Latest news from Globe Metals & Mining

Dear Eric,

Globe has today released to the Australian Stock Exchange an Exploration Target for its Kanyika Niobium Project in Malawi, Africa, increasing the current 20 year mine life to 40+ year mine life potential.  Click here to go to the full announcement. Highlights include:

?         Exploration Target of 100-110 Million tonnes at grades of 2,900 - 3,200ppm Nb₂O₅ (inclusive of current 55Mt Indicated & Inferred Resources)

?         High-grade Exploration Target component of 40-50Mt @ 3,700 - 4,000ppm Nb₂O₅ (inclusive of current 24Mt @ 3,800ppm Nb₂O₅ Indicated & Inferred Resources)

?         If the Exploration Target is achieved, high grade material could provide feed for the first ~15 years of planned production, and total mine-life could be in the order of 40+ years

This release follows Globe announcement on 19 August 2009 that Thuthuka Group Limited, a South African world class multi-disciplinary engineering company, entered into a formal joint venture agreement with Globe to invest US$10.6 million to earn a 25% interest in the Project.  The US$10.6 million investment by Thuthuka will fund ~85% of the estimated cost of the bankable feasibility study into the Project, which commenced with immediate effect.

If you require further information, please contact Globe on +618 9486 1779.

Ground Floor

Suite 3, 16 Ord St

West Perth WA 6005

P.O. Box 1811

West Perth WA 6872

T: +618 9486 1779

W: www.globemetalsandmining.com.au

F: +618 9486 1718

E: info@globemetalsandmining.com.au