Globex and Drinkard Metalox Formalize Refractory Gold Processing Joint Venture

ROUYN-NORANDA, QUEBEC, Apr 22 (MARKET WIRE) --
GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(PINK SHEETS:
GLBXF) is pleased to inform shareholders that Globex has reached a
definitive agreement with Drinkard Metalox Inc. (DMI) forming a joint
venture in order to commercialize on a worldwide basis, DMI's trade
secret and patented hydrometallurgical technologies for the efficient and
environmentally friendly recovery of gold, silver and other metals from
arsenical and/or refractory ores.

The DMI hydrometallurgical technologies and process methods have been
developed and tested by DMI over many years and recent test work for
Globex on ore from a developing large tonnage, low grade arsenical,
refractory gold deposit has shown it can significantly increase precious
metal recoveries while transforming arsenic in residues into a stable
form suitable for disposal in tailings. Numerous refractory gold deposits
have not reached commercial production due to low gold recoveries and the
potential environmental damage that can be caused by the disposal of
arsenic in tailings. The joint venture expects that the application of
DMI's hydrometallurgical processes can significantly increase gold
recoveries, create stable and environmentally acceptable tailings thus
allowing uneconomic refractory gold projects to achieve commercial
production with lower capital and operating costs. It is contemplated
that the processes can also be applied to existing arsenical gold bearing
tailings resulting in stable, benign tailings after the recovery of
previously unrecoverable precious metals. The methods are both good for
the environment and profitable.

Under the agreement reached by Globex and DMI, an exclusive worldwide
joint venture was formed to commercialize the application of the
hydrometallurgical technologies. Globex will manage the joint venture and
fund its work while retaining a 75% interest. DMI will provide its
expertise, patents and trade secrets and perform hydrometallurgical test
work to prove its commercial applicability to various refractory gold
deposits while maintaining a 25% carried interest in the joint venture.

The joint venture expects to profit through technology contracts which
will include fees and royalties based upon, among other things, savings
in capital costs and a percentage of precious metal recoveries from gold
deposits which, under conventional technologies, are uneconomic due to
low gold recoveries and environmentally unacceptable tailings. There are
numerous such opportunities available worldwide. Existing technologies
often require large capital outlays, expensive processing such as fine
grinding or oxidizing and have high operating costs due to such things as
high energy requirements and ongoing tailing effluent treatment. It is
expected that, in most cases, many if not all of these problems can be
overcome by the DMI processes.

The joint venture has negotiated a test program with a client who is
endeavouring to commercialize a large tonnage, low grade refractory gold
deposit. Test work on a sample of refractory gold bearing concentrate has
begun.

Globex is pleased to be strengthening its business relationship with DMI
and looks forward to the challenges and rewards of this endeavour.

Technical Information (after Wikipedia, the Free Encyclopedia)

"A "refractory" gold ore is an ore that is naturally
resistant to recovery by standard cyanidation and carbon adsorption
processes. These refractory ores require pre-treatment in order for
cyanidation to be effective in recovery of the gold. A refractory ore
generally contains sulfide minerals, organic carbon, or both. Sulfide
minerals often trap or occlude-gold particles, making it difficult for
the leach solution to complex with the gold. Organic carbon present in
gold ore may adsorb dissolved gold-cyanide complexes in much the same way
as activated carbon. This so-called "preg-robbing" carbon is
washed away because it is significantly finer than the carbon recovery
screens typically used to recover activated carbon.

Existing pre-treatment options for refractory ores include:

1. Roasting
2. Bio-oxidation
3. Pressure oxidation
4. Ultrafine grinding

The refractory ore treatment processes may be preceded by
concentration (usually sulfide flotation). Roasting is used to oxidize
both the sulfur and organic carbon at high temperatures using air and/or
oxygen. Bio-oxidation involves the use of bacteria that promote oxidation
reactions in an aqueous environment. Pressure oxidation is an aqueous
process for sulfur removal carried out in a continuous autoclave,
operating at high pressures and somewhat elevated temperatures. Ultrafine
grinding may be used when liberation of gold particles from the
surrounding mineral matrix is the primary refractory characteristic of
the ore."

These methods are often capital intensive, have high ongoing costs for
energy or other consumables and while somewhat increasing recoveries, the
additional gold recovery or financial gain is often not significant
enough to warrant the ongoing costs or capital expenditures. It is
thought that the DMI process will remedy this longstanding problem.

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

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 Companies expectations and projections.
A more detailed discussion of the risks is available in the "Annual
Information Form" filed by the Company on SEDAR at www.sedar.com

19,240,074 shares issued and outstanding

Contacts:
Globex Mining Enterprises Inc.
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
819-797-5242
819-797-1470 (FAX)
info@globexmining.com
www.globexmining.com

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