GLOBEX MINING ENTERPRISES INC. provided update to shareholders as regards the work undertaken by Kiboko Gold Inc. on the Fontana area of the Harricana Gold Project, in Duverny township, Quebec (NTS 32C12). Globex retains a 2% Net Smelter Royalty on Harricana Gold Project claims, including the areas currently being drilled at Fontana and most of the other areas with known significant gold mineralization. Kiboko recently reported that it has completed the initial portion of their Phase 1 exploration program consisting of 55 holes totaling more 8,000 metres drilled since mid-September.

Drilling has now paused and is planned to restart in early 2023. The winter portion of their Phase 1 exploration program is expected to consist of 12 drill holes totaling 2,600 m. The total Phase 1 program is projected to consist of 67 holes totaling 11,000 m and is expected to be completed in the first quarter of 2023. Kiboko is also targeting to report a maiden near-surface, pit constrained mineral resource estimate on a portion of the Fontana area in the second quarter of 2023.