GLOBE METALS & MINING LIMITED — Capital/Financing Update 2014

Jan 14, 2014

ASX RELEASE

ASX RELEASE 30 June 2013

Date 15 January 2014

Investment Summary

• ASX listed African-focused resources company (ASX:GBE)

• 100% interest held on projects in Malawi including niobium, graphite and rare earths

Completion of Kanyika Bulk Sampling Campaign

Globe Metals & Mining (“ Globe ” or “ the Company ”; ASX:GBE) announces that it has completed the bulk sampling campaign at the Kanyika project, where a 40 tonne sample has been collected and sent to China for a metallurgical pilot plant programme.

• Malawi Kanyika Niobium project in feasibility optimisation

Highlights

Directors and Management

Managing Director Mr Alistair Stephens Executive Director & Deputy CEO Ms Shasha Lu Non-Executive Director Ms Alice Wong Mr Jingbin Tian Independent Non-executive Director Mr William Hayden Mr Bo Tan CFO & Company Secretary Ms Kerry Angel

Capital Structure

FPOS 469,729,062 OPTIONS 11,550,000 (various) GBEAQ 3M Rights expire June 2014

Contact

Alistair Stephens Managing Director info@globemetalsandmining.com.au T: +61 08 9327 0700

• Kanyika bulk sampling campaign is completed and a 40 tonne sample has now arrived in China awaiting customs clearance

• A demonstration scale concentration plant is to be undertaken at the Guangzhou Research Institute for Non-Ferrous Metals (GZRINM)

• A demonstration scale smelting plant is planned to be undertaken by Metalink International using the flotation concentrate produced by GZRINM

Globe has completed its sample collection campaign at the Kanyika Project site where a 40 tonne sample was collected, crushed and packed for freight. The sample has now arrived in China and is expected to arrive at the Guangzhou Research Institute for Non-Ferrous Metals (GZRINM) in February 2014 for a metallurgical pilot plant programme.

The metallurgical pilot plant at GZRINM is being undertaken to de-risk and optimise flotation techniques for the concentrator flowsheet for the Kanyika project. The focus of the pilot plant is to validate bench-scale testing results obtained during the optimisation phase of the Kanyika Definitive Feasibility Study (DFS), and also to validate engineering data for plant design.

Globe Metals and Mining Ltd | Level 1, Suite 2, 16 Ord Street, West Perth, WA, 6005 | PO Box 1811 West Perth WA 6872 | P: +61 8 9327 0700 F: +61 8 9327 0798 | web: globemetalsandmmining.com.au | Email: info@globemetalsandmining.com.au | ABN 33 114 400 609 | ASX:GBE

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The optimisation test-work undertaken at GZRINM in 2013 yielded improved metallurgical results for the Kanyika project. The work demonstrated that a cheaper and more robust reagent suite could be used for processing Kanyika mineralisation, resulting in a 5% increase in recovery to 75%. Globe has chosen to advance this bench-scale optimisation test-work with a demonstration pilot plant to validate data and prove process robustness and economics before proceeding to the next stage. Globe sees this as a sensible approach as oxide flotation is generally more complex than the widelypracticed sulphide flotation.

The concentrate produced in the GZRINM pilot plant will be used for additional pyrometallurgical test-work by Metallink International in China. Large scale metallurgical tests are required to allow a provision of more accurate metallurgical results. The smelting route currently under investigation is an aluminothermic process, and heat losses in small-scale smelting tests can have a marked effect on results. The sample size selected should produce more reliable results.

The program will be interrupted with the commencement of the Chinese New Year on 31 January 2014 and the Company expects little work to be undertaken for two weeks after this date during the Chinese holidays and celebrations. Shareholders will be informed of results once reports are completed and received throughout the programme.

Globe’s Managing Director, Alistair Stephens said “The campaign so far has had several unfortunate delays relating to sampling approvals and logistics, which are amplified when undertaking nonroutine activities such as this bulk sampling where approvals from a variety of stakeholders are required. Having navigated these hurdles, we can now focus on the heart of the exercise which is to undertake metallurgical piloting activities to evaluate the robustness of the process and also confirm process economics. “

“The results achieved last year by GZRINM are encouraging and we are looking forward to being able to confirm improved process economics and firm-up the engineering, whilst on a corporate level we continue Development Agreement negotiations with the Government of Malawi.”

ENDS

Contact:

Alistair Stephens

Managing Director & CEO Globe Metals & Mining Ltd Tel: +61 (0) 8 9327 0700

Shasha Lu

Deputy CEO and Executive Director Globe Metals & Mining Ltd Tel: +61 (0) 8 9327 0700

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About Globe Metals & Mining

Globe is currently an African resources company, with a strategy to the company’s investment opportunities in the minerals industry.

Globe’s Kanyika Niobium Project in Malawi, which will produce niobium and tantalum products; key additives in steels and electronics. The Mineral Resource statement substantiates that Kanyika could support a 20 year mine life.

Globe’s corporate head office in Perth, Australia is supported by regional operational offices in Lilongwe, Malawi.

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