Globex Mining Enterprises Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported loss before income and mining taxes of CAD 409,188, net loss of CAD 319,952 or CAD 0.02 per basic and diluted share on total negative revenue of CAD 48,380, compared to loss before income and mining taxes of CAD 115,960, net loss of CAD 81,145 on total revenue of CAD 174,448 for the same period last year. Cash outflow from operating activities was CAD 171,382, compared to cash inflow from operating activities of CAD 1,453,475 for the same period last year. Acquisition of properties and equipment was CAD 12,569, compared to CAD 217,554 for the same period last year. For the nine months, the company reported loss before income and mining taxes of CAD 1,080,354, net loss of CAD 829,300 or CAD 0.05 per basic and diluted share on total revenue of CAD 125,340, compared to earnings before income and mining taxes of CAD 3,199,378, net earnings of CAD 2,221,447 or CAD 0.12 per basic and diluted share on total revenue of CAD 4,264,337 for the same period last year. Cash outflow from operating activities was CAD 713,081, compared to cash inflow from operating activities of CAD 1,222,044 for the same period last year. Acquisition of properties and equipment was CAD 20,085, compared to CAD 246,221 for the same period last year.

Globex Mining Enterprises Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of CAD 221,458 or CAD 0.01 per basic and diluted share on revenues of CAD 257,065 compared to net earnings of CAD 118,013 or CAD 0.01 per basic and diluted share on revenues of CAD 693,753 for the same period last year. Loss before income and mining taxes was CAD 259,993 compared to earnings before income and mining taxes of CAD 180,710 for the same period last year. Cash provided by operating activities was CAD 18,607 compared to CAD 387,577 for the same period last year. Acquisition of properties and equipment was CAD 3,966 compared to CAD 15,755 for the same period last year. Mineral properties acquisitions were CAD 2,898 compared to CAD 4,010 for the same period last year. Acquisition of marketable securities was CAD 768,515 compared to CAD 2,411,222 for the same period last year. For the six months, the company reported net loss of CAD 509,348 or CAD 0.03 per basic and diluted share on revenues of CAD 173,720 compared to net earnings of CAD 2,302,592 or CAD 0.12 per basic and diluted share on revenues of CAD 4,089,889 for the same period last year. Loss before income and mining taxes was CAD 671,166 compared to earnings before income and mining taxes of CAD 3,315,338 for the same period last year. Cash used in operating activities was CAD 541,699 compared to CAD 231,431 for the same period last year. Acquisition of properties and equipment was CAD 7,516 compared to CAD 28,667 for the same period last year. Mineral properties acquisitions were CAD 10,248 compared to CAD 5,985 for the same period last year. Acquisition of marketable securities was CAD 901,098 compared to CAD 4,429,597 for the same period last year.

Globex Mining Enterprises Inc. provided with additional information regarding progress on Deloro Township, Ontario magnesite-talc project. To date, Globex has spent over $1 million on metallurgical test work and drilling under a joint venture with Drinkard Metalox Inc. A diamond drill program of 17 holes was completed for a total of 2,126 meters. The core was logged and a visual characterisation of each geological unit recorded. A total of 577 core samples, representing continuous intersections, were geochemically analysed and sent to the Advanced Mineralogical Facility at SGS Lakefield Research Limited in Lakefield, Ontario in order to: 1) mineralogically characterize the 577 samples by QEMSCAN, 2) determine magnesite and talc contents of each sample, 3) determine the minerals that contribute certain potentially recoverable trace elements, 4) look at selected samples petrographically (21 samples) to aid with a petrogenetic model and 5) determine the 'natural variability' of a 'standard sample'. SGS has also been engaged to perform certain flotation tests upon the composite drill core sample in order to produce a talc concentrate and a magnesite concentrate for further test work. A portion of this drill core composite has been forwarded to Drinkard Metalox for additional metallurgical testing. Results are pending.