Mr. Jack Stoch reports

GLOBEX MINING ENTERPRISES INC. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved the renewal of Globex Mining Enterprises Inc.'s normal course issuer bid (NCIB). Under the renewed NCIB, Globex will be entitled to repurchase for cancellation up to one million common shares, representing approximately 1.78 per cent of Globex's issued and outstanding shares as of July 19, 2024, over a 12-month period starting on Aug. 2, 2024, and ending on Aug. 1, 2025. The purchases by Globex will be effected through the facilities of the TSX and on alternative trading systems in Canada, and will be made at the market price of the shares at the time of the purchase. Globex had 56,294,836 common shares issued and outstanding as of July 19, 2024, of which 48,740,245 shares constituted the public float.

During the most recently completed six months, the average daily trading volume for Globex's common shares on the TSX was 22,553 shares. Consequently, under the policies of the TSX, Globex will have the right to repurchase, during any one trading day, a maximum of 5,638 common shares on the TSX, representing 25 per cent of the average daily trading volume. In addition, Globex may make, once per calendar week, a block purchase (as such term is defined in the TSX company manual) on the TSX of common shares not directly or indirectly owned by insiders of Globex, in accordance with the policies of the TSX.

Globex intends to acquire the common shares because it believes that the repurchase of common shares at certain market prices is beneficial to Globex and its shareholders. Globex intends to make any purchases on an opportunistic basis, taking share price and other considerations into account.

Any purchases made pursuant to the NCIB will be made in accordance with the requirements of the TSX. Except for exempt offers, Globex will make no purchases of common shares other than open market purchases during the period of the NCIB.

Under its current NCIB, which entered into effect on Aug. 2, 2023, and which expires on Aug. 1, 2024, Globex is authorized to purchase up to one million shares. Under the NCIB, Globex has repurchased a total of 225,000 common shares at a volume weighted average purchase price of 81.20 cents per share, through the facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were cancelled by Globex.

In connection with the NCIB, Globex has entered into an automatic share purchase plan with a Canadian securities dealer pursuant to which the securities dealer, acting as Globex's agent, may acquire at its discretion shares on Globex's behalf during blackout or closed periods under Globex's stock trading policy, subject to certain parameters as to price and number of shares.

We seek Safe Harbor.