Globex Receives Gwillim Option Payment

9/19/2023 9:18:40 AM

(MENAFN- GlobeNewsWire - Nasdaq) ROUYN-NORANDA, Quebec, Sept. 19, 2023 (GLOBE NEWSWIRE) -- GLOBEX mining ENTERPRISES Inc. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exch anges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that TomaGold Corporation (“TomaGold”) (TSXV-LOT, OTCQB -TOGOF) has made the first year payment of $15,000 and 625,000 TomaGold shares to Globex for the option of Globex's 5 claim Gwillim property in Barlow township, Quebec.

Under the option, TomaGold may earn 100% interest in the property by making $130,000 in cash payments, paying 625,000 TomaGold shares upon signing and an additional $100,000 TomaGold shares over the 4-year option period divided equally per year based upon a 20-day VWAP and undertaking $1,500,000 in exploration work. Globex will maintain a 3% Gross Metal Royalty, 1% of which TomaGold may purchase for $1,500,000.

Preliminary prospecting by Globex had sampled up to 57.1 g/t Au and 0.96% Cu over a 1 m channel sample . The optioning of these Globex claims is another step in TomaGold's efforts to consolidate the Chibougamau Mining Camp.

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.

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