GLOBEX
MINING ENTERPRISES INC. (TSX:GMX - News; FRANKFURT:G1M - News; OTCQX:GLBXF) is
pleased to inform shareholders that Selwyn Resources Ltd. has announced that
they have signed a Letter of Intent to purchase all shares of ScoZinc Limited which owns "the mine-mill complex
and extensive mineral claims package" known as the Gays River (Scotia
Mine) in Nova Scotia.
Of
importance to Globex, are the following statements
by Selwyn, "Selwyn plans to commence refurbishment of the mill and other
activities toward resumption of production in the first quarter of 2012"
and "Exploration drilling is planned to confirm the mineral inventory of
the Scotia Mine and provide data regarding potentially open pittable mineral potential in the Northeast and Getty
deposits."
On
September 12, 2008, Acadian Mining Corporation reported in a press release a
NI 43-101 Indicated and Measured Resource at a 2% Pb
+ Zn cut off grade of 4,010,000 tonnes grading
3.43% combined Pb and Zn and 860,000 tonnes grading 3.48% Pb and Zn
in the Inferred Category in the Getty deposit (Mercator Geological Services
Ltd.).
Globex
retains a 1% Gross Metal Royalty (GMR) on all mineral production from the
Getty Zinc/Lead deposit which will now be the subject to an extensive
exploration program to upgrade the classification of the mineral inventory in
order to better define an open pittable deposit to
provide feed for the mill.
Globex
is pleased with this development and looks forward to the potential start of
a royalty stream from this mine.
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 10 3
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
Contact:
Jack Stoch, P.Geo., Acc.Dir.
Globex Mining Enterprises Inc.
President & CEO
819-797-5242
819-797-1470 (FAX)
info@globexmining.com
www.globexmining.com
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