Globex Enters Option Agreement on its Ramp/Maude Lake Gold Property in Ontario

On May 12, 2026, Globex announced a four-year option agreement with a private Ontario company (1001565486 Ontario Inc.) on the RAMP/Maude Lake gold property in the Timmins area. The deal obligates the optionee to deliver C$4.7 million in cash, C$1.05 million in its own shares, and C$6.0 million in exploration expenditures. Globex will retain a 3% Gross Metal Royalty (GMR), with a one-time buydown to 2% available for C$1.5 million. Additional milestone cash payments are triggered if a resource exceeds 300 koz gold or cumulative production passes 100 koz, 250 koz, and 500 koz. Historical work on the property includes over 49,000 m of drilling and a non-NI 43‑101 resource of about 191,284 oz gold.

Context from prior releases:
- Earlier in the same week, Globex highlighted activity across its royalty portfolio – Antimony Resources commenced expansion drilling at Bald Hill (13,000 m Main Zone, 6,000 m new zones), Radisson reported deep high‑grade intercepts on Kewagama royalty claims, and Maple Gold delivered a 459 koz resource at Eagle where Globex holds a 2.5% GMR.
- The latest news builds on a consistent pattern of Globex optioning non‑core assets to third parties while retaining a royalty tail, exactly as it did with Virgin Mountain REE (Sept 2025), Golden Pike (May 2025), Bald Hill (Jan 2025), and numerous gold/antimony properties.

The RAMP/Maude Lake option is a routine transaction for Globex. It is not a game‑changer because:

• The cash consideration totals C$4.7 million paid over four years – notable but not transformative for a company with a financial portfolio of ~C$34.7 million (as of Sept 2025) and a market cap near C$127 million.
• The property’s historical resource (191 koz, non‑NI 43‑101) is early‑stage and does not yet represent a near‑term production asset.
• The structure mirrors dozens of other Globex deals (cash + shares + work commitment + royalty), so the market has come to expect such monetization events.
• No new major partner (e.g., strategic investor) is introduced; the optionee is a private company with no prior prominence.

That said, the news is positive because it:

• Generates contracted cash inflow and a future royalty stream at zero cost to Globex.
• Further validates the company’s “option‑generator” model.
• Continues the string of successes in 2025‑2026 where multiple partners advanced projects with active drilling (e.g., Bald Hill, Duquesne West, Berrigan, Kewagama).

Because the market was already aware of Globex’s vast property portfolio and its strategy to option assets, the deal is routine rather than materially new. I therefore classify it as Routine – Positive.

Globex Mining Enterprises is a Canadian mining royalty and option‑generation company. It acquires early‑stage mineral properties in Quebec, Ontario, New Brunswick, Nevada, and Arizona, then options or sells them to partners while retaining gross metal royalties (GMRs) or net smelter royalties (NSRs). This capital‑light model provides recurring cash, equity stakes, and future revenue streams without dilution or development risk.

While no single “flagship” dominates, the most advanced and potentially valuable royalties include: - O’Brien Gold Project (Kewagama claims): 2% NSR over ~22% of planned production (647 koz recovered per PEA); deep drilling by Radisson targets 3‑4 Moz Au.
- Bald Hill Antimony: Optioned to Antimony Resources; 3.5% GMR after earn‑in; maiden resource expected soon; antimony viewed as a critical mineral.
- Duquesne West Gold: 50% interest; inferred resource of 1.46 Moz Au (Emperor Metals).
- Mont Sorcier Iron: 1% GMR; feasibility study due Q2 2026.
- Lac Escale Lithium: 3% GMR; inferred resource of 52 Mt at 1.08% Li₂O (Brunswick Exploration).
- Parbec Gold: 3% GMR; measured & indicated 265.8 koz Au (Renforth).
- Ironwood Gold: 100% owned, indicated resource of 108.5 koz at 14.38 g/t Au.
- Numerous other precious, base, and critical‑mineral royalties (Berrigan Zn‑Au‑Ag, Eagle Au, Blackcliff Au, Virgin Mountain REE, Golden Pike Au‑Sb, and others).