Globex Royalty Shines as 'Berrigan Deep' Discovery Hits in Quebec

TORONTO, ON – January 30, 2026 – A significant mineral discovery in Quebec's historic Chibougamau mining district is sending ripples through the industry, validating a patient, asset-light business model. Globex Mining Enterprises Inc. (TSX: GMX) announced that operator TomaGold Corporation has intersected a wide zone of high-grade zinc, silver, and gold mineralization on the Berrigan Property, where Globex holds a valuable 2% Gross Metal Royalty.

The discovery, dubbed 'Berrigan Deep,' was confirmed by a drill hole that returned a remarkable 98.5-meter-long intersection of semi-massive sulphides. This result not only suggests the presence of a large, previously unknown mineralized system but also highlights the strategic value of Globex's royalty portfolio, which allows it to benefit from exploration success without incurring the direct costs and risks of drilling.

A Transformative Discovery at Depth

The results reported by TomaGold stem from its 2025 drilling program, with two holes in particular signaling a major breakthrough for the project. Drill hole TOM-25-015 is the star of the announcement, having cut a massive intercept of 0.82 grams per tonne (g/t) gold, 3.21 g/t silver, and 1.97% zinc over a core length of 98.5 meters, beginning at a depth of 451.2 meters.

Within this broad envelope of mineralization were several higher-grade sections that underscore the system's potential. These include a 4.90-meter section grading an impressive 4.69 g/t gold, 18.8 g/t silver, and 4.78% zinc, and a separate 49.35-meter interval averaging 0.90 g/t gold, 3.48 g/t silver, and 3.12% zinc. TomaGold noted that the true width of the mineralization is estimated to be 80-85% of the reported core length.

Another hole, TOM-25-014, also returned strong results from a shallower depth, hitting 4.94 g/t gold, 56.44 g/t silver, and 4.55% zinc over 2.10 meters. This further demonstrates the widespread nature of the mineralization on the property. The discovery of the 'Berrigan Deep' zone is considered particularly important as it remains open for expansion at depth.

In a statement, TomaGold described the results as a game-changer for the project. “Drill hole TOM-25-015 is truly transforming the Berrigan Mine project and highlights a new semi-massive sulfide zone that extends at depth beneath the known zones,” the company stated. “This very encouraging result suggests the presence of a large mineralized system that remains open at depth.”

Revitalizing a Historic Mining Camp

The Berrigan property is located just a few kilometers from the town of Chibougamau, a region with a rich mining history primarily focused on gold and copper. While deep mineralized systems are known throughout Quebec's broader Abitibi greenstone belt, this discovery brings a new exploration model to the Chibougamau camp, suggesting that significant resources may lie untapped beneath historically mined areas.

The property itself is not new to exploration. A 2001 pre-feasibility study, which is now considered historical and not compliant with modern NI 43-101 reporting standards, estimated a resource of 1.39 million tonnes grading 3.17% zinc and 1.77 g/t gold. While this historical data cannot be relied upon, it pointed to the area's potential, which TomaGold's modern exploration techniques are now confirming and expanding upon in dramatic fashion. Adding a modern twist to the discovery, the targets were reportedly validated by an artificial intelligence system from Windfall Geotek, which analyzed historical data to predict favorable geological patterns.

The intersection of zinc, silver, and gold positions the discovery as a polymetallic deposit, offering exposure to a diversified suite of valuable commodities. The presence of semi-massive to massive sulphides is characteristic of Volcanogenic Massive Sulphide (VMS) deposits, which are often large and can be mined in bulk.

Validating the Royalty Creator Strategy

For Globex Mining Enterprises, the news from Berrigan is a powerful validation of its long-term business strategy. The company operates as a project generator and royalty creator, acquiring prospective mineral properties, undertaking initial development, and then optioning them to partner companies who fund and execute larger-scale exploration programs. In return, Globex retains a royalty on any future production, creating potential long-term revenue streams with minimal capital outlay.

This model has allowed Globex to build a robust and diversified portfolio of 269 mineral assets, including 107 royalties, spread across North America and Europe. The company maintains a strong balance sheet, reporting over $40 million in cash and securities with no debt, allowing it to weather market cycles and acquire assets opportunistically.

The 2% Gross Metal Royalty on the Berrigan property means Globex is entitled to 2% of the revenue from all metals produced from the property, before the deduction of most operating costs. A discovery of this magnitude significantly increases the likelihood of the property advancing toward production, thereby turning the royalty from a speculative asset into a potential source of tangible cash flow.

Charting the Path Forward

The 'Berrigan Deep' discovery marks the beginning, not the end, of the story. TomaGold has indicated that it is eagerly awaiting assay results from three additional drill holes and a borehole electromagnetic (EM) survey, which are expected in early February 2026. These results will provide crucial data for understanding the geometry and scale of the mineralized system.

Once all data is received and analyzed, TomaGold plans to launch a new, more aggressive drilling program specifically designed to follow up on and extend the 'Berrigan Deep' zone. The company is already undertaking 2D and 3D modeling to help guide this next phase of exploration, with a focus on testing the mineralized structure both laterally and to greater depths.

While the drill results are highly encouraging, the project remains in the exploration stage. Further drilling will be required to define a compliant mineral resource, and extensive metallurgical test work will be needed to determine the optimal process for recovering the zinc, silver, and gold. Nonetheless, with a wide, high-grade discovery that is open for expansion, the Berrigan project now stands out as a significant development for both TomaGold and its royalty partner, Globex. The industry will be watching closely as the next phase of drilling seeks to define just how large this new Quebec discovery might be.