Globex’s 2018 MTM royalty’s received at $564,222

Apr 25, 2018

2018-04-25 11:00 ET – News Release

Mr. Jack Stoch reports

NYRSTAR INCREASES RESOURCE AT GLOBEX’S MIDDLE TENNESSEE MINES ROYALTY PROPERTY

Globex Mining Enterprises Inc. has provided shareholders with a short update regarding its Middle Tennessee Mines royalty.

The Middle Tennessee Mines consists of three operating mines: Gordonsville, Elmwood and Cumberland, and one project, Stonewall, all operated by Nyrstar NV. Zinc mineralization occurs as what is known as Mississippi Valley type deposits. At the current zinc price, Globex retains a 1.4-per-cent gross metal royalty. Globex has received royalty payments totalling $1,008,171 in 2017 and $564,222 to date in 2018.

On March 22, 2018, Nyrstar issued a press release providing an update on operations, which commenced in May of 2017, and a new resource calculation. The press release stated the following:

“The operation achieved approximately 0.76 million tonnes mill throughput at an average grade of 3.12 per cent Zn to the end of 2017. Total ore reserves increased by 1.08 million tonnes and this increase is largely attributable to higher zinc prices and lower treatment charges, together with conversion of measured and indicated resources to ore reserves. In terms of resources, a total of 730,000 tonnes of measured and indicated resources was added, and this was due to discovery of extensions to mineralization and remodelling parts of the orebody.”

Reserve and resource figures were also published in the attached table.

Name of operation    Ownership  Mining method  Commodity  Proven ore reserves Probable ore reserves  Total ore reserves
                                                                2017     2016     2017      2016      2017     2016  
   
MTM               100 per cent    Underground        (Mt)       0.28     0.06     3.18      2.32      3.46     2.38

  
 
Name of     Ownership  Mining method  Commodity       Measured           Indicated         Measured and      Inferred
operation                                              mineral             mineral            indicated       mineral
                                                     resources           resources    mineral resources     resources

                                                      2017   2016         2017   2016      2017    2016      2017   2016
MTM      100 per cent    Underground        (Mt)      0.28   0.14         3.86   3.27      4.14    3.41     16.35  16.32
                                          Zn (%)      3.70   4.00         3.50   3.50      3.50    3.50      3.50   3.40

“This statement is reported in accordance with the JORC code of disclosure and based on information from a mineral resource and ore reserve statement reviewed by independent competent persons J. Morton Shannon, PGeo (APGO and APEGBC), for the mineral resources, and Gary Methven, PEng (APEGBC), for the ore reserves, both of AMC Mining consultants (Canada) Ltd.”

This press release was written by Jack Stoch, Geo, president and chief executive officer of Globex, in his capacity as a qualified person under National Instrument 43-101, with reference to Nyrstar NV’s press release dated March 22, 2018.

We seek Safe Harbor.

http://www.globexmining.com/news.php