COMPLII FINTECH SOLUTIONS LTD — Capital/Financing Update 2011

Jun 21, 2011

22 June 2011

ASX/Media Announcement

Livingstonia Uranium Project Inferred JORC Resource Estimate Increases 30% to 6.0 Mlb at 325 ppm eU3O8

Globe Metals & Mining (“ Globe ” or “ the Company ”; ASX: GBE) is pleased to notify the market of a 30% increase in the inferred JORC resource estimate at the Livingstonia Uranium Project in northern Malawi.

Attached is the relevant market release by Globe’s joint venture partner, Resource Star Limited (ASX: RSL). Globe would like to congratulate Resource Star on achieving this increased resource estimate.

Resource Star currently holds a 20% interest in the Livingstonia Uranium Project (Globe 80%), and can earn up to a 51% (total) interest by spending US$3.25 million over a four year period, in addition to its spend in relation to the initial 20% interest.

In the event that Resource Star is able to produce a 10,000 tonne U3O8 inferred JORC resource  estimate within a further two year period (currently 2,700 tonnes), it can earn a total 70% interest in the Project, and a maximum 80% interest upon completion of a feasibility study.

About Globe Metals & Mining Limited

Globe is an African-focused resource company, specialising in rare metals such as niobium, tantalum and rare earths, as well as other commodities including fluorite, uranium and zircon. Its main focus is the multi-commodity Kanyika Niobium Project in Malawi, Africa, which will commence production of ferro-niobium in 2014, a key additive in sophisticated steels.

Globe also has a number of other projects at an earlier stage of development: it is earning up to an 80% interest in the Machinga Rare Earth Project in southern Malawi, and the Company can earn up to a 90% interest in the Mount Muambe REE - Fluorite Project in Mozambique. Initial drill programs on both projects were undertaken in 2010.

Globe has regional offices in Lilongwe, Malawi, and Tete, Mozambique and has its corporate head office in Perth, Australia. The Company has been listed on the ASX since December 2005 (Code: GBE).

In April 2011, the Company entered into a strategic partnership with East China Minerals Exploration and Development Bureau (ECE), a Chinese State Owned Enterprise with extensive mining operations in China and overseas. ECE is now the largest shareholder in Globe, and a key partner for Globe’s growth ambitions in Africa.

For further information please contact:

Mark Sumich, Managing Director, Globe Metals & Mining Limited: +61 8 9486 1779

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ASX Release 22 June 2010

ASX: RSL

LIVINGSTONIA URANIUM RESOURCE INCREASES 30% TO 6.0 MLB AT 325 PPM eU3O8

Resource Star Limited (“Resource Star” or “the Company”) has completed an independent update of the Mineral Resource Estimate for the Livingstonia Uranium Project in Malawi, southeastern Africa. Increases in both tonnes and grade are based on the 1,500m of drilling completed in late 2010, the results for which were announced in January 2011.

Key Results:

Updated JORC-compliant total Inferred Mineral Resource estimate:

	Resource Grade Lower cut-off Mtppm eU~~3~~O	Contained Increased ~~8~~ Mlb eU~~3~~O~~8~~ Metal%
	150 ppm 8.3 325	6.0 +30%

• Multiple horizons of sandstone-hosted uranium have been defined, with possible faultcontrolled trends where the stacked zones merge to provide near-continuous mineralisation. Best intersection to date from LBPE 103: 33.95m @ 338 ppm eU3O8

• The higher grade zone at the northern end of the prospect has been upgraded by recent drilling, and this alone adds 16% of metal to the 2010 Resource at a significantly improved grade of 361 ppm eU3O8.

• An additional area of lower grade material has now been included on the basis of infill drilling, adding a further 14% of metal.

• The independent review concludes that there is excellent potential to identify additional resources. Thickened zones of mineralisation are open to the northeast, and the sparse drilling in the newly included southern zone raises the prospect of more mineralisation and possibly higher grade shoots being defined. The mineralisation is also open to the north where the project adjoins tenements currently being explored by Paladin Energy Ltd.

