Globex Announces New Polymetallic Intersections at Depth on its Berrigan Mine Royalty Claims

Globex Mining Enterprises Inc. (GMX) reported assay results from TOM-25-011EXT, the first of five extension holes drilled by TomaGold on the Berrigan Mine royalty claims, where Globex retains a 2% Gross Metal Royalty.

The hole intersected a 204.25 m envelope grading 2.05% ZnEq (0.48 g/t AuEq), including a high-grade pod of 2.40 m at 31.31% ZnEq (7.38 g/t AuEq).

This validates vertical continuity of the polymetallic hydrothermal system (Zn, Au, Ag, Cu) and confirms mineralization extends to depth.

Four additional extension holes also encountered consistent mineralization; assays are pending.

Downhole and surface geophysics are underway to guide deeper drilling.

Globex Mining Enterprises Inc. (GMX) released results confirming the continuity of the Berrigan Deep Zone, a development described as expected. The intersection measured 204.25 meters in width with an average grade of 2.05% ZnEq. While the width is notable, the grade is considered modest for a polymetallic system, with value concentrated in high-grade sub-intervals.

The announcement does not change the project's current stage, as there remains no resource estimate or development timeline. For a royalty holder, materiality typically requires substantial resource definition or a move toward production.

GMX shares had declined from $2.86 in February to $1.81 on the eve of the release, reflecting waning enthusiasm. The drill results may provide tactical support to the stock but are unlikely to re-rate the royalty.

Globex Mining Enterprises Inc. (GMX) is a Canadian project generator and royalty company managing a diversified portfolio of more than 200 properties, primarily located in Quebec and New Brunswick, with additional holdings in the United States. Key assets include a 2% GMR on the Berrigan zinc-gold-silver-copper project, operated by TomaGold; a 3% GMR on the Bald Hill antimony project, optioned to Antimony Resources Corp.; and a 1% GMR on the Mont Sorcier iron project, which is nearing the completion of its feasibility study. The company also holds a 50% interest in Duquesne West, a gold project with an inferred resource of 1.46 Moz, and a 2% NSR on the Kewagama gold claims, which are part of Radisson’s O’Brien project.

In addition to its royalty and option agreements that generate cash and share payments, Globex Mining Enterprises Inc. holds a portfolio of public equities, primarily consisting of producing gold miners, valued at approximately C$28.5 million.