Progress Toward Production at Globex’s Bell Mountain Nevada Royalty Property

About this update from Globex Mining Enterprises Inc.

TORONTO, June 22, 2026 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that Lincoln Gold Mining Inc. (LMG-TSXV) have reported that the Bell Mountain gold-silver project located in Churchill County, Nevada on which Globex holds a 3% Gross Metal Royalty (3% GMR) “is fully permitted and is at the construction financing stage. The mineral claims, water pollution control permit, BLM plan of operations, core mineral tenure and principal operational permits have been consolidated. Lincoln finalized the Bell Mountain acquisition on January 6, 2025, and completed an updated Preliminary Economic Assessment (PEA) for the project and prepared a six-month financial plan for the first stage of the project’s development. The company is now in the process of arranging construction financing”. Construction costs are estimated t be in the range of US$25-$30 million, plus bond requirements. Construction is estimated to take between 8 to 10 months. A NI 43-101 Technical Report titled “Technical Report on the Bell Mountain Project Updated Preliminary Economic Assessment (PEA) was prepared by Welsh Hagen Associates of Reno, Nevada, effective July 23, 2024, with a reporting date of January 6, 2025. Randall K. Martin, SME-RM a Mineral Modeler/Mine Planner, working as a consultant for WHA is responsible for the mineral resource estimate reported in Table 1.1 below as published in the NI 43-101 report, page 1-9, available on Sedar. Mr. Martin is a Qualified Person (QP) as defined by NI 43-101 and is independent of Lincoln Gold. Potentially open pit minable Measured and Indicated Resource in the 4 zones (Spurr, Varga, Sphinx and East Ridge) total 45,832 gold equivalent ounces and 27,147 Inferred gold equivalent resources. Significant exploration potential remains to add gold and silver ounces to the resource. Note that a gold price of US $1,950/oz. and silver of US $24.00/oz. were used in the resource calculations. Gold is currently twice that price and silver almost three times. Projected 2026-2027 work includes finalizing the pace of operations, obtaining construction financing, beginning earthworks and construction of the pl...

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