Upcoming Activities:

• An integrated review of all data collected to date to refine geological modelling and generate further drill targets

• A Conceptual Study assessing development options to better focus data collection requirements

• Follow-up drilling to be completed during 2011

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Resource Star’s Managing Director, Simon Heggen, said:

“This material increase in the Mineral Resource Estimate at Livingstonia is an indication of both the potential of the Project, and the disciplined, scientific work we undertake. Only 1,500m of drilling has added approximately 1.4 Mlb of uranium.

More significantly, it has generated a large increase in the high grade core of the deposit.

We will undertake an integrated geological study of historical data and a desktop conceptual development study to finalise plans for our next round of drilling and testwork, scheduled for 2011.

The growth in the Livingstonia Resource, together with the recently announced, conditional acquisition of a share of the exciting Yuty Uranium Project in Paraguay, and the commencement of work on the Spinifex Project in Western Australia, emphasises the Company’s commitment to growing value for shareholders by identifying, acquiring and exploring projects that can be advanced quickly.”

An updated Inferred Mineral Resource at the Livingstonia Uranium Project has been estimated at 8.3 million tonnes averaging 325 ppm eU3O8 for a contained 6.0 million pounds of U3O8 (or approximately 2,700 tonnes of contained eU3O8) at a lower cut-off grade of 150 ppm eU3O8. The Mineral Resource Estimate (‘MRE’) has been prepared by independent consultants CSA Global Pty Ltd (‘CSA’) and is reported in accordance with the JORC Code (2004) for reporting Mineral Resource Estimates.

Background

The Livingstonia Uranium Project is part of the prospective Karoo-equivalent sedimentary sequence that hosts a number of sandstone-hosted orebodies through southern Africa (Fig 1), such as the nearby Kayelekera Uranium Mine in Malawi, recently commissioned by Paladin Energy Ltd, and Mantra Resources Ltd’s Mkuju River Project in neighbouring Tanzania.

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Figure 1: Livingstonia Location Map showing distribution of the prospective Karoo-equivalent sedimentary basins.

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Mineralisation at Livingstonia was discovered by Globe Metals & Mining Ltd (“Globe”, ASX: GBE), and as announced to the ASX on 16 March, 2010, Resource Star and Globe signed a joint venture agreement to explore the Livingstonia Project. Resource Star is earning up to 80% equity through delivery on project development milestones.

Globe had drilled 95 holes at Livingstonia, for a total of 11,000 metres, during 2007-08 using both reverse circulation (‘RC’) and open hole percussion with a combination of either or both laboratory analysis or downhole gamma probing. Drilling occurred at three prospects, with the majority at the Chombe Prospect.

In July 2010, on the basis of the historical Globe drilling, CSA completed a Mineral Resource Estimate on the Chombe Prospect, and defined an Inferred Resource of 7.7Mt @ 270 ppm eU3O8 using a 150 ppm cut-off.

At the end of 2010 Resource Star completed a program of a further 13 percussion holes for a total of 1,502m on the Chombe Prospect. Mineralised zones were intersected in all but one of the holes, with some significant thick intersections along the eastern edge of the July 2010 Resource boundary.

Mineral Resource Estimation by CSA

This updated Resource modelling has been undertaken on the Chombe Prospect, and is based on a total of 64 RC percussion and 43 open hole percussion drill holes including recent extensional and infill drilling. The drilling is primarily on 50 x 50 and 100 x 100 metre drilling patterns, grading to 200 x 100 to 300 x 200 metre patterns in peripheral areas.

The mineralisation has been interpreted as being contained within a sub-horizontal sedimentary sandstone package bound by a mudstone above and a coal unit below, and is modelled based on geological interpretation and delineation of the mineralisation by equivalent uranium grade derived from downhole gamma readings.

Wireframe surfaces were generated for the hanging walls and footwalls for each mineralised lode based on the sectional interpretations provided by Resource Star to delineate the lodes of uranium mineralisation, using geological interpretation and delineation of the mineralisation (predominantly by equivalent uranium grade). A lower cut-off of 130 ppm eU3O8 combined with the geological information was used to define the mineralised envelopes, and it was assumed that a minimum 3m mining width will be used in an open pit scenario, where possible.

