PEA Completed on Globex’s Bell Mountain Royalty Property

ROUYN-NORANDA, QUÉBEC–(Marketwired – Oct. 16, 2017) – GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that Eros Resources Corp (TSX VENTURE:ERC) has reported upon a new Preliminary Economic Assessment (PEA) on Globex’s Bell Mountain Royalty Property located in Churchill County, Nevada.

The PEA by Welsh Hagen Associates of Reno Nevada was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is summarized in a technical report entitled “NI 43-101 Technical Report on the Bell Mountain Project Preliminary Economic Assessment, Churchill County, Nevada, USA” and will be filed by Eros on Sedar within 45 days.

The study utilized a gold price of US $1,300/oz and silver price of US $17.50/oz and shows a 4 year mine life, producing 60,056 oz Au and 408,498 oz Ag. Globex retains a 3% Gross Metal Royalty at a gold price of over US$ 1,200/oz. This translates into royalty payments, over the 4 year mine life, of approximately US $2.55 million (CDN $3.17 million).

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