CORE ENERGY MINERALS LTD — M&A Activity 2006

Jan 18, 2006

19 January 2006

COMPANY UPDATE PRIOR TO OPTIONS EXPIRY 31 JANUARY

The directors of Global Approach Limited (ASX code GLO) wish to advise that they are in negotiations to acquire a public unlisted company with International internet gaming assets with a strong focus on internet poker and several owned on-line casino operations.

Negotiations have been ongoing for the past two months with the directors and shareholders of the unlisted entity, however no agreement has yet been reached. Today GLO received a letter from the entity advising the directors that they have arranged for an indicative valuation to be obtained from one of the top six accounting firms to enable discussions to progress.

The board of GLO feel that with the ten (10) cent options falling due on the 31^st January 2006 it is in the best interest of both shareholders and option holders that they be made aware of these negotiations.

If a positive decision is made by GLO to proceed the Company will make a detailed release, however at this time the Company is not able to clarify the likelihood of reaching a positive decision until negotiations are further advanced. An up date on progress of the negotiations would be expected in early March 2006.

The transaction, if a positive decision is reached, would be likely to be an all share transaction and would require shareholder approval.

For further enquiries, please contact:

David K Barwick, Executive Chairman Ph: (07) 3831 5650 Fx: (07) 3831 5694 Email: davidb@globalapproach.com.au