Globex Mining Enterprises Inc. T.GMX

News Release- Update

[mamoth]

EXPLORATION UPDATE ON GLOBEX’S PROPERTIES Rouyn-Noranda, Quebec, GLOBEX MINING ENTERPRISES INC. (“Globex”) (GMX-Toronto Stock Exchange) is pleased to provide an update on several exploration projects. A diamond drill is presently on Globex’s 100% owned Lyndhurst property in Destor Township, Quebec. Two drill holes are targeted to sample the #1 Zone which is a silica – copper, silver zone southeast of the old mine. Once the Lyndhurst drilling is complete, the drill will be moved to Larder Lake, Ontario to test two geophysical targets on Globex’s Laguerre - Knutson gold property. Dependant on available funds, the drill will then be moved to Ligneris Township, Quebec northwest of Amos to test at depth, the Tut gold showing below an historic drill intersection of 6.29 g/t Au over 5.7 m. Independent of the drilling already described, drilling is scheduled to start on or about October 12th on the Globex – Queenston joint venture Wood – Pandora property in Cadillac Township, Quebec (see press release dated September 14, 2004). Also, Globex has received confirmation that Platte River Gold Inc. plans, by late November, to commence drilling on Globex’s Bell Mountain gold property in Nevada. Work has already started on the project consisting principally of surface and underground mapping and sampling in the area of the known resource. On Globex’s 50% owned Duquesne West property in Duparquet and Destor Townships, Quebec, Globex has received notice from Queenston Mining Inc. that they will not proceed into the second year of the option. Queenston has just completed a third and final drill program consisting of three drill holes, one targeting the newly discovered South 43 East Zone and two targeting the Liz Zone. DQ-04-26 intersected 3.8 g/t Au over 2.2 m in the South 43 East Zone while holes DQ-04-27 and 28 returned low gold values to the west of previous drilling in the Liz Zone. In addition, hole DQ-04-27 intersected 3.6 g/t Au over 3.8 m (including 24.9 g/t Au over 0.5 m) while DQ-04-28 returned 3.3 g/t Au over 0.9 m in extensions of the drill holes to the Fox Zone. Queenston drilled 15 holes totalling 9,733 m (31,933 feet), “primarily targeting the Liz Zone”. The excellent exploration effort by Queenston was focused on the Liz Zone and not on the numerous other gold zones indicated in previous drilling which make up the bulk of the known gold resource. Vedron Gold Inc. has just completed a first phase 8 hole drill program on Globex’s Ramp property, northeast of Matheson, Ontario. Assays are pending. Also, Dianor Resources Inc. has completed a drill program on Globex’s Pacaud diamond property near New Liskeard, Ontario. Samples are out for analysis. For further information, contact: Jack Stoch, P.Geo, President Tel.: [phone] Globex Mining Enterprises Inc. Fax: [phone]th Street Email: [e-mail] Rouyn-Noranda, Quebec (CANADA) J9X 2J3 Web Site: www.globexmining.com