ROUYN-NORANDA, QUEBEC -- (MARKET WIRE) -- 06/08/2006 -- GLOBEX MINING ENTERPRISES INC. (TSX: GMX) (FRANKFURT: G1M) (PINK SHEETS: GLBXF) and QUEENSTON MINING INC. (TSX: QMI) (STUTTGART: QMI) are pleased to announce gold intersections in three drill holes recently completed on the "New Gold Discovery" at the Wood-Pandora (50%-50%) Joint Venture property, located in Cadillac township, Quebec. The JV also is releasing the results of drilling along the "Cadillac Break" near the Wood Mine completed earlier this year on the same property.

"New Gold Discovery" Drill Program

The highlight of the drilling is the intersection of significant gold mineralization in all three holes including:

- 4.98 g/t Au (0.15 oz/ton) over a core length of 9.91 m (32.51 ft)
in hole W06-25
- 8.94 g/t Au (0.26 oz/ton) over a core length of 28.10 m (92.20 ft)
in hole W06-26, and
- 10.47 g/t Au (0.31 oz/ton) over a core length of 11.00 m (36.10 ft)
in hole W06-27
The drilling follows-up on a new gold discovery announced by the JV on March 6, 2006 where three holes intersected significant gold values in a pyrrhotite and arsenopyrite sulphide zone. The deepest of the discovery holes, W06-22, intersected a core length of 45.8 metres (150.3 ft) grading 22.6 g/t Au (0.66 oz/T) at a vertical depth of 135 m. The current program is targeted at establishing the extent, dip, strike and plunge of the new discovery and firmly establishing an accurate true width.

Hole W06-25 was drilled from south to north to intersect the zone at a vertical depth of 140 m and 25 m west of hole W06-22. The hole intersected 9.91 m (32.51 ft) of pyrrhotite-arsenopyrite mineralization which assayed 4.98 g/t Au (0.15 oz/T Au) over an estimated true width of 7.75 m (25.4 ft). The best interval within the zone averaged 7.98 g/t Au (0.23 oz/T) over a core length of 4.50 m (14.76 ft) with an estimated true width of 3.51 m (11.5 ft). It is interpreted that the hole intersected the upper edge of the mineralized zone.

Hole W06-26 was drilled from the same location as W06-25 but at a steeper angle to intersect the zone at a vertical depth of 177 m or 37 m (121 ft) below W06-25. This hole intersected a thick zone of semi-massive pyrite cut by barren calcium carbonate veins. The entire zone assayed 8.94 g/t Au (0.26 oz/T) over 28.10 m (92.2 ft) over an estimated true width of 19.06 m (62.53 ft). The best interval within the zone averaged 22.61 g/t Au (0.66 oz/T) over a core length of 6.40 m (20.99 ft) with an estimated true width of 4.34 m (14.2 ft).

Hole W06-27 was drilled from south to north intersecting the zone 74 m (242.8 ft) below W06-22 at a vertical depth of 210 m. The hole intersected 11.0 m (36.09 m) of semi-massive pyrite which assayed 10.47 g/t Au (0.31 oz/T) over an estimated true width of 7.46 m (24.48 ft). The best interval within the zone averaged 22.35 g/t Au (0.65 oz/T) over a core length of 3.75 m (12.30 ft) with an estimated true width of 2.54 m (8.33 ft). Hole W06-27 is the deepest hole in the gold zone to date.

The JV is encouraged with the continued good grades and widths of the mineralized zone intersected in the drilling. The New Gold Discovery remains open and drilling continues to determine its extent and geological characteristics.

"Cadillac Break" Drill Program

Earlier this year the JV completed a Phase 4, nine hole diamond drill program along the Cadillac Break in the vicinity of the historic Wood Mine. This program's aim was to follow-up on significant gold mineralization encountered in the D Zone (8.51 g/t Au over a core length of 28.00 m) and C Zone (Mudstone) (68.19 g/t Au over a core length of 1.5 m) both encountered in hole W05-09 during the Phase 3 program. Details of the Phase 3 drill program were announced in news releases issued on November 23, 24 and December 5, 2005. Upon further evaluation and final assay results the D Zone intersection in hole W05-09 has been revised to average 6.87 g/t Au (0.20 oz/T) over an estimated true width of 17.46 m (57.28 ft).

The nine holes were drilled within a 200 m area around the D Zone intersection in hole W05-09. Three prominent zones were intersected within the Cadillac Break all reporting encouraging gold mineralization. From south to north, the zones are referred to as the D, North Contact (NC) and C.