Feasibility Study on Globex’s Mont Sorcier Royalty Due in Q2
TORONTO, April 08, 2026 (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 Cerrado Gold released an update in their Q4 and Annual 2025 Financial Results disclosure as regards progress on Globex’s 1% Gross Metal Royalty Mont Sorcier iron project located just east of Chibougamau, Quebec. Their April 2, 2026, press release indicates that the feasibility study should be available in Q2 2026 and 17,890 m of infill drilling was completed in 2025 in support of resource definition for the feasibility study. Globex is very pleased by the progress to date. Please access a copy of the full disclosure from .
Mont Sorcier
At the Mont Sorcier high-grade iron project operated by Cerrado’s wholly owned subsidiary, Voyager Metals Inc., work continued to advance the project with several workstreams related to permitting, social license, and the initiation of the Feasibility Study, which is targeted to be completed during Q2 2026. During 2025, Voyager completed its targeted infill drilling program of 17,890 metres in order to update sufficient resources to the Proven and Probable categories, as required to support the ongoing feasibility study.
In November 2025, Voyager acquired an additional 22 mining claims on properties adjacent to its existing block. These new claims provide additional capacity for infrastructure development on Voyager’s existing claims and provide a buffer around the core development area.
Anticipated production of high quality 67% grade iron concentrate is expected to ideally position the Mont Sorcier project to support the growing global Green Steel transition due to the reduced emissions generated by steel producers using high-grade concentrates. The Bankable Feasibility Study will look to expand the potential for the project that was highlighted in the previous 2022 NI 43-101 Preliminary Economic Assessment ("PEA") that delivered a project NPV8% of US$1.6 Billion based upon iron concentrates grading 65% iron. With the improved metallurgical results received to date, the Company believes it can deliver a high-purity DRI-grade iron ore concentrate product of over 67% iron, which is a highly desired product to support the Green Steel transition.
This press release was written by Jack Stoch, P. Geo., Executive Chairman and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. Executive Chairman & CEO Globex Mining Enterprises Inc. 120 Carlton Street, Unit 219 Toronto, Ontario, Canada M5A 4K2 | Tel.: 819.797.5242 Fax: 819.797.1470 |
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 .
