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Globe Metals & Mining: March Quarter 2012 Activities Report

April 30, 2012 (Source: Globe Metals & Mining) — Globe Metals & Mining (“Globe” or “the Company”; ASX: GBE) is pleased to present its March Quarter 2012 Activities Report:

Highlights

Kanyika Niobium Project

DFS on track for completion in December 2012; first production of ferro-niobium planned for 2015

Updated financial model (Pre-DFS) shows robust economics under a range of scenarios; NPV US$300m

13,000m infill drilling campaign underway

Mount Muambe REE-Fluorite Project

Discovery of three new, substantial, shallow REE zones – demonstrating potential for large tonnages of REE mineralisation

All REE zones open at depth and laterally in most directions  – many holes ended in mineralisation. Best results include:

46m @ 2.6% TREO inc. 20m @ 3.3% TREO (from 24m; ended in 3.5% TREO; Zone AA)
49m @ 2.5% TREO inc. 20m @ 3.5% TREO (from 20m; ended in 3.6% TREO; Zone BB)
60m @ 2.1% TREO inc. 24m @ 2.6% TREO (from 20m; ended in 2.7% TREO, Zone DD)

High-grade maiden Inferred Fluorite Mineral Resource announced on the 9th March 2012, delineated after just two years with 71 holes for 5,286m; estimated at 1.6 Mt @ 19% CaF2 containing 310 K tonnes of CaF2

Metallurgical test work program to commence on drill core following the completion of the diamond component of the 2012 drilling campaign

Memba Titanium-Iron Project

Globe to earn up to 90% through staged exploration

2012 trenching program and regional exploration program due to commence in May

Cash at end of quarter A$36m (as at 31 March 2012)

What were the specific activities and projects mentioned in the March Quarter 2012 report that could impact the community health post near the Niobium project in Malawi?

The March Quarter 2012 report outlined various activities and projects that could impact the community health post near the Niobium project in Malawi. Specifically, the report mentioned the “globe metals health initiative” as a key project aimed at improving the overall health and well-being of the community.

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