Globex Update: Turner Falls Rare Earths Project

ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Dec. 6, 2011) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that over the late summer and fall seasons, a team of geologists and geophysical technicians undertook mapping, sampling and geophysical surveys on the Turner Falls rare earths property in the Kipawa area of Quebec.

Over 550 new data points of detailed geological observations were recorded and 230 new rock samples collected of both, mineralized and un-mineralized rocks, and sent for assaying in order to define mineral content as well as to establish background values.

In addition to previously located rare earth occurrences (see press releases dated February 1, August 19 and August 26, 2010 and January 17, 2011), ten (10) new outcroppings of rare earth bearing mineralization were found.

Globex has finally received the analysis from ALS Minerals in Vancouver of all 230 samples. Assays received in 51 grab samples were above the upper detection limit measurable using the Inductively Coupled Plasma - Mass Spectroscopy (ICP-MS) method. The samples must be re-analysed using 4% nitric acid dissolution in order to accurately define the high assays. Please note that grab samples are selective samples, in this case, taken for assay due to anomalous readings taken in the field for TiO₂ and Yttrium (Y) using a portable Delta XRF instrument. They are not necessarily representative of the average grade of any zone or outcrop.

Due to the large number of yet to be received re-assays, Globex will release results only once all the re-assays have been received and compiled.

This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

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 expectations and projections of Globex Mining Enterprises Inc. ("Globex"). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com

22,726,241 shares issued and outstanding