GLOBE METALS & MINING LIMITED — Capital/Financing Update 2021

Jun 6, 2021

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KANYIKA NIOBIUM PROJECT MINING LICENCE APPLICATION

FORMAL APPROVAL RECEIVED

Globe Metals & Mining Limited (ASX: GBE , Globe or the Company ) advises that it has received formal notification from the Principal Secretary of Mining that the Malawi Government’s Mineral Resources Committee has reviewed Globe’s mining licence application for the Kanyika Niobium Project (AML0026) and recommended the grant of a Mining Licence.

Approval by the Malawi Government’s Mineral Resources Committee (MRC) is a critical and formal step in the process of granting a Mining Licence under the new Mines and Minerals Act, 2018 (Mines Act) which became effective on 1 September 2019. Pursuant to the Mines Act, the Minister is obligated to follow the recommendation of the MRC and grant the licence within 45 days, with the Registrar then having 5 business days to notify the Company and issue the licence. The Company has fulfilled the mandatory conditions for the grant of the mining licence by obtaining all relevant environmental certificates in accordance with the Environmental Management Act (2016) and the Mines Act.

Globe now awaits receipt of the Mining Licence and subsequent execution of the Development Agreement with the Government of Malawi. The Company is of the understanding that the licence will have a mining lease term of 25 years from the date of issue consistent with the Mines Act.

Globe Managing Director, Mr Alistair Stephens, commented as follows in relation to the formal notification received from the Principal Secretary of Mining:

“Globe has been working diligently and cooperatively with all stakeholders for many years to achieve grant of a mining licence for the Kanyika Niobium Project. Formal approval from the Malawi Government’s Mineral Resources Committee to grant the Mining Licence is a significant step forward for the Company’s goal of becoming a niobium producer. I am particularly pleased for the Globe team who have stayed the course despite many obstacles in recent times, not least of which has been the COVID19 pandemic which has made face to face consultation difficult.”

Following the receipt of the mining licence and execution of the development agreement, the Company will commence the release of important information in a logical manner regarding the project. In no particular order, this will consist of the key terms of the development agreement with the Government, the nature of a community development agreement and social responsibility programmes, project metrics and operational design including reserves and mine life, financing and sales strategy, and the building of organisational capacity.

Now that a major milestone has been reached, the Company can look to actively pursue promotional and marketing strategies to develop a broader market appreciation of the project.

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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This announcement has been authorised for release by Alistair Stephens, Managing Director of Globe Metals & Mining Limited.

For further information please contact:

Alistair Stephens Managing Director +61 8 6118 7240

Michael Fry Company Secretary +61 8 6118 7240

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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