From Exploration to Resource Growth: Globex Mining’s Partnership Strategy at Work

Backed by the strength of a lavishly funded treasury, Globex Mining Enterprises Inc. (CA: GMX – $2.24 & US: GLBXF – $1.55 & GER: G1MN – €1.30) has performed as one of the more active junior explorers for many years. This commitment to fieldwork has also led to numerous significant resource discoveries and contributed to the creation of shareholder value.

However, Globex’s own exploration activities tell only part of the story. The work completed to advance individual properties has frequently attracted other companies seeking to acquire projects through potentially lucrative option agreements. Over time, the legacy of these successful transactions has created an increasingly powerful engine for growth.

Today, Globex shareholders benefit from a portfolio of projects being advanced by a number of active partners. Regular updates provide a snapshot of the progress being made across these properties, many of which are advancing simultaneously.

This update highlights exploration results from Emperor Metals [AUOZ-CSE] at the Duquesne West gold project in Quebec. This property was optioned from Duparquet Partners, a subsidiary company of which Globex controls 50% ownership. Emperor has completed several extensive drilling programs at Duquesne West and continues to expand the impressive gold resources of the project.

A newer addition to the roster of active partners, Albright Metals Ltd. [ABR-ASX] is also building value in the field. The company presented a Mineral Resource Estimate (MRE) at the end of last month for the Vail Road Gold Deposit. This report is compliant under the rigorous standards for Australian-listed resource companies. The Vail Road project is emerging as a high-grade gold development prospect in New Brunswick. Globex holds a minority ownership position in Albright through shares received as consideration for optioning the project. Globex also retains a 2% GMR on the first 20,000 ounces of gold produced from Vail Road, followed by a 3% GMR on all subsequent production.

Attractive Assay Results from Emperor’s Ongoing Drilling at Duquesne West

Option partner Emperor Metals released two separate batches of assay results from ongoing drilling at the Duquesne West gold property.

The first set of results included a 24.1-metre interval averaging 2.6 g/t gold, including a substantial 7.1-metre sub-interval grading 7.5 g/t gold. One of the key objectives of the current exploration program is to identify wider and more robust high-grade gold intervals, and these results provided encouraging evidence that this objective is being achieved. A second batch of assays included an impressive 32-metre interval averaging 5.9 g/t gold.

Results have now been reported for 44 of the 66 drill holes completed in the current program. Assays remain pending for approximately 32% of the drill holes, representing roughly half of the total samples submitted to date.

Importantly, infill drilling has successfully intersected mineralization that appears both wider and higher grade than the historic resource zones identified by previous operators. As exploration continues, the mineralization is also being interpreted as more continuous than originally expected, further strengthening confidence in the geological model.

Emperor completed a compliant MRE for Duquesne West in 2025, outlining an Inferred Resource of nearly 1.5 million ounces of gold. A significant amount of additional drilling has been completed since that estimate, with an updated resource planned to incorporate the new gold zones identified through ongoing exploration.

The established gold resource is therefore expected to increase significantly. Emperor also anticipates that some portions of the existing Inferred Mineral Resource could be upgraded to the Indicated category when the pending NI 43-101 MRE update is completed.

The next major milestone will be the advancement of Duquesne West toward a Preliminary Economic Assessment, moving the project another step along the pathway toward potential mine development.

Albright Metals Reports Mineral Resource Estimate for Vail Road

Albright Metals announced another encouraging milestone at the Vail Road Gold Property in New Brunswick. The company reported a Mineral Resource Estimate (MRE) incorporating geological data and assay results, including data generated through its recent drilling program.

The estimate was prepared in accordance with the Australian JORC 2012 Code, a widely recognized reporting standard that is generally considered comparable to the NI 43-101 framework used by Canadian companies.

Formerly known as the Devils Pike gold/antimony project, Vail Road was acquired from Globex through an option agreement in 2025. Previous operators had already identified high-grade gold intervals within the project area, contributing to its acquisition appeal.

Albright’s management, however, believed that untested areas surrounding the historic resource zones could provide significant opportunities to expand the resource base. The company subsequently completed 15 drill holes totaling more than 1,000 metres of drilling to further define and upgrade the deposit.

The project also offers exploration potential for antimony, tin, indium and zinc, providing additional upside beyond the currently defined gold resource.

Only two years into the four-year option term, Albright has already been able to upgrade the historic resources and incorporate more recent exploration results into a compliant MRE.

The resulting estimate comprises 188,000 tonnes grading an average of 9 g/t gold, representing approximately 54,200 ounces of contained gold.

Within this overall resource, an Indicated Resource of 33,500 tonnes grading 20.9 g/t gold has been defined, representing approximately 22,500 ounces of contained gold.

Conclusion

The progress reported by Emperor Metals and Albright Metals again illustrates the value of Globex’s project-generator strategy. Successful exploration can deliver significant increases in resource size, improve confidence in the geological model and move projects further along the development curve toward potential mine construction.

Each stage of this process matters. Drilling can identify new mineralized zones, increase the density of geological information and support the conversion of resources into higher-confidence categories. As confidence increases and resources grow, the underlying value of a project can increase accordingly.

However, advancing mineral projects requires substantial capital and an enormous amount of technical work. This is precisely where Globex’s project-generator strategy becomes particularly valuable. By attracting capable partners to its properties, Globex can leverage third-party capital and expertise to advance projects while retaining meaningful exposure to their future success.

Through its option agreements, Globex receives recurring payments in cash and shares from its partners. At the same time, the Company retains royalty interests in several properties, potentially providing an additional source of cash flow should these projects ultimately reach production.

With multiple properties currently being advanced by partners, alongside Globex’s own exploration activities, the Company has a substantial pipeline of potential catalysts ahead. Adding to this outlook is the continuing strength of the broader metals market.

Further reinforcing its focus on shareholder value, Globex has received TSX approval for a new normal course issuer bid (NCIB), allowing it to repurchase and cancel up to 1,000,000 common shares, representing approximately 1.76% of its issued and outstanding shares as of October 1, 2026. The twelve-month program runs from October 15, 2026, through October 14, 2027. Under its previous NCIB, Globex repurchased 164,200 shares at a volume-weighted average price of $2.186 per share. The new program provides the Company with continued flexibility to buy shares when necessary. Smallcaps Recommendation: BUY.

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