ROUYN-NORANDA, QUEBEC--(Marketwired - Aug. 22, 2016) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that Globex has optioned our Johan Beetz Feldspar Property located in Johan Beetz and Iles de Mingan 03 Townships, Quebec directly east of the town of Johan Beetz and between Havre St-Pierre, 60 km to the west and the Innu Community of Natashquan, 80 km to the east.
Under the agreement, Walmer Capital Corp. a capital pool company, upon exchange approval will pay Globex $50,000, 3 million Walmer shares and undertake a minimum of $1,000,000 in work over two years to earn 100% interest in the property subject to a 2% Gross Metal Royalty.
The Johan Beetz Feldspar Property includes an open pittable, historic, non-current under NI 43-101 regulations mineral resource (not reviewed by a Globex geologist or being considered by Globex as current) located directly on the north shore of the St. Lawrence River. A currently disused loading dock which extends into the river from the property was used in the 1950's by Spar-Mica Ltd. to facilitate bulk feldspar shipments. The property's location with direct river access is a significant advantage for the project as transport is a major cost to potential bulk feldspar buyers.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
|We Seek Safe Harbour.||Foreign Private Issuer 12g3 – 2(b)|
|CUSIP Number 379900 50 9|
Forward Looking Statements
Except for historical information, this news release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. ("Globex"). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com.
46,502,706 shares issued and outstanding