Globex Options Joutel North-West and Gagne Gold Properties to Edison Lithium Corp.

02.03.2026  |  GlobeNewswire

TORONTO, March 02, 2026 - Globex Mining Enterprises Inc. (GMX - Toronto Stock Exchange, G1MN - Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF - OTCQX International in the US) is pleased to announce that Globex has entered an Option agreement with Edison Lithium Corp. (EDDY-TSXV, EDDYF-OTC PINK, VVO-FWB) (Edison) on Globex gold properties, Joutel North-West gold and Gagne gold and copper for a $750,000 in cash payments, $750,000 in Edison shares and $2,000,000 in exploration expenditures over a 3-year period. After Edison has completed all obligations Globex will retain a 3% Gross Metal Royalty (GMR) on both properties.

The deal terms are summarized below:

• On agreement execution Edison must pay to Globex, $100,000 in cash and $150,000 in shares of Edison on TSXV approval.
• On May 1, 2027 Edison must pay to Globex, $200,000 in cash and $300,000 in shares of Edison and Edison must complete $500,000 in exploration expenditures prior to May 1, 2027.
• On May 1, 2028 Edison must pay to Globex, $450,000 in cash, and $300,000 in shares of Edison and Edison must complete $500,000 in exploration expenditures prior to May 1, 2028.
• Prior to May 1, 2029 Edison must complete a further $1,000,000 in exploration expenditures.
• Once Edison has exercised its option and completed all conditions, Edison will own 100% of the properties subject to a 3% GMR royalty payable to Globex.
  
  

Joutel North-West /Gagne Property Highlights

• There are 46 mining claims on the Joutel North-West property and 24 mining claims on the Gagne property in the Eeyou-Istchee James Bay Territory of Quebec, about 65 km south-west of Matagami and 8 km northwest of the former mining village of Joutel. The property is accessible by highway 109 and a there is high voltage power to the former producing Agnico Eagle Gold mine Eagle - Telbel nearby.
• The properties are situated along the South Break of the Casa Berardi Structural zone adjacent to several past producing mines including the Globex-owned Poirier mine (historic production of 4.39 Mt grading 1.97% Cu, 1.84% Zin and 4.66 g/t Ag) and Joutel Copper Mine (historic production of 1.17 Mt grading 2.16% Cu) and Agnico Eagles first gold mine the Eagle - Telbel -Eagle West deposits which had historic production of approximately 1.1 million ounces from 6.2 Mt grading 5.8 g/t. Agnico closed the Eagle Telbel mine in 1993. Globex currently owns the Eagle Mine which is under option to Maple Gold Mines.

• Orford Mining (now Alamos Gold) last worked the Joutel North West property 2022-2023, principally focused on Quartz Carbonate and Sulphides associated gold mineralization at the South Gold Zone (Exhibit 2 and 3). Not unlike the historic Eagle Telbel deposits, exploration of the South Gold Zone has shown that a greater concentration of sulphides is directly correlated to higher gold grades on the property. Some of the drilling highlights from the South Gold Zone drilling by Orford Mining are shown below and in Exhibits 2 and 3:
  • 23-JE-004 returned 1.6 m grading 4.1 g/t Au and 30.1 m @ 1.1g/t Au.
  • 23-JE-015 returned 54.7 m @ 1.1 g/t Au.
  • 22-JE-003 returned 20.64 m @ 1.11 g/t Au including 4.15 m @ 1.78 g/t Au and 0.64 m @ 14.7 g/t Au.
  • 23-JE-008 returned 15.7 m @ 1.7 g/t Au and 14.2 m @ 2.2g/t Au.
• The South Gold Zone clearly demonstrates zones for thick mineralization with potential for a higher-grade core that may continue to depth. The deepest intercept (Exhibit 3) from 1989 in hole 89-A-02-W-1 intersected 2.5 m @ 0.9g/t Au at about 500 metre depth. About 100 metres above that in 1983 drilling hole
• 83-03 intersected 6.3 m @ 2.9 g/t Au including 2.3 m @ 5.3g/t Au.
• There is also a potential parallel zone to the north of the South Gold Zone discovered during the Orford Mining Drilling campaigns where hole 23-JE-007 intersected 16.1 m of 1.3 g/t Au (Exhibit 2).
• Outside the South Gold Zone there has been limited exploration despite an abundance of geophysical and structural targets along the 11 km of property covering the south break of the Casa Berardi Structural zone and another 6 kms of strike along the Gagne property which is southwest of the main Casa Berardi Structural zone.
• The Gagne Property is contiguous to the south end of the Joutel North-West property and southwest of the main Casa Berardi Structural zone. The property has a number copper and silver drill hole intersections in drill hole VAL-01 of up to 1.63% CU and 11.5 g/t Ag over 0.7 m and Joutel PS drilling returning results of up to 7.86% Cu, 72.2 g/t Ag and 0.20 g/t Au over 2.21 m and high-grade gold in trenching up to 22.6 g/t Au over 1.5 m. (See Exhibit 4). The Gagne property has a number of surface showings and drill hole intercepts that require follow-up exploration.
  
  

Exhibit 1. Joutel North-West Property Geology and historic exploration

Note: intercepts are historic and core lengths not true thicknesses.

Exhibit 2. Joutel North West South Gold zone and North Gold Zone Drilling plan map

Note: Intercepts are historic and are core length not true thicknesses.

Exhibit 3. Long section of the South Gold zone

Note: intercepts are from historic results and represent core lengths not true thicknesses.

Exhibit 4. Gagne Property Geology and historic exploration.

Note: Drill hole intersections are from historic work on the property and represent core lengths and not true thickness.

This press release was prepared by David Christie, P.Geo., President and COO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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 expectations and projections of Globex Mining Enterprises Inc. ("Globex"). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on Sedar.ca.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/922c7d12-ad8d-4755-9891-2b41170b5692

https://www.globenewswire.com/NewsRoom/AttachmentNg/aa4bcb5e-17cc-45c4-999c-66d9b823a849

https://www.globenewswire.com/NewsRoom/AttachmentNg/f4ab963c-dead-471c-96b3-e9f14143cc60

https://www.globenewswire.com/NewsRoom/AttachmentNg/35eb44f5-2d97-4f83-be9b-ca127e80a6c6