Another Globex Royalty Property to See Large Exploration Expenditures
(firmenpresse) - Another Globex Royalty Property to See Large Exploration Expenditures
Rouyn‐Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Xetra Stock Exchanges and GLBXF – OTCQX International) is pleased to inform shareholders that Osisko Mining Corporation has optioned 70% interest in the Standard Gold Property held by Threegold Resources Inc.
Globex maintains a 1% Net Smelter Royalty on eight claims including the old mine area. Osisko must spend $10 million in exploration expenditures in order to earn 70% interest in the project. Globex is pleased that the property may undergo such a large exploration program in order to confirm the potential of thep roperty to house a large tonnage, low grade gold deposit.
Previously, the property was reported to have a historical resource of 132,750 tonnes grading 5.43 g/t Au. (This resource predates NI 43‐101 regulations and should not be relied upon.)
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 10 3
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn‐Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
info(at)globexmining.com
www.globexmining.com
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
Leseranfragen:
Globex Mining Enterprises Inc.
86-14th Street
Rouyn-Noranda, Quebec J9X 2J1
Canada
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Datum: 15.02.2011 - 20:08 Uhr
Sprache: Deutsch
News-ID 28024
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Wien
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