Multiple REE zones in Mozambique/Obama criticises China over REE policy

Dear Eric,

Globe is pleased to announce the discovery of three new, substantial zones of rare earth mineralisation at the Mount Muambe REE � Fluorite Project in Mozambique, with a number of wide intercepts over 2-3% TREO. Read the ASX release.

These very significant discoveries come at a time when the political temperature over China�s rare earth policy is heating up - overnight, US President Obama accused China of breaking global trade rules by restricting exports of rare earth elements [watch video link].. Comments such as these will only serve to highlight the importance of substantial REE deposits outside of Mainland China. Globe is of course very well positioned among the new class of companies likely to be developing a REE project in the future, due to its strategic partnership with the Chinese State Owned Enterprise ECE. This relationship will be of increasing importance in the ever-changing REE landscape.

Highlights

	Three new, substantial, shallow REE zones discovered at Mount Muambe � potential clearly demonstrated for large tonnages of REE mineralisation
	All zones open at depth and open laterally in most directions � many holes ended in mineralisation
	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) 47m @ 1.7% TREO inc. 17m @ 2.4% TREO (from 14m; ended in 2.9% TREO; Zone BB) 60m @ 2.1% TREO inc. 24m @ 2.6% TREO (from 20m; ended in 2.7% TREO; Zone DD) 28m @ 2.1% TREO inc. 12m @ 2.9% TREO (from surface: Zone DD)
	A Diamond and RC rig have mobilised to Mount Muambe to begin the substantial 2012 drilling campaign
	Metallurgical testwork program to commence on drill core following the completion of the Diamond component of the 2012 drilling campaign
	High-grade maiden Inferred Fluorite Mineral Resource estimate of 1.6Mt @ 19% CaF2 containing 310K tonnes of fluorite announced 9 March 2012

I am extremely excited to share these new discoveries with you; our exploration team is looking forward to drilling these new targets out in 2012.