GLOBE METALS & MINING LIMITED — Capital/Financing Update 2023

Jun 13, 2023

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----- Start of picture text ----- Globe Metals & Mining Limited ASX: GBEABN 33 114 400 609 +61 8 6118 724045 Ventnor Avenue info@globemm.comWest Perth WA 6005 globemm.com----- End of picture text -----

ASX Announcement

14 June 2023

Kanyika Niobium Project Update

Highlights

• Continued strong support from Malawi Government with letter confirming agreement on timing for commencement of substantial mine development and mineral production at the Kanyika Niobium Project.

• Malawi Government visit Kanyika mine site with the Honourable Monica Chang’anamuno (Minister of Mining) and the Honourable Ibrahim Matola (Minister of Energy) meeting Globe employees and community representatives.

Globe Metals & Mining Limited (ASX: GBE) (“Globe” or “Company”) is pleased to advise that it has received a letter from the Department of Mines of the Malawi Government endorsing the ongoing efforts of Globe to acquire and mobilise resources for the Company’s Kanyika Niobium Project and assuring the continued security of tenure for mining license LML0216/21.

Commenting on Globe’s efforts to progress the Project, the Malawian Commissioner of Mines and Minerals stated:

“I would like, therefore, to assure your Company, in view of Section 174(6) of the Mines and Minerals Act (No. 8 of 2019), of the continued security of tenure for the aforementioned Mining Licence since there is a reasonable expectation that following the signing of the Mining Development Agreement (MDA) between Government and your Company on 29[th] March, 2023, over the Kanyika Niobium Project:

• (i) Mine development shall commence within eighteen (18) months from date of the signing of the MDA; and

• (ii) Substantial commercial mineral production at your Project site shall commence within sixty (60) months from the date of the signing of the MDA.”

As announced to the market in Globe’s ASX announcement of 29 March 2023[1] , the MDA is subject to and conditional upon, among other things, the Company obtaining an extension to the time limits prescribed under the Act for the commencement of substantial mine development and mineral production at the Project, to ensure those time limits are consistent with the timeline contemplated in the MDA.

1 ASX Announcement 29 March 2023, Malawi Government approves MDA for Kanyika Niobium Project.

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Commenting on the letter from the Malawi Government, Globe Chief Executive Officer, Grant Hudson, said ‘we welcome the update from the Commissioner, acknowledging the security of tenure for the mining licence, and recognising our commitment to the Project and progress to date. This is a key milestone in satisfying one of the conditions of the MDA within our previously stated timelines.’

Government Ministers Visit Kanyika Mine Site

Globe received further endorsement for its Kanyika Niobium Project with a site visit from the Honourable Monica Chang’anamuno (Minister of Mining) and the Honourable Ibrahim Matola (Minister of Energy) on 8 June 2023 to inspect the progress of the Project.

The Project is located between the areas of Senior Chief Inkosi Mabulabo of Mzimba District and Traditional Authority (TA) Simblemba of Kansungu District and both Government Ministers were pleased with the Company’s operations to date and advancements made.

The Honourable Monica Chang’anamuno (Minister of Mining) commented on the cordial working relationship with the Ministry of Energy in respect of the Project, with the Honourable Ibrahim Matola (Minister of Energy) pledging to expedite the connection of electricity at the Kanyika mine site.

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Photo 1. Hon. Monica Chang’anamuno (Minister of Mining) and Hon. Ibrahim Matola (Minister of Energy) at the Kanyika mine site

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Photo 2. Hon. Monica Chang’anamuno (Minister of Mining) and Hon. Ibrahim Matola (Minister of Energy) with District chiefs and community members at the Kanyika mine site

Authorisation for Release

This ASX Announcement has been authorised for release by the Company’s Chief Executive Officer, Grant Hudson.

For further information, please contact:

Grant Hudson Fiona Bryce Chief Executive Officer Media and Investor Relations +61 8 6118 7240 +61 400 029 258 gh@globemm.com fiona@republicpr.com.au

About the Kanyika Niobium Project

The Kanyika Niobium Project is located in central Malawi, approximately 55km northeast of the regional centre of Kasangu and is secured by Large-Scale Mining Licence No. LML0216/21 which grants the Company security of tenure and the right to mine niobium, tantalum, and deleterious uranium.

mineralisa�on. Structured and progressive engineering studies have resulted in the current (JORC 2012) Mineral Resource Es�mate (refer below) and given rise to significant improvements and simplifica�ons in the process flowsheet, from that first imagined.

In addi�on, Globe has undertaken substan�al metallurgical op�misa�on work and commissioned a pilot plant to demonstrate and further op�mise metallurgical processes. Metallurgical op�misa�ons studies have improved recoveries from 62% in 2012 to 75% today, through simple novel patented metallurgical processes.

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The Kanyika opera�ons will produce a pyrochlore mineral concentrate that contains both niobium and tantalum in commercially valuable volumes to be shipped to a refinery for advanced processing into high purity materials.

A Mineral Resource Es�mate for the Kanyika Niobium Project under the 2012 JORC guidelines was reported to ASX on 11 July 2018 as follows:

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Mineral Resource Es�mates

The informa�on in this report that relates to Mineral Resources is extracted from the report �tled “Kanyika Niobium Project – Updated JORC Resource Es�mate” released to the Australian Securi�es Exchange (ASX) on 11 July 2018 and available to view at www.globemm.com and for which Competent Persons’ consents were obtained. Each Competent Person’s consent remains in place for subsequent releases by the Company of the same informa�on in the same form and context, un�l the consent is withdrawn or replaced by a subsequent report and accompanying consent.

original ASX announcement released on 11 July 2018 and, in the case of es�mates of Mineral Resources, that all material assump�ons and technical parameters underpinning the es�mates in the original ASX announcement con�nue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original ASX announcement.

Full details are contained in the ASX announcement released on 11 July 2018 �tled “Kanyika Niobium Project – Updated JORC Resource Es�mate” available to view at www.globemm.com.

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