Mr. Jack Stoch reports

MORE DRILLING ON GLOBEX'S BATTERY HILL MANGANESE ROYALTY PROPERTY

Globex Mining Enterprises Inc. has provided an update to shareholders as regards drill results reported by Manganese X Energy Corp. on Globex's 1-per-cent-gross-metal-royalty Battery Hill manganese property in New Brunswick. Globex also is a very large shareholder in Electric Royalties, which holds a 2-per-cent gross metal royalty as the property. Manganese X has reported 12 new drill holes totalling 1,393 metres in the Moody Hill and Sharpe Farm sectors of the property, which are in addition to the 93 previous drill holes. Intersections up to 72.6 metres (238 feet) are reported.

Key highlights:

• SF24-96: 12.5 metres at 13.62 per cent manganese oxide (MnO) from 41.5 metres and 13.3 m at 14.9 per cent MnO;
• SF24-98: 72.6 m at 11.29 per cent MnO from 11 m, including 42.1 m at 13.3 per cent MnO;
• SF24-99: 32 m at 15.7 per cent MnO from five m;
• SF24-101: 16 m at 13 per cent MnO from eight m and 51.5 m at 12.57 per cent MnO from 136 m;
• SF24-102: 24.2 m at 9.3 per cent MnO from 6.8 m, 16.8 m at 10.89 per cent MnO from 53.4 m and 35.6 m at 14.6 per cent MnO from 87.2 m;
• SF24-103: 32 m at 11.6 per cent MnO from 27 m;
• SF24-105: 20.2 m at 11.2 per cent MnO from 81 m.

All drill holes were inclined at minus-45 degrees, with true thickness estimated at 65 per cent to 80 per cent of the reported core lengths. Core logging and sampling followed industry-standard protocols, including a quality assurance/quality control program with certified standards, blanks, and duplicates, comprising 5 per cent of total samples. Sample intervals averaged two metres.

Initial half-core samples were collected by company personnel and sent to the Actlabs prep lab in Fredericton, N.B., before being forwarded to Actlabs in Ancaster, Ont., for XRF (X-ray fluorescence) fusion whole-rock analysis (Code 4C). Actlabs is an accredited laboratory.

Manganese X's news release was reviewed and approved by Perry MacKinnon, PGeo, vice-president of exploration for Manganese X and a qualified person under National Instrument 43-101 guidelines for mineral project disclosure.

The holes were focused on infill and expansion drilling to upgrade inferred resources to measured and indicated categories supporting a coming NI 43-101 compliant prefeasibility study currently under way by Mercator Geosciences. The Manganese X Energy press release is available on the Manganese X website.

Considering the current worldwide economic situation and the need for Canada to source its own critical minerals both for domestic use and export, the Battery Hill manganese deposit is well positioned for the future.

The Manganese X mission, as stated, is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and the United States to commercialize electric-vehicle-compliant high-purity manganese, potentially supplying the North American supply chain. The company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries as well as striving to achieve new carbon-friendly, more efficient methodologies while processing manganese at a lower competitive cost.

This press release was written by Jack Stoch, PGeo, president and chief executive officer of Globex, in his capacity as a qualified person under NI 43-101.

We seek Safe Harbor.