High Grade Ni/PGE Adjoining Globex's Tyrone Property

ROUYN-NORANDA, Quebec, June 02, 2025 (GLOBE NEWSWIRE) -- 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 inform shareholders that Azimut Exploration Inc. has announced additional positive assays from the Perseus Nickel Zone discovered in 2024 adjoining to the southeast of Globex's Tyrone Property located in the Eeyou Istchee (James Bay) region of Quebec.

The previously reported drill results on the Perseus discovery includes the following as reported by Azimut:

• 2.98% Ni, 0.32% Cu, 2.25 g/t PGE over 8.0 m, incl. 3.74% Ni, 0.41% Cu, 2.82 g/t PGE over 6.0 m (channel)
• 1.10% Ni, 0.15% Cu, 1.02 g/t PGE over 9.0 m, incl. 1.42% Ni, 0.19% Cu, 1.36 g/t PGE over 6.0 m (channel)
• 1.64% Ni, 0.11% Cu, 1.12 g/t PGE over 8.5 m incl. 3.55% Ni, 0.19% Cu, 2.19 g/t PGE over 2.5 m; and 0.90% Ni, 0.32 g/t PGE over 9.05 m (Hole KUK24-001)
• 8.42% Ni, 0.55% Cu, 7.25 g/t PGE over 1.9 m (Hole KUK24-002)
• 0.81% Ni, 0.52 g/t PGE over 24.2 m, incl. 1.63% Ni, 0.14% Cu, 1.61 g/t PGE over 1.25 m; and 3.46% Ni, 0.21% Cu, 2.44 g/t PGE over 0.75 m (Hole KUK24-003)
• 6.06% Ni, 0.38% Cu, 3.34 g/t PGE over 2.6 m incl. 19.6% Ni, 0.81% Cu, 9.43 g/t PGE over 0.75 m; and 3.18% Ni, 0.15% Cu, 1.17 g/t PGE over 1.7 m (Hole KUK24-007)

In a press release dated May 29, 2025, (click here to access), Azimut announced the assay results of "Thirty (30) selected high-grade nickel samples from the Perseus Nickel Zone, all with grades higher than 3.0% Ni ranging from 3.46% to 19.60% Ni, were analysed for the complete suite of PGE (Platinum Group Elements), including platinum (Pt), palladium (Pd), and the rarest PGEs, rhodium (Rh), iridium (lr), ruthenium (Ru) and osmium (Os). These nickel samples are commonly associated with high palladium grades ranging from 1.16 g/t Pd to 12.15 g/t Pd, and high platinum grades up to 3.65 g/t Pt.

These samples also returned significant grades for the rarest PGEs, with up to 1.16 g/t Rh, 0.43 g/t Ir, 2.75 g/t Ru and 0.45 g/t Os, adding significant potential value to the Perseus Zone. For indicative purposes only, the current market prices for some of the PGE's are: rhodium: US$5,325/oz.; iridium: US$4,150/oz., platinum: US$1,088/oz., palladium: US$998/oz. and ruthenium: US$615/oz. (prices as of May 27, 2025; source Johnson Matthey (https:/matthey.com/).

Gold and tellurium contents are also anomalous, with grades up to 1.13 g/t Au and 32.1 g/t Te respectively.

The additional assay data indicates greater economic potential than previously thought. The high-grade mineralization intersected in previously reported drill holes and the new high-grade nickel and Platinum Group Elements (PGE) mineralized system associated with komatiitic volcanics bears similarities to Archean Kambalda-type komatiitic nickel deposits as found in the Kambalda district of Western Australia. The high-grade mineralization is associated with a magnetic anomaly which can be followed onto Globex's Tyrone property into an area not previously extensively explored. This is highly prospective as Azimut reports that the zone "remains open in all directions”. Other parts of the Tyrone property show numerous high-grade copper, gold and silver occurrences in trenches and grab samples of up to 47.2 g/t Au, 71 g/t Ag and 7.4% Cu.

This press release was written by Jack Stoch, P. Geo., President and CEO 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 SEDARplus.ca.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5f3510d-702b-46a6-b037-0927940a571c