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Globex Signs Definitive Agreement to Option its Fontana

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Penny Roger$   Tuesday, 11/15/11 01:16:57 PM
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Globex Signs Definitive Agreement to Option its Fontana Gold Project in Quebec to Tres-Or Resources
| 11:23 AM |


OTC and PINK news - 11-15-2011


ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Nov. 15, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to announce that a definitive agreement for the acquisition of Globex's Fontana Gold Project has been completed (refer to news release dated July 5, 2011). Tres-Or Resources Ltd. has been granted an option (the "Option") to acquire the interests of Globex in certain mineral claims in Quebec, being a 75% interest in 16 claims and a 100% interest in a further 6 claims, collectively known as the Fontana Gold Project. The interests of Globex in the Fontana Gold Project will now be subject to a 3% Gross Metals Royalty. The 75% interest in the 16 claims held by Globex are also subject to a 15% Net Profits Interest (the "NPI"). The Fontana Gold Property is located 16 km northeast of Amos in Duverny Township, Quebec and is proximal to Tres-Or's advanced Duvay Gold Project also under option indirectly from Globex.

Related News: Similar Content, TSX:GMX, OTCQX:GLBXF, FRANKFURT:G1M http://www.marketwire.com/mw/release.do?id=1587323&sourceType=3#rssowlmlink



OTC and PINK news - 11-15-2011



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