Globex Announces Promising Hydrogen Initiative at Guigues Silica Project

ROUYN-NORANDA, Quebec, Sept. 11, 2024 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to share an unexpected and promising development regarding our Guigues Silica property, located near St-Bruno-de-Guigues, Quebec.

Originally acquired for its potential silica production capabilities, the Guigues property was intended to support our diverse portfolio of advanced silica projects. However, recent hydrogen exploration activities by Quebec Innovative Materials Corp. (QIMC-CSE, 7FJ-FSE) and the Institut National de la Recherche Scientifique (INRS) in the surrounding area have revealed significant hydrogen concentrations. Their latest announcement, dated September 4, 2024, highlights the discovery of hydrogen at levels exceeding 1,000 ppm—well above the instrumental detection limit. See map below.

Guigues Property Map

As this development is new and evolving, shareholders are encouraged to review the latest QIMC press release for detailed insights. With our property situated centrally within this burgeoning hydrogen exploration district, Globex is well-positioned to benefit from these exciting advancements. We will continue to monitor this situation closely and update our stakeholders as new information becomes available.

This announcement was prepared by Jack Stoch, P.Geo., President and CEO of Globex, who is a Qualified Person (Q.P.) under NI 43-101.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cec0570c-dd21-485e-9a04-2048dd91141b