Magusi Mineral Resource Announced By Globex Partner

GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(PINK SHEETS: GLBXF) wishes to inform shareholders that First Metals Inc. (TSX: FMA) have reported a new NI 43-101 compliant mineral resource at the Magusi Project near Rouyn-Noranda, Quebec.

A 20,000 meter, 20m x 20m infill drill program to a depth of 350m was completed and reported in a NI 43-101 conformable report by Scott Wilson Roscoe Postle Associates Inc. as of October 31, 2008.

The results reported below are reproduced from First Metals press release dated February 9, 2009. Notes:

1.CIM definitions were followed for Mineral Resources.

2. Mineral Resources are estimated at a cut-off of $80 NSR/tonne.

3. Mineral Resources are estimated using an average long-term copper price of US$2.50 per pound, a zinc price of US$0.75 per pound, a gold price of US$800 per ounce, a silver price of US$13.50 per ounce and a US$/CAN$ exchange rate of 1.00 to 1.11.

4. Grade interpolation was carried out with inverse squared distance (ID2) method.

5. The Company provided Scott Wilson RPA with NSR multipliers per metal unit. Those NSR multipliers which vary in function of head grades and metal recoveries are based on SGS Lakefield metallurgical tests. The NSR values for each assay as well as each block in the model were then calculated.

6. Minimum underground mining width of two metres was used.

A permit to remove and process a 50,000 tonne bulk sample was received and site preparation, upgrading of road access, infrastructure installation and collaring of the ramp have been done.

Metallurgical test work by SGS Lakefield was undertaken and has been for the most part completed although the press release gives no details.

First Metals also started discussions in order to facilitate a restructuring plan under a Notice to Make a Proposal under the Bankruptcy and Insolvency Act. Globex's royalty interest is registered against title and Globex believes that in the worst case, should First Metal go bankrupt, that Globex's royalty will be payable by whoever acquires the property.

This press release was written by Jack Stoch, P. Geo. President and CEO of Globex in his capacity as a Qualified Person Q.P.

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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 Company's expectations and projections.