Globex’s Duquesne‐Ottoman Option Inferred Gold Resource Increases 56%

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 Xmet Inc. today announced a revised National Instrument 43‐101 compliant Mineral Resource estimate on the

Duquesne West‐Ottoman Property optioned from Duparquet Assets Ltd., a company owned 50% by Globex.

The new resource calculation effective September 8, 2011 by Kurt Breede, P.Eng. of Watts, Griffis, McOuat Limited

(“WGM”), consulting geologists and engineers of Toronto, Ontario is based upon historical drill data and a 13,000 meter

drill program completed in April 2011.

The highlight of the report is the following Inferred Resource Estimate: “4,171,000 tonnes at an average grade of 5.42 g/t

Au (6.36 g/t uncut) hosting 727,000 cut ounces Au (853,000 uncut ounces Au)”.

WGM identified eight gold bearing zones, enumerated below, all of which are open to depth and many of which are open

along strike and up dip.

Zone Tonnes Au g/t

(cut to 30 g/t Au)

Au g/t

(Uncut)

Ounces

(Cut)

Ounces

(Uncut)

Average Horizontal

Width (m)

Liz 1,343,000 4.64 4.64 200,000 200,000 7.26

Fox 921,000 7.43 9.54 220,000 282,000 5.43

Nip‐Nord 361,000 5.92 6.13 69,000 71,000 5.79

Nip‐Sud 129,000 6.51 21.13 27,000 88,000 2.86

South Shaft 162,000 6.08 6.29 32,000 33,000 3.14

Shaft 468,000 4.51 4.51 68,000 68,000 2.82

Stinger 365,000 3.90 3.90 46,000 46,000 5.87

20‐20 422,000 4.80 4.80 65,000 65,000 6.23

Total 4,171,000 5.42 6.36 727,000 853,000 5.71

Please see the Xmet press release dated September 8, 2011 for details.

Xmet is earning a 75% interest in the property by spending a total of $10 million in exploration and making cash and

dividend payments totaling $8.81 million ($8.43 million remaining) and delivering 2 million Xmet shares (received).

Globex also maintains a sliding scale Gross Metal Royalty (GMR) which at today’s gold price is 3% GMR.

In other news on the property, Xmet yesterday announced the results from stripping and surface sampling on the Shaft

Zone. Assays of up to 13.38 g/t Au over 3 meters are reported.