CORE ENERGY MINERALS LTD — Capital/Financing Update 2007

Oct 2, 2007

GLOBAL APPROACH LIMITED

ABN 27 009 118 861

3 October 2007

Company Announcement Office Australian Securities Exchange 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”).

As earlier announced GLO will acquire TPL for a consideration of $13.0 million in cash and shares. Additionally GLO will also assume existing TPL debt of approximately $1.75 million.

TPL is headquartered in Sydney, New South Wales and was established in June 2002 to focus on property investment management in the growing markets of strata titled developments and retirement villages.

The present business of TPL in property investment management comprises:

• Strata management currently has 6,500 lots under management in offices located in Brisbane, Gold Coast and Sunshine Coast, with plans for significant growth in this industry sector;

• A Responsible Entity with property funds operations with $160 million of funds under management and which includes strata titled developments and retirement villages; and

• Strata and managed investment law and practice operated by lawyers in Queensland and New South Wales.

On the 24 August GLO executed a conditional Share Sale Agreement with the vendors of TPL, one of the conditions was the production by TPL of audited accounts for the periods ending 30 June 2006 and 30 June 2007 no later than 30 September 2007. Due to delays with the audit process this deadline has been mutually extended to the 30 October 2007 in which to allow GLO Directors to review the final figures.

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

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.

Commensurate with its acquisition strategy TPL has completed due diligence and settled the acquisition of an additional two strata lot management companies with total lots under management of 8,265. Significantly, the larger of the two acquisitions (7,200 strata lots) settled on 2 October 2007 is based in Melbourne where TPL does not currently have a presence, the acquisition of this business will allow TPL to seek further “bolt ‐ on” acquisitions in that market.

The total value of these acquisitions by TPL was $4,629,376, of which $3,235,000 was debt funded through a facility negotiated by TPL with Macquarie Bank Limited.

Convertible Note Funding

On the 13 August 2007 the Company announced that it had received the proceeds of $3.0 million in Convertible Note funding. Subsequently, GLO has provided $1,480,000 to TPL in the form of Convertible Notes to assist with the funding requirements of the two strata lot business’s TPL recently acquired.

The Notice of Meeting and Explanatory Memorandum to approve the acquisition of TPL is currently being drafted and will be dispatched to Shareholders when completed. It is the current intention of GLO to hold its Annual General Meeting at the same meeting of shareholders.

The transaction remains subject to final Due Diligence.

Yours sincerely

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David Barwick Chairman

For further Information please contact:

David Barwick (Global Approach Limited) ‐ 0419 736 660

Dean Gallegos (Global Approach Limited) – 0416 220 007

Street Address: Level 5, 320 Adelaide Street, Brisbane QLD 4000

Ph: +61 7 3831 5650 Fax: +61 7 3831 5694