CORE ENERGY MINERALS LTD — Capital/Financing Update 2005

Jan 10, 2005

Бтвоале, ФМ 4000 GRO Bax 96A Britane Qid 4001

Ph 61-7-3317-2226

11th January 2005

ASX AND PRESS RELEASE

FINALISATION OF OWNERSHIP OF SECOND ON-LINE CASINO AND UPDATE ON POKER ROOM

The Board of Global Approach Limited (ASX code GLO) announced on the 15^th December 2004 that it was proceeding with the acquisition of the remaining 77% of UK Casino Club Pty Ltd (UK Casino) currently not held by the company. This acquisition has since been concluded and will be reflected in GLO's Balance Sheet as at 31^st December 2004 as a wholly-owned subsidiary.

The UK Casino will complement MusicHall Casino giving GLO a better balance of US and European customers through their web sites. The UK Casino operates out of two main web sites at www.ukcasinoclub.com and www.ukcasinoclub.co.uk.

The cash component of the purchase price of AUD\$924,000 was satisfied by a payment of \$500,000. The remaining \$424,000 is a loan from Firebrand Interactive repayable in thirteen (13) months.

GLO has recognised that Poker on the Internet has turned into world wide phenomena and is growing exponentially per month. GLO has therefore acquired a Poker Room to complement its Casino operations. The Poker Room which can be viewed at www.mhc.pkrrm.com has five (5) games available, Texas Holdem, Omaha, 7 Stud, 5 Stud, Sit & Go and Omaha High/Lo. Whilst the site can be visited by Australians, consistent with Australian Federal regulations the casinos and the Poker Room will not accept bets from Australians.

For further information please contact:

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