CORE ENERGY MINERALS LTD — Capital/Financing Update 2004

Mar 7, 2004

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002.

Name of entity

GLOBAL APPROACH LIMITED

ABN

27 009 118 861

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

2,122,529

securities [ $\mathbf 1$ *Class of issued or to be issued

Ordinary Fully Paid Shares

• Number of 'securities
  issued or to be issued
  (if known) or maximum $\mathcal{D}$ which may be number issued
• Principal terms of the ર *securities (eg, if options, exercise price and expiry date; if partly paid 'securities, the amount outstanding and due dates - for payment; if *convertible securities, the price conversion and dates for conversion)

Unquoted options exercised @ 10 cents each

⁺ See chapter 19 for defined terms.

4	Do the 'securities rank Yes, GLO ordinary shares equally in all respects the date оf from with allotment an existing *class of quoted
	*securities? Ιf the. additional securities do not rank equally, please state: the date from which they do
	the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
	the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5.	Issue price $\sigma r$ consideration	10 cents each
6.	Purpose of the issue (Tf) issued as. consideration for the acquisition of assets, clearly identify those assets)	new venture the online "MusicHall Casino"	To meet general working capital requirements for the Company's as an operator of internet casino
7.	$\circ$ f Dates securities into uncertificated holdings despatch of оr certificates	entering 4 March 2004
8	Number and tclass оf	Number	*Class
	*securities quoted all ( including the ASX on	43,689,846	Ordinary shares
	securities in clause if applicable)	16,510,571	41 cent Options expiring 30/6/04

Number and 'class			of
all.	*securities		not
quoted		on	ASX
$\bar{a}$ including			the
securities in clause 2
if applicable)

Number	+ Class
750,000	16 cent options
	expiring 30/11/04
17,262,176	10 cent options
	expiring $31/1/06$
1,206,273	Ordinary fully paid
	shares subject to ASX
	escrow

10 Dividend policy (in the No change
case of a trust, distribution policy) on
the increased capital $(interests)$

Part 2 - Bonus issue or pro rata issue

11	security holder Ιs approval required?
12	the issue Ιs renounceable or non- renounceable?
13	Ratio in which the will *securities be offered
14	Class of securities to which the offer relates
15	*Record date to. determine entitlements
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?
17	Policy for deciding entitlements in relation to fractions
18	Names of countries in which the entity has *security holders who will not be sent new issue documents
	Note: Security holders must be told how their entitlements are to be dealt with.
	Cross reference: rule 7.7.

⁺ See chapter 19 for defined terms.

Appendix 3B
New issue announcement

19	Closing date for receipt acceptances оf or renunciations
20	Names оf any underwriters
21.	Amount оf any underwriting fee or commission
22.	Names of any brokers to the issue
23.	commission Fee or payable to the broker to the issue
24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of 'security holders
25	Τf the issue is contingent on 'security holders' approval, the date of the meeting
26	entitlement Date and acceptance form and prospectus Product or Disclosure Statement will be sent to persons entitled
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28	Date rights trading will begin (if applicable)
29.	Date rights trading will end (if applicable)
30	How do 'security holders sell their entitlements in full through a broker?
31	How do 'security holders their sell part of entitlements through а broker and accept for the balance?

• See chapter 19 for defined terms.

• 32 How do 'security holders $\Box$ dispose of their entitlements (except by sale through a broker)?

• 33 *Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities

$(tick one)$

NOT APPLICABLE

$(a)$ À

Securities described in Part 1

(b
)

All other securities

Example: restricted securities at the end of the escrowed period, partly paid
securities that become fully paid, employee incentive share securities when
restriction ends, securities issued on expiry or conversion of conve securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities (If the additional securities do not form a new class, go to 43)

Tick to indicate you are providing the information or documents

					$35$ $\Box$ If the 'securities are 'equity securities, the names of the
					20 largest holders of the additional *securities, and the
					number and percentage of additional "securities held by
		those holders.

If the 'securities are 'equity securities, a distribution
schedule of the additional 'securities setting out the 36 number of holders in the categories $1 - 1,000$ $1,001 - 5,000$
$5,001 - 10,000$
$10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional 'securities

(now go to $43$ )

Entities that have ticked box 34(b)

Number of securities for 3.8 which *quotation sought

⁺ See chapter 19 for defined terms.

39	Class of "securities for which quotation is sought
40	Do the "securities rank equally in all respects from the date оf allotment. with an existing 'class of quoted *securities? Ιf additional the securities do. not rank
	equally, please state: the date from which they do the which extent to. they participate for
	the next dividend, (in the case of a trust, distribution) or interest payment the extent to which
	they do rank not equally, other than in relation to the next dividend, distribution or interest payment
41	for request for Reason quotation now
	Example: In the case of restricted securities, ಾ£ end restriction period
	(if issued upon conversion оf another security, clearly identify that other security)
		Number	*Class
42	Number and class of all securities quoted on ASX including) the securities in clause 38)

$(now go to 43)$

⁺ See chapter 19 for defined terms.

All entities

Fees

• 43 Payment method (tick one)
• $\checkmark$ Please invoice

Electronic payment made

Note: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.

Periodic payment as agreed with the home branch has been arranged

Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.

Quotation agreement

• 'Quotation of our additional 'securities is in ASX's $\mathbf{1}$ absolute discretion. ASX may quote the 'securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the 'securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those 'securities should not be granted 'quotation.
• An offer of the 'securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for
the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by
  us in relation to any 'securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of
  the Corporations Act at the time that we request that the 'securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the 'securities to be quoted, it has been
  provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the 'securities to be quoted under section 1019B of the Corporations Act at the time that we request that the 'securities be quoted.

⁺ See chapter 19 for defined terms.

• We will indemnify ASX to the fullest extent permitted by $\overline{3}$ law in respect of any claim, action or expense arising
  from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by $\overline{4}$ this form. If any information or document not available now, will give it to ASX before 'quotation of the 'securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign

. . . . . . . . . . . . . . . . . . . ............Date: 8 March 2004.... (Director/Company Secretary)

Print name: ....Bill Lyne. . . . . . . . . . . . . . . . . . . $\ddot{\phantom{a}}$

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here:

⁺ See chapter 19 for defined terms.