CORE ENERGY MINERALS LTD — Capital/Financing Update 2007

Nov 29, 2007

ABN 27 009 118 861

GLOBAL APPROACH LIMITED

30 November 2007

Company Announcement Office Australian Securities Exchange Limited Exchange Centre Level 4, 20 Bridge Street SYDNEY NSW 2000

Dear Sir / Ms

Re: Shareholder Update ‐ Acquisition of Teys Proprietary Ltd

Global Approach Limited (“GLO” or “the Company”) is pleased to give shareholders an update as to the progress of the acquisition of 100% of the issued capital of specialist property investment management company, Teys Proprietary Ltd (“TPL”).

Convertible Notes

The Company has received a further $2.0 million in Convertible Note funding from Sophisticated Investors (see attached Appendix 3B), this brings to a total of $5.0 million raised in Convertible Notes since commencing this funding program in July 2007.

The issue of the Convertible Notes and their conversion into shares is subject to shareholder approval and until such time remain a debt of the Company and carry an interest rate of 8.0%. When approved by shareholders the Convertible Notes will convert into shares at a conversion price of $0.04.

Additionally the Company has executed Variation Deeds with the holders of the Convertible Notes which has the effect of extending the repayment date from 31 December 2007 to 31 March 2008.

The Company’s current cash holdings now total approximately $6,100,000, additionally it has provided bridging finance of $1,480,000 to Teys Pty Ltd (“Teys”) in the form of a Convertible Note to assist in the acquisition of two strata management businesses as previously advised on the 3 Oct 2007.

Strata Lot Management Business ‐ Growth

A core attraction of the TPL business was the ability of TPL to significantly grow its existing Strata Lot management business through a combination of organic growth and acquisition. When GLO executed the initial Term Sheet on 13 July 2007 TPL had approximately 6,500 strata lots under management.

TPL now has 15,600 lots under management, the growth having being achieved through both acquisitions and organic growth.

Street Address: Level 5, 320 Adelaide Street, Brisbane QLD 4000 Ph: +61 7 3831 5650 Fax: +61 7 3831 5694

GLOBAL APPROACH LIMITED

ABN 27 009 118 861

Additionally TPL is currently assessing a number of acquisition targets that will significantly grow this business over the next 12 months.

Teys Bridging Finance

As described above, GLO has provided $1,480,000 bridging finance to TPL in the form of Convertible Notes to assist with the funding requirements of the two strata lot business’s TPL recently acquired. GLO may expand this funding package too assist TPL in the acquisition of additional strata lot management businesses as mentioned above.

Acquisition Due Diligence

Since announcing the acquisition of Teys on 13 July 2007 the Company has been progressing its due diligence of Teys. The most significant delay to date has been the receipt of audited accounts for FY 2006 and FY 2007 from Teys, these were received by the Company on 2 November.

The Company has engaged WHK Horwath Corporate Finance (“WHK”) to review the audited results and Teys forecast for the 30 June 2008. WHK will then prepare a report for shareholders to report if the transaction is Fair & Reasonable for Global shareholders, this report will form part of the Notice of Meeting and Explanatory Memorandum currently being finalised.

The Company expects receipt of the WHK report and to complete the majority of its commercial and legal due diligence on Teys in the next two to three weeks after which it will make a further update.

Yours sincerely

Global Approach Limited

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Dean Gallegos Chairman

For further Information please contact Dean Gallegos on 0416 220 007

Street Address: Level 5, 320 Adelaide Street, Brisbane QLD 4000 Ph: +61 7 3831 5650 Fax: +61 7 3831 5694

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

ACN

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).

• 1 +Class of +securities issued or to be Convertible Notes issued

• 2 Number of[+] securities issued or to $2,000,000 value be issued (if known) or maximum number which may be issued

3 Principal terms of the[+] securities Subject to shareholder approval, Notes are (eg, if options, exercise price and convertible into ordinary fully-paid GLO expiry date; if partly paid shares at 4¢ per share (i.e., 50,000,000 +securities, the amount outstanding shares). and due dates for payment; if +convertible securities, the Conversion is at either party’s discretion. conversion price and dates for conversion) If not converted into shares Notes are repayable by 31 March 2008. Coupon rate 8.0%per annum, paid quarterly in arrears.

• 4 Do the[+] securities rank equally in all Yes, all shares will rank equally respects from the date of allotment with an existing[+] class of quoted +securities? If 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 or consideration $2,000,000 in aggregate 6 Purpose of the issue Funds will be applied towards the (If issued as consideration for the acquisition of Teys Proprietary Ltd and acquisition of assets, clearly identify provision of bridging loans to Teys those assets) Proprietary Ltd to assist with acquisitions.

• 7 Dates of entering[+] securities into 13 November 2007 & 26 November 2007 uncertificated holdings or despatch of certificates

• See chapter 19 for defined terms.

Appendix 3B Page 2

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Number +Class 8 Number and +class of all 176,217,546 Ordinary shares +securities quoted on ASX ( including the securities in clause 2 if applicable) Number +Class 9 Number and +class of all $5,000,000 Con Notes +securities not quoted on ASX convertible into ( including the securities in clause 125,000,000 2 if applicable) Ordinary Shares on shareholder approval. 10 Dividend policy (in the case of a No change trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval NOT APPLICABLE required? 12 Is the issue renounceable or nonrenounceable? 13 Ratio in which the[+] securities will 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. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission 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 If the issue is contingent on +security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product 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

• See chapter 19 for defined terms.

Appendix 3B Page 4

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broker?

31 How do[+] security holders sell part of their entitlements through a broker and accept for the balance?

• 32 How do[+] security holders 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) 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 convertible 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

NOT APPLICABLE

• 35 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

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the 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)

38 Number of securities for which + NOT APPLICABLE quotation is sought 39 Class of +securities for which quotation is sought 40 Do the[+] securities rank equally in all respects from the date of allotment with an existing[+] class of quoted +securities? If 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 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of 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.

Appendix 3B Page 6

11/3/2002

All entities

Fees

• 43 Payment method (tick one)

NOT APPLICABLE

Cheque attached

• 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

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 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.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• See chapter 19 for defined terms.

Appendix 3B Page 7

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• 4 We give ASX the information and documents required by 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.

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Sign here: ............................................................ Director Date: 30 November 2007 Print name: Dean Gallegos

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• See chapter 19 for defined terms.

Appendix 3B Page 8

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