Globex: Shareholders' Update

ROUYN-NORANDA, QUEBEC, CANADA, Jul 13 (MARKET WIRE) --

GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(PINK SHEETS:
GLBXF).

It has been a while since we did a shareholders' update, mainly because
we are inundated by technical work which while important, may not be
material from an investor perspective.

In any case, we have been moving forward on many fronts and below I will
quickly review some of the efforts and results to date.

Of primary interest to many shareholders is our Deloro magnesium talc
project. In partnership with Drinkard Metalox, we have made significant
advancements in laboratory and bench scale test work and in fact have
completed both sets of testing. Results have been favourable with
indications that we can produce Magnesium Oxide with a purity exceeding
99%. In addition, we can liberate a high quality talc with
characteristics which meet the parameters required by the plastics
industry. Furthermore, we have found that a number of other substances
can be separated and we are looking at the economic viability of these
additional products as well as studying the production of a number of
other magnesium speciality products.

We have a team of five engineers/metallurgists working on the project and
have spent over $1 million CA advancing our understanding and application
of the DMI hydrometallurgical technology to our Deloro township
magnesite-talc mineralization.

A drill program has been completed near the center of the mineral body in
order to provide material for additional test work and detailed
mineralogical and chemical analysis. This work has been completed and an
outside firm has been retained to complete a NI 43-101 resource
calculation.

Presently, we are doing flotation test work at SGS Lakefield Research in
Ontario and a number of other critical analysis at other speciality labs.
Upon completion of this test work, it is our intention to undertake a
mini pilot plant test before proceeding to a full blown pilot plant test.

KPMG Corporate Finance LLC has been working with us to secure long term
funding for the project and has recently completed the Preliminary
Information Memorandum for distribution to prospective partners. There
already have been a number of preliminary expressions of interest.

No additional fieldwork has been undertaken on the Ironwood gold project.
Subsequent to the announcement of the NI 43-101 resource of 243,200 tons
grading 17.26 g/t Au (see Globex press release dated March 3, 2008),
Queenston Mining and Globex have identified several avenues which can
unlock the value of our asset. We are awaiting a response to a proposal
which we feel can create immediate value for our shareholders but there
can be no assurance that our proposal will be accepted.

We have been approached by a number of companies that wish to option
properties (Bousquet, Hunters Point etc). Discussions seem to be more
drawn out than previously, probably due to current financial conditions
which, for the junior mining sector frankly stink. We are hopeful of
realizing some of these potential deals with the cash and share payments
to Globex as well as work requirements and potential royalties that they
entail.

At the same time, we have been acquiring a number of projects including
the Cote copper-nickel and Lake Colnet gold and zinc properties west of
Rouyn-Noranda, doubled the size of our Tavernier gold, silver, copper,
zinc property east of Val d'Or, acquired the former Shortt Lake Gold Mine
including a rare earth bearing carbonatite, northeast of Desmaraisville,
staked a large package of claims in Barlow township directly north of
Cogitore's Scott township zinc discovery and are awaiting decisions in
several staking competitions related to gold and lithium properties.

In addition, we have been exploring. We have completed induced
polarization and magnetometer surveys on the original east half of our
Tavernier claims package and have compiled all the historical data. This
was backed up by field mapping and surveying of old drill casings. We
believe that the geology, mineralization and alteration intercepted in
previous shallow drill holes along with new geophysical data that we have
generated, indicate that the claims are highly prospective for the
discovery of economic gold, silver, copper, and zinc mineralization.
Interestingly, our neighbour adjoining to the east, issued a press
release to announce the delineation of one prospective geophysical
anomaly. The work on the eastern half of our property has outlined over
25 prospective geophysical trends composed of 205 individual induced
polarization anomalies. To quote the consulting geophysicist "lots of
moose in this moose pasture..... smells like we're gonna bag some meat
.....".

On our newly acquired Cote property, surface prospecting has located
surface mineralization grading up to 1.78% nickel and 0.81% copper in
grab samples. Meanwhile, grab samples on our Lake Colnet property have
returned up to 11 g/t gold. A grid is now being cut over the area of gold
mineralization. Prospecting and a preliminary geophysical survey will be
undertaken shortly.

An induced polarization survey was completed over our La Pause township
claims northwest of the large Doyon gold mine. No obvious drill targets
were defined. More thought must be given to our exploration approach, in
light of the strategic location of the claims and historic basal till
gold anomalies in the area.

Initial compilation work and prospecting were completed on our series of
claim packages southeast of Joutel, Quebec. Additional field work is
planned to commence shortly, in order to identify first priority drill
targets.

Similarly, field work is proposed to map the geology in areas of priority
targets on our Tonnancour township land package in anticipation of a
drill campaign. Previous geophysical work, trenching and prospecting has
identified targets thought to be caused by metallic mineralization,
hopefully enriched in gold, silver, copper and zinc.

At Globex's Hunters Point uranium, gold, rare earth property in Quebec,
historical assays of up to 7% U3O8, over 1oz/ton gold and rare earth
elements beyond the detection limits of conventional assay methods
(greater than 10,000 ppm) have been found in surface sampling. An
airborne radiometric survey and prospecting located several areas of
interest. On the east side of our large land package surface samples
assayed extremely high in rare earths. A small localized follow-up drill
program failed to extend the surface showing but much of the mineralized
horizon is as yet untested. Our neighbour, Aurizon Mine Ltd., has also
identified significant rare earth values on adjoining claims.

