Fabie Bay Copper-Silver Ore to be Milled by Xstrata

Fabie Bay Copper-Silver Ore to be Milled by Xstrata

GLOBEX MINING ENTERPRISES INC. is pleased to inform shareholders that First Metals Inc. (FMA-TSX) has entered into a Letter of Intent with Xstrata Copper Canada to custom mill and produce a copper concentrate at Xstrata’s facilities.

The confirmation of the availability of custom milling is regarded as a pivotal component in the rapid advancement of the Fabie Bay copper-silver deposit to production.

Globex is pleased with the rapid advancement toward production. Globex holds a 2% Net Metal Royalty and a 10% Net Profit Royalty on production (after recoup of $10 million of capital costs) from both the Fabie Bay and Magusi River massive sulphide deposits held under option from Globex by First Metals. In addition, Globex will receive 10% of the issued stock of First Metals upon commercial production being achieved from the properties.

This press release was written by Jack Stoch in his capacity as a Qualified Person (Q.P.).

We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b)
CUSIP Number 379900 10 3

Contacts: GLOBEX MINING ENTERPRISES INC. Jack Stoch, P.Geo President & CEO 819-797-5242 819-797-1470 (FAX) info@globexmining.com


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