High Grade at Globex’s Carp Fluorspar Property, Nevada

ROUYN-NORANDA, Quebec, May 15, 2025 (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 inform shareholders that it has acquired by staking a 100% interest in a contiguous claim block of 14 unpatented lode claims situated on the southern flank of the Clover Mountains in Lincoln County, southeastern Nevada, linearly 140 km northeast of Las Vegas. Each claim covers an area of 8.36 hectares, totaling a surface area of 117.06 ha. All are located on Bureau of Land Management (BLM) land outside of any conservation areas.

Fluorite was discovered on the property in 1957. Production of fluorspar from four open pits was initiated in early 1958. Total estimated production up to 1971 was 44,900 tons grading 69% CaF2. Previous work on the property consists of access roads, drill pads, bulldozer cuts, mapping, gravity and magnetic surveys and 62 vertical drill holes totalling 2,182 metres. Eight of the holes intersected near surface (at less than 10 metres) fluorite manto-style ore with grades ranging from 10% to 54.8% CaF2.

Globex undertook a mapping program in 2024 following up on the idea that the mineralization may be controlled by NW-SE trending regional structures and by a crosscutting short, N-S fault zone. Fluorite mineralization appears mostly as replacement of carbonate rock, but also as discordant steeply dipping veins/bodies along faults or attached to felsic dykes.

Globex’s geologist collected 25 samples from the Carp property and one about one kilometre northwest of the claim block. Fourteen samples returned very high fluorite grades ranging from 49.83% to 88.15% CaF2, three grading between 22.81% and 32.67% CaF2. Anomalous gold was also found in several samples and a sample of float containing barite-Ag-Pb-Zn probably coming from a sub-vertical mineralized carbonate replacement pipe-shaped body assayed 151.5 ppm AG, 0.28% Cu, 2.79% Pb and 8.64% Zn.

A condensed table of fluorite grades and selected lithogeochemical composition from Globex surface samples is shown in the table below.

Samples were shipped to American Assay Laboratories in Sparks, Nevada, USA. Samples were crushed, split and a 300g subsample pulverized to >85%-75 microns. For whole rock analysis + fluorine all powdered subsamples (0.5g) were fluxed with Li-borate/LiNO3 flux in automatic fusion equipment, fused in a PT/Au crucible at 1050 degrees Celsius. Loss of ignition (LOI) was determined (corresponds to weight loss of H2O, CO2 and carbon). The borate glass beads were analysed with Zetium wavelength dispersive X-ray fluorescence (WD-XRF) spectrometer.

Fluorspar uses:
Fluorspars predominate use is in the production of hydrofluoric acid which is the starting point for countless products such as toothpaste, mouthwash, computers, mobile phones, Gore-Tex jackets, Teflon pans, pesticides, brake pads, optical glass, refrigerants in air conditioning systems and refrigerators and much more. It also plays a significant role as a flux (slag maker) in the production of steel and light metals such as aluminum.

World production is 5.7 Mt to 6.0 Mt with China being the largest producer followed by Mexico, Mongolia, South Africa, Spain and Germany. The dominance of a few producers has implications for global supply chains, especially in industries reliant on hydrofluoric acid and aluminum production.

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 and is based in large part upon information provided and developed by Matthias Jurgeit, Globex’s onsite exploration geologist, a qualified Eurogeologist.

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 SEDARplus.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d6122e4-381d-438b-9aa5-d7c290eb4f73