GLOBE METALS & MINING LIMITED — Capital/Financing Update 2021

Aug 18, 2021

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ASX Announcement
19 August 2021
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KANYIKA NIOBIUM PROJECT

MINING LICENCE FORMALLY GRANTED

Globe Metals & Mining Limited (ASX: GBE , Globe or the Company ) is extremely pleased to advise that it has been granted a Large-Scale Mining Licence for the Kanyika Niobium Project in Malawi.

A copy of the Large-Scale Mining Licence No. LML0216/21, signed by the Honourable Rashid Abdul Gaffar, Minister of Mines, dated 13 August 2021 pursuant to the Mines and Minerals Act is attached.

Upon receipt of the Mining Licence on 16[th] August 2021, Globe Managing Director, Mr Alistair Stephens, commented as follows:

“This is a momentous achievement for the Republic of Malawi and its people, the Kanyika community, the Company and the Kanyika Project. The grant ushers in a new era for the Malawi mining industry with the first ever award of a large-scale mining licence under the new Mines Act.

It also ushers in a new era for niobium, with Kanyika set to become the first new niobium mine in more than 50 years, subject to financing, off-take and construction.

On behalf of the Board and management of Globe, we would like to thank the Malawi Government, present and past, who we have worked closely with over many years to achieve this outcome. Each should be rightfully proud of the roles that they have played to achieve this result.

I would like to thank the members of Globe’s Board, and in particular Chair Ms Alice Wong for her patience, support, and guidance over many years. In addition, I would like to thank Globes’ great team of committed and talented executives who have worked determinedly. In particular, I would like to praise Mr Neville Huxham and our Malawi team including Mr Dean Lungu, Ms Lisungu Banda, Mr Grant Hudson and Mr Chris Ngwena all of whom have, and continue to play, an extremely important role. Neville Huxham, who turned 81 earlier this year, has made it his life’s mission to achieve award of the mining licence for the Company and its stakeholders, but most importantly for Malawi and its people who have a special place in his heart. We are indebted to Neville for his tireless work, perseverance, and expertise.

Work does not stop with the grant of the mining licence. In fact, the real work starts now. We expect that the Malawi Government will soon execute our Development Agreement, and then our focus will shift to, off-take and financing.

The Kanyika Niobium Project will be an important project, utilising state-of-the art technology for a state-of-the art metal. Further information on this technology will follow in due course. The Project will employ and train thousands of local staff over its life, and through the many community programs envisaged, it can be expected to improve the lives of the Kanyika community and help contribute to a better Malawi.

For the Kanyika community, this is a vitally important development. At last, there can be real conversations about the timelines to development, and the initiatives that the Company can implement in its social responsibility programs”

Globe Metals & Mining Ltd | Unit 1, 26 Elliott Street, Midvale, WA, 6056 | PO Box 1811 West Perth WA 6872 | P: +61 6118 7240 | F: +61 8 6323 0418 web: www.globemm.com | Email: info@globemm.com | ABN 33 114 400 609 | ASX:GBE

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Details of the Project Feasibility and Economics will follow by separate announcement.

A copy of Large-Scale Mining Licence No. LML0216/21 conferring on Globe the exclusive right to prospect and mine for a term of a 25 years is as follows:

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This announcement has been authorised for release by the Board of Globe Metals & Mining Limited.

For further information please contact:

Alistair Stephens Michael Fry Managing Director Company Secretary +61 8 6118 7240 +61 8 6118 7240

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Disclaimer

• This announcement has been prepared by Globe Metals & Mining Limited (“Company”). The material contained in this announcement is for information purposes only. This announcement is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and nether this release nor anything contained in it shall form the basis of any contract or commitment.

• This announcement may contain forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Globe Metals & Mining Limited’s business plans, intentions, opportunities, expectations, capabilities and other statements that are not historical facts. Forward-looking statements include those containing such words as could-plan-target-estimate-forecast-anticipate-indicate-expect-intendmay-potential-should or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, and which could cause actual results to differ from those expressed in this report. Because actual results might differ materially to the information in this announcement, the Company does not make, and this announcement should not be relied upon as, any representation or warranty as to the accuracy, or reasonableness, of the underlying assumptions and uncertainties. Investors are cautioned to view all forward-looking statements with caution and to not place undue reliance on such statements.

• The announcement has been prepared by the Company based on information available to it, including information from third parties, and has not independently verified. No representation or warranty, express or implied, is made to the fairness, accuracy or completeness of the information or opinions contained in this announcement.

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