Northwire Canada EditionThursday, October 15, 2026
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GOLD 4175.50 +1.6% SILVER 57.23 +2.4% COPPER 6.57 −1.4% OIL 97.43 +2.5% PALLADIUM 1134.25 +3.4% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.180 −16.3% CLCH 1.09 −0.9% NSU 0.170 +9.7% WM 0.085 +0.0% YGT 0.180 +5.9% EVI 0.520 +4.0% ADZ 0.125 +0.0% MINK 0.075 +0.0% DNO 0.300 +0.0% RRRL 0.150 +0.0% MTT 0.245 +0.0% BAU 0.180 −5.3% TECT 1.71 +3.0% TOM 0.140 +3.7% GOLD 4175.50 +1.6% SILVER 57.23 +2.4% COPPER 6.57 −1.4% OIL 97.43 +2.5% PALLADIUM 1134.25 +3.4% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.180 −16.3% CLCH 1.09 −0.9% NSU 0.170 +9.7% WM 0.085 +0.0% YGT 0.180 +5.9% EVI 0.520 +4.0% ADZ 0.125 +0.0% MINK 0.075 +0.0% DNO 0.300 +0.0% RRRL 0.150 +0.0% MTT 0.245 +0.0% BAU 0.180 −5.3% TECT 1.71 +3.0% TOM 0.140 +3.7%
Drill Results Neutral

TomaGold Continues to Intersect Wide Zones of Zinc, Gold and Silver on Globex Royalty Claims

Globex reports Berrigan drill holes intersecting half the anchor grade, while the company maintains its 2% royalty agreement unchanged.

Executive Summary

Globex Mining Enterprises Inc. (GMX) announced that its partner and operator, TomaGold Corporation (LOT-TSXV), has released results from the final three holes of a five-hole Phase 2 extension program at the Berrigan Mine Project in the western Chibougamau camp, Quebec. Globex holds a 2% Gross Metal Royalty on the claims and is not the operator of the project.

The new drill results include: - TOM-25-012EXT: 69.40 m grading 3.46% ZnEq (0.81 g/t AuEq) from 784.20 m to 853.6 m; including 40.1 m grading 5.38% ZnEq (1.25 g/t AuEq) from 784.0 m to 824.3 m - TOM-25-010EXT: 19.1 m grading 2.23% ZnEq (0.52 g/t AuEq) from 472.4 m to 491.5 m - TOM-25-013EXT: 7.0 m grading 2.21% ZnEq (0.52 g/t AuEq), including 28.25 g/t Ag from 631.5 m to 638.5 m

For context, prior Berrigan Deep Zone holes reported include: - TOM-25-015: 98.50 m at 5.08% ZnEq (1.19 g/t AuEq) from 451.20 m to 549.70 m, including 4.90 m at 23.20% ZnEq (5.44 g/t AuEq) - TOM-25-011EXT: 204.25 m at 2.05% ZnEq (0.48 g/t AuEq) from 553.90 m to 758.15 m, including 2.40 m at 31.31% ZnEq (7.38 g/t AuEq)

The five-hole Phase 2 program extended the Berrigan Deep Zone over 250 m of strike and 400 m vertically, with intersections reaching a vertical depth of nearly 900 m. Jack Stoch, P.Geo., is named as the Qualified Person for the release, which directs readers to TomaGold’s press release for individual assays and assay methodology.

Material Impact

Globex Mining Enterprises Inc. operates as a royalty and asset-portfolio company rather than an explorer, holding dozens of interests including the Mont Sorcier 1% GMR, Duquesne West 50% via Duparquet Assets, Parbec 3% GMR, Kewagama 2% NSR, Nordeau 3% GMR, Bald Hill antimony option, Lac Escale lithium 3% GMR, Bell Mountain 3% GMR, Vail Road, Salt Spring, Gem Hills/Virgin Mountain REE, and Carp fluorspar. The Berrigan project represents just one 2% GMR within this portfolio, operated by a micro-cap junior that currently has no resource, no study, and no mine.

