Globex Expands Gem Hills Project; Synchrotron Analysis Reveals a Potentially New, High-Grade, Hydrothermal Ion-Absorption REE Deposit Class

Globex Mining Enterprises Inc. has expanded its Gem Hills Rare Earth Element project in Nevada by staking 12 additional claims, bringing the contiguous block to 20 unpatented lode claims covering 167.22 hectares. The company released details of advanced X-ray Diffraction analysis performed at the European Synchrotron Radiation Facility, which confirmed a hydrothermal-metasomatic ion-adsorption deposit model.

Key technical attributes of the project include a low-radioactivity profile and Heavy Rare Earth Element enrichment averaging 8% of total rare earth oxide content. The rare earth elements are hosted primarily in clay minerals, including nacrite, gibbsite, and nordstrandite, rather than traditional hard-rock minerals like bastnäsite. Management states these attributes de-risk early-stage exploration variables and position Gem Hills as a candidate for systematic advancement.

This announcement serves as a technical follow-up to the initial staking and sampling announcement from February 2026, which reported total rare earth oxide grades ranging from 0.28% to 5.26%, with an average of approximately 1.7%, and heavy rare earth enrichment up to 19%.

Globex Mining Enterprises Inc. (GMX) released an update on November 2 confirming the mineralogy and expanding claims for a rare earth element discovery first announced in February 2026. Synchrotron analysis validated the clay-hosted model and a low-radioactivity profile, characteristics that are technically favorable for processing and permitting. The update did not introduce new production targets, financial metrics, or capital raises.

The company’s stock has declined from a 52-week high of $2.86 in February 2026 to $2.00 in late October 2026. This price movement suggests the market has absorbed the initial discovery and is awaiting more definitive value-inflection steps, such as metallurgical testing, a scoping study, or financing. The news aligns with the company's stated exploration strategy.

Globex Mining Enterprises Inc. (GMX) operates a diversified royalty and option portfolio across North America, with a strategic focus on critical and precious metals. The company’s core assets include Gem Hills, a rare earth element project in Nevada; Berrigan, a zinc-gold-silver property in Quebec; Duquesne West, an gold-focused site in Quebec; Mont Sorcier, an iron project in Quebec; Bald Hill, an antimony property in New Brunswick; Parbec, a gold asset in Quebec; and Carp, a fluorspar mine in Nevada. Additionally, the portfolio holds several gold and antimony properties in Ontario and Quebec.

The business model relies on option agreements and gross metal royalties, typically ranging from 1% to 3% GMR/NSR. This structure transfers exploration risk to partners while allowing the company to retain upside participation. Globex Mining Enterprises currently has no producing mines and remains entirely in the exploration, resource definition, and feasibility study phase.