Globex Mining Benefits from Solid Progress at Bald Hill, O’Brien, and Mont Sorcier

The exceptional portfolio of mineral properties held by Globex Mining Enterprises Inc. (CA: GMX – $2.30 | US: GLBXF – $1.68 | GER: G1MN – €1.36) provides a strong foundation for growth amid the ongoing bull market in the resource sector. Through its successful project-generator strategy, Globex has partnered many of its properties with capable exploration and development companies, which independently advance the projects along the value curve. This model gives Globex significant exposure to exploration and development success while minimizing direct funding requirements, as partner companies finance the work programs. As a result, Globex benefits from participation in a broad pipeline of active projects—far more than any single company could realistically manage on its own.

Globex Recently highlighted encouraging progress from three of its partner companies. In New Brunswick, Antimony Resources Corp. reported the identification of several new exploration targets, with a drilling campaign scheduled to begin shortly. In Quebec, Radisson Mining Resources Inc. continues to aggressively advance the prolific O’Brien Gold Project, where expanding gold resources could significantly enhance the value of Globex’s royalty interests. Meanwhile, Cerrado Gold Inc. appears to be approaching a key development milestone at the Bald Hill project, with a long-awaited Feasibility Study expected this quarter.

Major Development Milestone Nears at Mont Sorcier

Globex shareholders have closely followed the progress achieved by royalty partner Cerrado Gold [CERT-V] over the past several years as it advanced the Mont Sorcier high-grade iron project toward development. Multiple drilling campaigns successfully defined and expanded the deposit, establishing Mont Sorcier as a credible future mining operation.

Cerrado has already delivered a positive PEA for the project, outlining an estimated after-tax Net Present Value (NPV) 8% of approximately US$1.6 billion. Metallurgical testing also confirmed the ability to produce a premium 67% iron concentrate. This high-grade product could position Mont Sorcier as an important supplier of raw material for Green Steel production, where higher-purity iron concentrates help reduce emissions during the steelmaking process.

The company is now focused on completing a Feasibility Study (FS), a critical step toward potential mine construction. To support this work, Cerrado recently completed 17,890 metres of infill drilling aimed at upgrading more of the resource into the higher-confidence Proven and Probable categories.

At the same time, the company continued advancing permitting initiatives and strengthening its social license efforts. In November 2025, Cerrado acquired an additional 22 mining claims adjacent to the core property package, securing additional land for future infrastructure requirements related to mine development.

With many of the key preliminary requirements now addressed, Cerrado is awaiting final completion of the Feasibility Study, which is anticipated during the second quarter of this year.

For project developers, a positive FS represents a major milestone that can significantly accelerate the path toward mine construction. It would also mark an important catalyst for Globex, which retains a 1% GMR (Gross Metal Royalty) on all metals potentially produced from Mont Sorcier.

Newly Defined Target Areas Expand the Potential at Bald Hill

Antimony Resources Corp. [ATMY-CSE] provided an update on exploration progress at the Bald Hill Antimony property. Step-out drilling successfully extended the Main Zone of stibnite mineralization both eastward and westward.

In addition to expanding the Main Zone, the company identified several entirely new antimony targets across the property. Surface trenching west of the Main Zone intersected massive stibnite mineralization in what is now known as the Marcus Zone. ATMY also delineated the South Zone, located roughly one kilometre south of the Main Zone. Another target, the Central Zone, situated just 150 metres from the Main Zone, returned a notable channel sample interval of 8.1 metres averaging 2.8% stibnite.

Moreover, ATMY highlighted a particularly impressive drill intercept. A 3.15-metre interval returned an average grade of 9.76% stibnite—one of the strongest assay results reported to date from the current program. This intercept extends the Main Zone both northward and at depth.

Total drilling completed during the current campaign had reached approximately 13,000 metres, supported by two active drill rigs on site. Since acquiring the property, Antimony Resources has now drilled roughly 25,000 metres focused on the Main Zone.

Antimony Resources expects to undertake an additional 13,000 metres of drilling on the Main Zone to expand mineralization to depth and along strike. An additional 6,000 metres of drilling is planned to better define the Marcus, Central, and South zones, which are in close proximity to the Main Zone.

To date, the Main zone has been outlined over a strike length of over 600 metres, to a depth of 350 metres, with average widths ranging between 4 to 5 metres and a grade averaging approximately 3% to 4% antimony. Globex retains a 3.5% Gross Metal Royalty on Bald Hill.

Step-Out Drilling Strengthens the Value of Globex Royalty Holdings

Encouraging exploration results were also reported by Radisson Mining Resources Inc. [RDS-V] as drilling continues at the O’Brien Gold Project in Quebec. The latest batch of assay results included the deepest gold-bearing interval encountered to date, intercepted at a vertical depth of 1.9 kilometres.

The reported grades were particularly impressive, including one-metre subintervals grading 16.85 g/t and 12.87 g/t gold within a broader 12-metre mineralized interval averaging 4.54 g/t gold. This hole targeted the down-dip extension of the established Trend 1 gold structure, one of several mineralized trends identified across the property.

The discovery is especially interesting for Globex shareholders because the intercept lies near the western boundary of the Kewagama claims, where Globex retains a 2% NSR royalty. Trend 1 appears to plunge toward these royalty claims, raising the possibility that continued exploration could eventually confirm mineralization extending into this area. Trend 2 has already been encountered within the Kewagama claims, while Trends 3 and 4 are located entirely within the royalty ground controlled by Globex.

Radisson completed a Preliminary Economic Assessment (PEA) for O’Brien in 2025 outlining a potential development scenario for the project. The study envisioned production totaling approximately 740,000 ounces of gold from currently defined resources. Notably, about 22% of this projected production would come from the Kewagama claims.

Current total resources at O’Brien stand at approximately 2.32 million ounces of gold, with 20.6% located within the Kewagama royalty area. In addition, Globex retains a 1% NSR royalty on the Thompson Cadillac (New Alger property) claims situated along the eastern portion of the O’Brien project.

Conclusion

These latest updates showcase several advanced-stage projects moving steadily toward potential mine development. Globex maintains royalty exposure across these assets, creating increasing value as partner companies continue to advance each project through key development milestones.

At Bald Hill, ATMY’s aggressive exploration campaign continues to deliver strong antimony intercepts, while newly identified target zones suggest the potential for substantial resource expansion. Meanwhile, Radisson’s extensive drilling activity at the O’Brien Gold Project has already helped define multi-million-ounce gold resources, with additional upside still possible within the royalty claims held by Globex.

At Mont Sorcier, Cerrado Gold appears to be nearing a transformational milestone after more than a decade of work. The anticipated completion of a Feasibility Study could significantly advance the project toward eventual production, further enhancing the value of Globex’s royalty position.

Together, these projects, funded by partner companies, demonstrate the strength and scalability of the Globex business model. By vending attractive properties to capable operators, Globex secures upfront payments while maintaining long-term royalty exposure to future production success.

To put the scale of this strategy into perspective, Globex currently participates in the upside potential of 116 individual properties through option agreements and retained royalties. With such a diversified portfolio of active projects, the Company is uniquely positioned to benefit from ongoing exploration success and development progress across multiple commodities and jurisdictions.

Every milestone achieved by its partners, in addition to Globex’s ongoing self-funded exploration, contributes to the long-term value proposition for Globex shareholders. Smallcaps Recommendation: BUY.

For important disclosures, please read our disclaimer.