At the Russian Kid Mine (Rocmec 1), Rocmec Mining Inc. has continued
processing development muck (low grade). A small amount of concentrate
has been processed by a refinery but Rocmec is still waiting for Xstrata
to schedule processing of sulphide concentrate delivered to the smelter.
Development muck is not ore and is usually processed first as it is
readily available and serves the purpose of providing material for tuning
up the new mill.

On the optioned properties front, progress is at best slow. Processor
Mining Resources Inc. has failed to achieve listing on a public stock
exchange within the required time period which we extended for some
months due to the present market conditions. We reluctantly terminated
the contract and recovered 100% interest in the Bateman Bay copper-gold
mine and Grandroy gold Mine properties.

Strategic Resource Acquisition has lost its principal asset, the
Mid-Tennessee Zinc Mine and surrounding properties through a sale under
the bankruptcy act in Tennessee. Fortunately, Globex has been able to
maintain its royalty interest on the property. If the mine should be
reopened, we will be in the position to receive cash payments from the
new owners, Nyrstar NV, a major international zinc producer with a nearby
zinc smelter. In some ways, this experience has been a vindication of our
policy of optioning out properties and letting others take the risk, do
the work and put in the intellectual and physical effort. In this case,
about $200 million and 2 years of effort were destroyed by the sudden and
rapid decline in zinc prices.

First Metals seems to have escaped bankruptcy but is about to suffer
massive dilution with its issued and outstanding share, rising from 42.8
million shares to over 325 million shares. Again, Globex's royalty
remains in place and we have not suffered the dilution, lost time, effort
and investment that First Metals has unfortunately undergone. We have
disposed of our First Metal shares at current or slightly above current
market prices. When the Fabie Bay and Magusi River polymetallic deposits
again achieve production, we can expect renewed royalty payments.

Plato Gold Corp. has completed drill programs on the Nordeau East, West
and Bateman claims. NI 43-101 reports were written and new resources
calculated. Unfortunately, under regulations which I quite frankly do not
understand the rational of, Globex is not allowed to directly quote the
resource figures published by Plato even though they are available in
public documents such as Plato's, Management Discussion and Analysis,
Quarterly Report for the three months ended March 31, 2009 as published
on May 27, 2009. To say that some regulations are weird is an
understatement. Anyone can consult Plato's public documents on
www.sedar.com, project no. 01387997, Technical Report (NI 43-101), March
17, 2009 to see the data. Anyone can publish, report or comment on the
figures except Globex, their partner. Like I said, weird.

Silver Capital which has an option on our Suffield Mine property in
Southern Quebec has been stalled on two fronts. First, they have not
succeeded in listing the company on a German Stock Exchange. Secondly,
they have not been able to access the property of one surface rights
owner who objects to the temporary laying of wires for a geophysical
survey on his land unless Silver Capital agrees in advance to buy his
property at an inflated price if a mine is found. In addition, false
reports published by La Presse, the major Quebec, French language
newspaper, whipped up anti-mining sentiment among some area residents
when it was reported that we intended to open a large open pit mine in
their back yard, even though no mine has been outlined. Sadly, this is
the state of journalism today. The ability to speak but not the
obligation to speak the truth. On the Copper-Silica #1 Zone on the
Lyndhurst property, drilling and stripping have indicated a mineralized
zone with a more complex nature than previously thought. More stripping
is planned to expose the structure which may extend further and in a
somewhat different trend than originally thought. The work is funded by
our 50% partner Agregat.

Gold Bullion Development Corp. has returned the Jacobie Copper prospect
in British Columbia to Globex without doing work on the property due to
limited funds. We immediately contacted a company operating a copper mine
to the east, to present the project. We are awaiting their decision which
will be made after appropriate due diligence.

Bulls Eye, which has a number of properties under agreement from Globex
(Lamotte, Duvan, Halliwell, BM property) has not yet listed on a public
exchange. In addition, there has been a shakeup in management. Work was
undertaken on all the properties (geophysics, diamond drilling, etc.) and
we are awaiting reports on this work. All the properties have been
maintained with assessment submitted and taxes paid.

As regards Nova Scotia properties, we are awaiting news as to the
progress of financing of the projects including the Mooseland Gold
property from Nova Scotia Associates. Considering the current economic
climate, we would not be surprised if it takes more than 3 months to
raise the $16 million which they are targeting.

Osisko Mining Corporation continues to explore the properties on which
Globex retains a royalty, west and northwest of their planned open pit at
Malartic, Quebec. Similarly, Typhoon Exploration Inc. continues to
explore their Fayolle gold zone and surrounding claims on which Globex
retains a royalty interest.

Globex holds a 1% NSR on the Standard Gold property northeast of Amos,
Quebec. Arianne Resources holds the property and has just signed an
agreement with a private company whereby the private company can earn
100% interest in the property. We are hopeful that work will advance the
understanding and size of the historical resource thereby increasing the
potential of our royalty.

On the metal front, prices have rebounded from their lows in December of
2008. Some such as copper have done better than others such as zinc.
Although the economy seems to be an unfathomable mess, for the short term
at least, the worst of metal prices seems to be behind us. This does not
mean that it will be easy. Investors are still nervous not only about
where the economy is going but also about the macro stability of the
economic and political systems of the world. Against that backdrop, more
effort is required to make lesser gains. Despite this, we feel that we
are making significant progress which over time will be reflected in our
share price and many other concrete ways.

I would, on a personal note, like to thank those who have supported us
over the years and continue to do so in these trying times. We are
working hard to repay you for your faith in us.

Jack Stoch and the team at Globex Mining Enterprises Inc.

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 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.

18,978,074 shares issued and outstanding

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

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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