Brunswick Options Globex’s Lac Escale Property
January 24 2023 - 9:00AM
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 it has optioned its recently acquired
Lac Escale
Property located in the James Bay area of northern Quebec
(NTS 33H09) to
Brunswick Exploration Inc.
(BRW-TSXV).
The Lac Escale property consists of 81 cells
which encompass several mineralized areas including the following
gold and/or base metal zones: Lac Sirios Nord, Lac Sirios Sud, Eade
Nord, Centre-2, E04-4, Deuxième Chance, Lac Éléana and Bouchard
(see property map below). The property in addition to
potential for gold and base-metals has potential for the discovery
of lithium mineralization. Boulders containing spodumene a lithium
bearing mineral are known to occur in the area.
Under the option agreement, Brunswick
will pay Globex $500,000 over a three-year period, half in cash and
half in Brunswick shares and, undertake $1,000,000 in exploration
on the cells. If Brunswick completes the cash and work commitments,
they shall earn 100% interest in the property subject to Globex
retaining a 3% Gross Metal Royalty of which 1% GMR may be purchased
by Brunswick for $1,000,000. The royalty shall also apply to any
mineral rights acquired by either party within 1 kilometer of the
current claim boundaries. Lastly, should Brunswick earn 100%
interest in the property, at the 5th
anniversary of the coming into force of the Royalty
Agreement or following total expenditures of $4,000,000 whichever
comes first, Brunswick will commence to pay Globex an annual
$100,000 advance royalty payment deductible from
production.
(See Lac Escale Property Regional Geology Map
below or consult Brunswick’s press release here).
This press release was written by Jack Stoch,
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 50 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax: 819.797.1470 info@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.
Lac Escale Property Regional Geology
Map
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/800bab11-ada5-4c96-981c-03880f7ddd56
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