A 0.5m composite data set for individual lodes was used for variography analysis and interpolation. A block model was created using 50mE × 50mN × 1mRL parent blocks. Ordinary Kriging (OK) was used to estimate 3D blocks. A minimum of three composite intervals and a maximum of 16 intervals were used to estimate the eU3O8 grades into each block for the first two search passes. A top cut of 1500 ppm eU3O8 was applied (based on CSA’s experience from similar deposits), and the resource statement contains only the cut grade values. The resource reporting was truncated at 8,827,500mN, which is the northern tenement boundary.

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Figure 2: Livingstonia Resource 3D Model showing stacked lodes. The Livingstonia Chombe mineral resources have been classified and reported in accordance with the 2004 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code, 2004) as Inferred

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Resource. Resource classification is based on confidence in the geological domaining, drill spacing and geostatistical measures. A summary of the resources is shown in Table 1:

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Table 1: Comparison between July 2010 and June 2011 Livingstonia Mineral Resource Estimates.

Note – all figures are rounded to reflect appropriate levels of confidence; apparent errors in addition are due to rounding.

The positive results of RSL’s late 2010 drilling program have allowed refinements in the Mineral Resource Estimate that include:

• an increase in the lower cut-off grade from 80 ppm to 130 ppm eU308; the 2010 Resource was reported at a 100ppm cut-off (14.5Mt @ 201ppm) but the 130ppm cut-off means that it no longer makes sense to quote a Resource at this level;

• the application of a statistically-based upper grade cut-off of 1,500 ppm eU3O8;

• the reduction in density assumption from 2.3 to 1.9 g/cm[3] , so as to be consistent with similar deposits in the region, in the absence of systematically recorded data at Livingstonia to date;

• the definition of a minimum 3m mining width, consistent with open pit extraction; and,

• the addition of lower grade mineralisation to the south of the 2010 Resource; for clarity this zone is reported separately in Table 1, and shown in Fig 4.

It should be noted that:

• Resource Star supplied all geological and sampling data and provided technical and geological support to CSA during the resource modelling process. CSA has not visited the project site;

• The uranium values modelled are gamma spectrometric equivalent uranium estimates based on deconvolution of wireline gamma logging of the drill holes. Grades derived from gamma readings are indicated by “eU3O8”. Uranium equivalence calculations have been completed by the companies completing the field logging;

• No QA/QC data for the gamma logging programmes is available, but CSA’s discussions with those doing the logging established that gamma logging was completed to reasonable standards and chemical assay checks have demonstrated that uranium is present in quantities consistent with the gamma spectrometric analysis;

• No account has been taken for any disequilibrium (positive or negative) within the mineralised system and the results are presented as if the system is in equilibrium; and,

• Insufficient data were available to assess any affects from radon contamination of the wireline logging results.

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Resource Increases

While the total mineralised area has not increased significantly, the thick intersections along the eastern edge of the Resource area (Fig 3) drilled in November 2010 and announced in January 2011 have allowed the expansion of the Resource in this direction (Fig 4), and significantly increased tonnes in this area.

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Figure 3: Livingstonia block model showing the stacked lodes, and the thickening of these horizons towards the east as defined in 2010 drilling (eg LBPE103)

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Figure 4: Comparison of 2010 and 2011 Resource outlines showing the addition of Resource to the south, and further exploration potential.

The blue cross-hatched area around the defined Inferred Resource is an area highlighted by CSA and is one of a number of exploration targets.

Future Work

Exploration potential exists in a number of areas around the defined Resource, namely:

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• to the east of the northern end of the Resource outline, where recent drilling has defined excellent thick zones of mineralisation;

• along strike from the interpreted NW trending zone of this thickened, higher grade mineralisation defined in the 2010 drilling within the Resource outline;

• within the Resource outline where interpretation suggests that earlier drilling has not drilled always through the full thickness of the host sequence; and,

• in the new lower grade zone to the south where sparse drilling indicates potential for defining shoots of higher grade mineralisation within the system and within the areas defined as resource potential by CSA.

In addition, an integrated study reassessing all historical information in the light of what is now known about the distribution of mineralisation will focus on understanding the stratigraphic, structural and mineralisation controls of the system to better define new drill targets.

