Progress Toward Production at Globex's Bell Mountain Nevada Royalty Property

Executive Summary

• Globex Mining Enterprises Inc. reports that Lincoln Gold Mining Inc. has fully permitted the Bell Mountain gold-silver project in Nevada and is currently arranging construction financing.
• The project is targeting first production and cash flow in 2027, with an estimated construction timeline of 8-10 months and capital costs of US$25-$30 million plus bond requirements.
• An updated NI 43-101 PEA outlines a Measured and Indicated resource of 45,832 gold equivalent ounces and an Inferred resource of 27,147 gold equivalent ounces across four zones, with significant remaining exploration upside.

Key Details

• Project Status & Permits: Bell Mountain project is fully permitted and at the construction financing stage. All mineral claims, water pollution control permits, BLM plan of operations, core mineral tenure, and principal operational permits have been consolidated.
• Globex Interest: Globex holds a 3% Gross Metal Royalty (3% GMR) on the project.
• Acquisition & Planning: Lincoln finalized the Bell Mountain acquisition on January 6, 2025, completed an updated Preliminary Economic Assessment (PEA), and prepared a six-month financial plan for Stage 1 development.
• Construction Economics & Timeline: Estimated construction costs range from US$25-$30 million, plus bond requirements. Construction is projected to take 8-10 months.
• Resource Estimates (NI 43-101 PEA, effective July 23, 2024 / reporting date Jan 6, 2025):
• Potentially open pit minable Measured & Indicated: 45,832 gold equivalent ounces.
• Inferred: 27,147 gold equivalent ounces.
• Covers four zones: Spurr, Varga, Sphinx, and East Ridge.
• Price assumptions used in calculations: Gold US $1,950/oz and Silver US $24.00/oz (release notes current market prices are significantly higher).
• Qualified Person & Technical Report: Randall K. Martin, SME-RM (Mineral Modeler/Mine Planner, consultant for Welsh Hagen Associates) prepared the resource estimate. The full NI 43-101 Technical Report is available on Sedar.
• 2026-2027 Work Plan: Finalizing operational pace, securing construction financing, commencing earthworks and plant construction, with first production and cash flow targeted for 2027.