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Globex Options Bateman Bay Mine and Grandroy Mine; Copper Gold Properties

Posted on: Monday, 28 January 2008, 03:00 CST

GLOBEX MINING ENTERPRISES INC. (TSX: GMX) (FRANKFURT, STUTTGART, BERLIN, MUNICH, XETRA:G1M) (OTCQX: GLBXF) is pleased to inform shareholders that it has optioned its Chibougamau area Bateman Bay Mine and Grandroy Mine copper-gold properties to Ressources minieres Processor inc.

Under the terms of the Agreement, Processor must pay Globex $1 million and issue to Globex 1.5 million Processor shares over 3 years and spend $10 million on exploration and/or development over 4 years in order to earn 100% interest in the properties. Globex will maintain a 4% Gross Metal Royalty on all mineral production from the properties which is targeted to be achieved in 2009, but under the terms of the Agreement, must be achieved no later than 36 months from the Effective Date of January 24, 2008.

At 48 months after the Effective Date of the Agreement, if the properties are not in production, Processor will begin to pay Globex a $50,000 per year advance royalty.

Processor is a private company which is working towards becoming a listed company. The company plans to build a mill capable of treating gold and polymetallic ores in the Chibougamau area. Processor intends to treat ore from Globex's Bateman Bay and Grandroy properties at this mill.

Processor also intends to explore Globex's properties and undertake drill programs to see if the known copper-gold zones can be increased in size.

The Bateman Bay Mine property has a drill defined copper-gold zone that has been accessed by a shaft and three levels. The Grandroy Mine property was previously mined by an open pit and a spiral decline from the base of the open pit.

This press release was written by Jack Stoch in his capacity as a Qualified Person (Q.P.).

 We Seek Safe Harbour.                  Foreign Private Issuer 12g3 - 2(b)                                        CUSIP Number  379900 10 3 

Forward Looking Statements: Except for historical information this News Release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections.

17,822,674 shares issued and outstanding

 Contacts: GLOBEX MINING ENTERPRISES INC. Jack Stoch, P.Geo, Acc.Dir. President & CEO 819-797-5242 819-797-1470 (FAX) info@globexmining.comwww.globexmining.com

SOURCE: GLOBEX MINING ENTERPRISES INC.

Source: MARKET WIRE

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