Chibougamau Independent Mines Intersects Wide High Grade Zones of Copper and Gold Mineralization Extending the C-3 Zone to Depth

ROUYN-NORANDA, Quebec, April 22, 2019 (GLOBE NEWSWIRE) -- CHIBOUGAMAU INDEPENDENT MINES INC. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US) and GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1M – Frankfurt, Stuttgart, Berlin, Munich, Lang & Schwarz and Tradegate Stock Exchanges in Germany and GLBXF – International OTCQX in the US) are pleased to report to shareholders the results of analysis of two drill holes completed on the 100% Chibougamau Independent Mines Inc. owned C-3 Zone on the Bateman Bay property located in McKenzie township, east of the Town of Chibougamau, Quebec.  Globex Mining Enterprises Inc. holds a 3% Gross Metal Royalty on the Bateman Bay property and most of the other Chibougamau Independent Mines assets as a result of the spin out of Chibougamau Independent Mines Inc. to Globex shareholders.  For additional information regarding the drill holes, please see the Chibougamau/Globex press release dated April 4, 2019 at .

Drill hole BJ-19-17 intersected the C-3 Zone at a vertical depth of 340 metres (1,115 ft), 80 metres (262 ft) below and 25 metres (82 ft) southeast of drill hole BJ-16-16 which returned 3.61% Cu, 1.72 g/t Au and 11.9 g/t Ag over 12.5 metres (41.0 ft).

Hole BJ-19-17 returned two intersections of 3.46% Cu, 2.75 g/t Au and 10.81 g/t Ag over 12.47 metres (40.9 ft) and 8.49 % Cu, 7.55 g/t Au and 49.22 g/t Ag over 5.90 metres (19.36 ft) from 375.60 metres to 388.07 metres and 391.70 metres to 397.60 metres respectively.

The assays in hole BJ-19-17 are as follows:

Hole BJ-19-17

The combined copper, gold and silver zones, including the section between them which averaged 0.57% Cu, 0.67 g/t Au and 1.79 g/t Ag, averaged the following:

Average:

Hole BJ-19-18 also intersected the C-3 Zone, at a vertical depth of 450 metres (1,476 ft), 40 metres (131.2 ft) southeast and 110 metres (361 ft) below BJ-19-17.

Hole BJ-19-18 returned 7.70% Cu, 3.58 g/t Au and 33.25 g/t Ag over 9.2 metres (30.2 ft) from 496.5 metres to 505.7 metres.

Hole BJ-19-18

Chibougamau Independent Mines Inc. and Globex Mining Enterprises Inc. are extremely pleased with the results of drilling to date on the C-3 Zone which has now been shown to extend to at least from surface to a vertical depth of 450 metres (1,476 ft) and is open in all directions on strike to the northwest and southeast and to depth. We are particularly pleased with the gold content which in individual assays reaches up to 37.37 g/t Au over 0.62 m (2.03 ft), 18.58 g/t Au over 1 m (3.28 ft) and 15.98 g/t Au over 1 m (3.28 ft) in hole BJ-19-17 and 13.30 g/t Au over 1.0 m (3.28 ft)  in hole BJ-19-18.   

Interestingly we analyzed for cobalt in the area of mineralization. In hole BJ-19-18 the cobalt content averaged 0.031% Co over 14 m (45.93 ft) including 0.033% Co over the 9.20 m (30.2 ft) of the mineralized zone. In hole BJ-19-17 the cobalt content over the two mineralized sections assayed 0.023% Co over 12.47m (40.9 ft) and 0.022% Co over 5.9m (19.36 ft). More work needs to be done regarding this potential byproduct.

As yet, the true width of the C-3 Zone intersections has not been determined but is thought to be from 55% to 65 % of the intersection widths.

Jack Stoch, P.Geo. President and CEO of Globex Mining Enterprises Inc. and Chibougamau Independent Mines Inc. wrote this press release in his capacity as QP under applicable regulations.

Laboratory and Assay Methods

Chibougamau Independent Mines’ core sampling including the quality assurance/quality control program is performed internally by Chibougamau Independent Mines personnel under the immediate supervision of Chibougamau Independent Mines project geologist. The samples are prepared in the field, they are tagged and sealed in plastic bags and are delivered directly by Chibougamau Independent Mines personnel to Expert Laboratories Inc, located at 750-A, rue Saguenay, Rouyn-Noranda.  The laboratory conducts all aspects of the sample preparation including drying and crushing to a minus 10 mesh screen size and the processing of a 300 gram sub sample for pulverization to a nominal minus 200 mesh size with the remaining crushed reject material being retained for storage.  For gold assaying, a 29.16 gram sub-sample of the pulp (1 assay-ton) is taken, fused following the standard procedures used in a fire assay method. The gold content of all samples is determined using atomic Absorption Spectroscopy.  Samples containing greater than 3gpt gold are subjected to a re-assay whereby the gold content is determined using a gravimetric fire assay method. For base metal assaying (copper, zinc including silver and cobalt) a 0.5g sample is initially treated by aqua regia digestion with nitric and hydrochloric acid and subsequently analyzed by a spectrometer of atomic absorption finish.

Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and reference accredited low/high grade standards at 20 sample intervals in Chibougamau Independent Mines’ sample stream .This is in addition to the routine blanks, duplicates (gold, silver, copper, zinc and cobalt) and accredited standards insertion by Expert Laboratories during the course of the assaying process.

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 Companies expectations and projections. A more detailed discussion of the risks is available in the current Globex’s “Annual Information Form” available on SEDAR at