completed and all assays have now been received.
All target gold bearing horizons were intersected. Widths were similar to those
intersected in previous drilling but gold assays were generally lower (ex. 5m
grading 2.47 g/t Au, 2m grading 2.97 g/t Au, 1m grading 5.1 g/t Au, 1m grading
4.88 g/t Au) as can occur when drilling free gold bearing horizons. Assays were
done by Techni-Lab of Ste-Germaine-Boule, Quebec utilizing the fire assay
method. 


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

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