Renforth Advancing Globex’s Parbec Gold Royalty Property

ROUYN-NORANDA, Quebec, Dec. 02, 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 inform shareholders that Renforth Resources Inc. (RFR-CSE, RFHRF-OTCQB, 9RR-FSE) has announced new initiatives at the Parbec Gold Deposit in Malartic township Quebec, along strike to the northwest of the large, open pit, Canadian Malartic Gold Mine and directly adjoining the west boundary of East Amphi Gold Mine. Work to be undertaken includes a gold resource update, permitting to dewater the current ramp and TOMRA (sorting specialists) testing of mineralized and non-mineralized rock from the Parbec property.

Renforth has engaged SGS Canada, as author of the new Mineral Resource Estimate (MRE) and NI 43-101 Report. The new report will include 15,000 metres of drilling by Renforth since 2019, historical drilling previously excluded from the December 2019 MRE and incorporation of the current geological model. The previous MRE was calculated using a US $1,450 per ounce gold price versus the current +US $2,600 per ounce gold price.

For a more detailed update please refer to Renforth’s Press Release dated November 29, 2024.

Globex retains a 3% Gross Metal Royalty on the Parbec property.

Parbec geological map

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.

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/5fd7ecbb-426b-4e50-8618-57badcd6fbcf

Parbec geological map

Parbec geological map