ROUYN-NORANDA, QUÉBEC--(Marketwired - Aug. 14, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that Globex has received the July royalty payment from zinc production at the Mid Tennessee Mines from Nyrstar.
A payment of US$ 96,081 (CDN$ 121,917) was received based upon 2,373.4 tonnes of payable zinc production at an average zinc price of US$ 1.26 per pound, for the month of July. The current zinc price is US$.1.31 per pound. The mine and mill are in the ramp up phase with an announced objective of producing 50,000 tonnes per year of zinc concentrate by November. That is 4,166.7 tonnes of zinc concentrate per month well above the current ramp up rate of production and will translate into even greater monthly royalty payments to Globex.
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.
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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 at www.sedar.com
50,172,424 shares issued and outstanding
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.