CORE ENERGY MINERALS LTD — Capital/Financing Update 2004

Jun 15, 2004

ASX AND PRESS RELEASE

16th June 2004

ACQUISITION OF 23% INTEREST IN SECOND ONLINE CASINO

The Board of Global Approach Limited (ASX code GLO) are pleased to announce that they have concluded the purchase of 23% interest in UK Casino Club Pty Ltd ("The UK Casino Club".) The UK Club operates out of two main web sites at www.ukcasinoclub.com and Casino www.ukcasinoclub.co.uk with the casino offering players the choice of Pounds, Euro or US dollars through its online payment systems.

The purchase price of AUD\$276,000 is to be satisfied by issuing 2.76 million GLO shares to the vendors (deemed issue price 10c) which values the entire casino at AUD\$1.2 million. The 2.76 million GLO shares represent approximately 5% of the total shares in GLO.

Mr. David Barwick, Chairman of GLO stated that the purchase of the 23% interest in The UK Casino Club was a strategic investment which will give GLO access to the highly lucrative European market as well as giving the company an equity interest in a second on line casino.

Mr Barwick stated that MusicHall Casino (www.musichallcasino.com) and UK Casino Club gross turnover for the month of May 2004 exceeded A\$18 million and that based on the growth of both entities in the past five (5) months this was expected to continue over the coming months.

David Barwick, Executive Chairman Email: davidb@globalapproach.com.au Web: www.globalapproach.com.au