Mr. Jack Stoch reports

GLOBEX REPORTS THAT ROYALTY PARTNER RADISSON IS COMMENCING AN ADVANCED UNDERGROUND EXPLORATION PROJECT AT THE O'BRIEN PROJECT WHERE GLOBEX OWNS TWO ROYALTIES

On ground covered by Globex Mining Enterprises Inc.'s 1-per-cent New Alger guaranteed minimum royalty and 2-per-cent Kewagama net smelter return royalty, Radisson Mining Resources has commenced an advanced underground exploration program on the O'Brien project. A $57.16-million investment by Agnico Eagle Mines Ltd. into Radisson will support this underground exploration program on Radisson's O'Brien project. The program is intended to provide geological, geotechnical and operational information required to evaluate the mining options and future development scenarios of the O'Brien project. The underground program is expected to include the development of an access ramp, related underground and surface mine infrastructure, and water management facilities. Radisson reported that engineering and permitting work will commence immediately. Radisson will continue to execute its 140,000-metre stepout drill program. It is important to note that Globex has 100-per-cent ownership of the Cadillac Wood project, which is immediately to the east of Radisson's O'Brien project.

David Christie, PGeo, president and chief operating officer of Globex, in his capacity as a qualified person under National Instrument 43-101, prepared the information that forms the basis of this written disclosure.

We seek Safe Harbor.