CORE ENERGY MINERALS LTD — M&A Activity 2008

May 15, 2008

ABN 27 009 118 861

GLOBAL APPROACH LIMITED

16 May 2008

ASX RELEASE

Re: ACQUISITION BY TEYS LIMITED

Global Approach Limited (GLO) is pleased to announce that TEYS Pty Limited (TPL) has acquired a portfolio of strata management contracts in Melbourne bolstering its number of lots under management in that city to 9,300. This takes the total lots under management of TPL to 16,400.

The latest acquisition by TPL, is the strata management portfolio of Sam Pennisi Real Estate Pty Limited based in Essendon, Melbourne. The 1,800 lot portfolio has been acquired by TPL for $400,000 representing an EBITDA multiple of 4. The portfolio contains 266 individual buildings.

The strategic considerations behind the acquisition included:

• The diversification of the existing TPL Melbourne portfolio of 7,500 high end apartments across 57 buildings;

• The procurement of staff from Sam Pennisi Real Estate Pty Limited with specialist skills in the management of small lot subdivisions to broaden the skill base of the TPL Melbourne team in large scale subdivision;

• The incorporation of the Sam Pennisi Real Estate Pty Limited strata management team into the existing office of TPL Melbourne.

The Pennisi acquisition has been funded by TPL to 50% by traditional debt funding from Macquarie Bank Limited.

Street Address: Level 15, 25 Bligh Street, Sydney NSW 2000 Ph: + 61 2 9233 2520 Fax: + 61 2 9233 2530

ABN 27 009 118 861

GLOBAL APPROACH LIMITED

This is the sixth strata management acquisition by TPL and the first where TPL has acquired a portfolio from an existing business rather than acquiring the whole of the business.

There are many small portfolios of strata management currently operated as part of real estate practices, surveying practices and accounting practices. The acquisition of these small portfolios and the integration of them into the existing TPL business is an important part of the TPL strata management consolidation strategy.

GLO shareholders are due to vote on the acquisition of TPL at a shareholders meeting to be held on 22 May 2008.

Yours faithfully

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Dean Gallegos Chairman

For further information please contact:

Dean Gallegos (Global Approach Limited) – 0416 220 007

Michael Teys (Teys Pty Limited) – 0419 644 288