CSA has been commissioned to undertake a desk-top conceptual study to assess alternate development options to provide input to the data collection requirements and potential minimum size requirements for the different options.

Cue Resources Update

On 4 May 2011, Resource Star announced that it had conditionally agreed to acquire a strategic interest in the Canadian listed Cue Resources Ltd from Red Rock Resources plc (“Red Rock”), subject to shareholder approval. Discussions are continuing between Resource Star and Red Rock to finalise documentation and, when that is completed, a shareholder’s meeting will be called to vote on the proposal. The meeting is now expected to be held in the September quarter. An Independent Expert’s Report prepared by Lonergan Edwards & Associates Limited, with technical input provided by SRK Consulting (Australasia) Pty Ltd on the Yuty Project, which Cue has reported has a NI43-101 Resource of 10.1Mt @ 430 ppm eU3O8, will be provided to shareholders for their consideration.

Lake Barlee Update

Resource Star has submitted documentation to the WA Department of Mines and Petroleum to relinquish E29/721. This early stage, low grade calcrete project now has reduced priority relative to other more advanced and more prospective projects in the Company’s portfolio, and the expenditure required to maintain the tenement in good standing cannot be justified.

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For further information please contact: Andrew Bell, Chairman +44 77 66 474 849 Simon Heggen, Managing Director +61 3 9607 1322 Victoria Thomas, Six Degrees Investor Relations +61 431 151 676

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About Resource Star Ltd

Resource Star Ltd is a publicly-listed Australian company (ASX: RSL) that has interests in uranium and uraniumassociated exploration assets in the Northern Territory, Western Australia, Tasmania and Malawi.

The Company’s main projects are the 100%-owned Edith River and Hayes Ck South Uranium Projects in the Northern Territory, the Spinifex joint venture with Thunderlarra Exploration in Western Australia, and joint ventures with Globe Metals & Mining on the Machinga Niobium-Rare Earths Project and the Livingstonia Uranium Project in Malawi. Globe is managing the Machinga program, with input from Resource Star, and they have currently earned 20% equity through exploration expenditure. In a staged process Globe can earn up to 80% in the project by funding all activity up to and including a feasibility study.

In 2010 Resource Star reported a maiden JORC-compliant Inferred Resource for Livingstonia, defining 7.7 Mt at 270 ppm eU3O8 for a total of 4.6 Mlb of contained metal, now increased to 6.0Mlb.

About Globe Metals & Mining Limited

Globe is an African-focused resource company, specialising in rare metals such as niobium, tantalum and rare earths, as well as other commodities including fluorite, uranium and zircon. Its main focus is the multi-commodity Kanyika Niobium Project in Malawi, Africa, which will commence production of ferro-niobium in 2014, a key additive in sophisticated steels.

Globe also has a number of other projects at an earlier stage of development: it is earning up to an 80% interest in the Machinga Rare Earth Project in southern Malawi, and the Company can earn up to a 90% interest in the Mount Muambe REE - Fluorite Project in Mozambique. Initial drill programs on both projects were undertaken in 2010.

Globe has regional offices in Lilongwe, Malawi, and Tete, Mozambique and has its corporate head office in Perth, Australia. The Company has been listed on the ASX since December 2005 (Code: GBE).

In April 2011, the Company entered into a strategic partnership with East China Minerals Exploration and Development Bureau (ECE), a Chinese State Owned Enterprise with extensive mining operations in China and overseas. ECE is now the largest shareholder in Globe, and a key partner for Globe’s growth ambitions in Africa.

Competent Person Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr Richard Evans, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Evans is an employee of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Evans consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resource Estimation is based on information compiled by Mr Dmitry Pertel, who is a Member of The Australasian Institute of Geoscientists. Mr Pertel is an employee of the CSA Global Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Pertel consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This report contains ‘forward-looking information’ that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward-looking information might include, among other things, statements with respect to the Company’s business strategy, plans, objectives, performance, outlook, growth, shareholder value, projections, targets and expectations, Mineral Reserves and Resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, uranium prices, demand for uranium, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘would’, ‘could’, ‘should’, ‘scheduled’, ‘will’, ‘plan’, ‘forecast’ and similar expressions. Persons reading this report are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forwardlooking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company’s Annual Report. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results.