CORE ENERGY MINERALS LTD — Capital/Financing Update 2006

May 2, 2006

Level 13, 340 Adelside St Brisbane QkI 4500 GPO 357.006 Enstand Old 4001 62-7-8331-5650

ASX & MEDIA ANNOUNCEMENT

Global Aggread

TO AMERICAN

Wednesday 3rd May 2006

Update On Progress Of Due Diligence Process By Global To Create One Of Australia's Premier On-line Gaming Companies

On-line Gaming Company, Global Approach Limited (ASX Code: GLO), announced on 29^th March 2006 plans for a significant acquisition to increase it's portfolio of on-line casinos and poker rooms having signed a Heads of Agreement to acquire Tusk Investment Corporation Limited (the Tusk Group) and associated entities, the owner and operator of a portfolio of on-line casinos and poker rooms.

The initial time frame indicated that the Due Diligence process would be completed by the 28^th April 2006. However, as this process involved a number of overseas entities the final Due Diligence is now expected to be completed by 11^th May 2006 (with final overseas reports in our possession by 19^th May 2006).

The delay in completing the Due Diligence process will not delay the settlement date with the time frame now amended as follows:

TIME FRAME

The proposed timetable includes:

• Completion of GLO & Vendors due diligence by both parties (11^th May 2006).
• Despatch of notice of meeting documentation to GLO shareholders (15^th May 2006).
• GLO shareholder meeting to approve transaction (13^th June 2006)
• Settlement of transaction (30^th June 2006). $\bullet$

The effective purchase date will still remain 1^st July 2006 allowing for the full 2007 financial year to be accounted for in GLO.

For further enquiries, please contact: David Barwick, Executive Chairman Ph: (07) 3831 5650 Fx: (07) 3831 5694 Email: davidb@globalapproach.com.au Web: www.globalapproach.com.au