Recent drilling confirmed that the deep zone extends 250 m along strike and 400 m vertically to approximately 900 m, with final holes returning lower grades than the discovery holes. However, there remains no resource, tonnage, metallurgy, economics, cash flow, or royalty revenue associated with the property. Consequently, the findings do not alter Globex's net asset value in any measurable way. The 2% gross metal royalty on an un-resourced, deeply-buried, low-grade zinc-dominant system operated by a micro-cap remains an option on a long-dated, low-probability outcome.

The relevant price anchor is TOM-25-015's 98.50 m at 5.08% ZnEq (500 %ZnEq·m), published on 2026-05-29, and TOM-25-011EXT's 204.25 m at 2.05% (418.7 %ZnEq·m), published on 2026-06-30. These anchors do not appear to be embedded in Globex's share price. GMX traded at C$1.50 on 2025-09-30, peaked at C$2.86 on 2026-02-13 driven by broader royalty, REE, and antimony news flow including releases from Gem Hills, Virgin Mountain, and Bald Hill, and sat at C$2.18 on 2026-09-29. This represents a mid-range position, having round-tripped roughly 24% from its high.

The results represent a partner's routine extension on one of many royalties, with headline grades below the zone's own best and below the deposit-type band on the outer envelope. There is no cutoff, true width, lab work, QA/QC, metallurgy, or resource defined. The findings confirm and deepen a system already known, constituting ordinary news flow for Globex.

GMX · Price
Company Overview

Globex Mining Enterprises Inc. (TSX: GMX; OTCQX: GLBXF) is a Toronto-headquartered mining royalty and asset-portfolio company. It holds a large book of gross metal royalties, net smelter returns, option agreements, and 100%-owned properties across Quebec, Ontario, New Brunswick, Arizona, Nevada, and elsewhere, with projects almost entirely advanced by third-party operators.

The company’s royalty and interest portfolio includes: - Mont Sorcier iron 1% GMR (Cerrado Gold) - Duquesne West gold 50% via Duparquet Assets (Emperor Metals option) - Parbec gold 3% GMR (Renforth) - Kewagama 2% NSR and O'Brien New Alger 1% GMR (Radisson) - Nordeau 3% GMR (Cartier) - Bell Mountain gold-silver 3% GMR (Lincoln Gold) - Berrigan Zn-Au-Ag 2% GMR (TomaGold) - Lac Escale lithium 3% GMR (Brunswick Exploration) - Eagle Gold 2.5% GMR (Maple Gold) - Bald Hill antimony option (Antimony Resources) - Golden Pike/Vail Road option (Albright/Bryah) - Carp fluorspar option (Evion) - Joutel NW/Gagne option (Edison Lithium) - RAMP/Maude Lake option - Virgin Mountain and Gem Hills REE

Globex also maintains 100%-owned exploration programs. These include the Wood/Central Cadillac gold project, featuring a 4,800-meter program with 11 holes and two rigs that commenced in August 2026; the Rouyn-Merger gold project, where four final holes were reported in January 2026, including 13.06 g/t Au over 4.7 m in RM-25-05; the Salt Spring gold project in Arizona involving trenching; and the Lyndhurst copper project.

According to prior-period context from Q2/Q3-2025 statements, Globex held C$8.87M in cash as of September 30, 2025. Total assets stood at C$38.9M, with total liabilities of C$0.13M and equity of C$38.8M. The book value per share was C$0.69, based on 56.09M shares outstanding. Revenue for the nine months ended September 30, 2025, was C$1.08M. Quarterly figures included C$90,000 in Q2-2026 and C$448,872 in Q3. Reported net income of C$4.81M for the nine months was not operating earnings; operating income was negative C$2.79M. Pretax income of C$4.83M was driven by non-operating items, including interest income of C$0.52M plus investment gains. Globex's profitability is mark-to-market, not operational.

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