IRON BEAR RESOURCES LTD — Capital/Financing Update 2013

Sep 23, 2013

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AU$700k Funding Secured

Global Strategic Metals NL (ASX: GSZ ) ( Global or the Company ) is pleased to announce that, in a further show of support, major shareholders Cape Lambert Resources Limited (ASX: CFE) ( Cape Lambert ) and Exchange Minerals Limited ( Exchange Minerals ) have provided AU$700,000 to the Company pursuant to convertible note deeds ( Convertible Note Deeds ).

Pursuant to the Convertible Note Deeds, the conversion of the convertible notes (together with interest which accrues daily at 12% per annum) is subject to receipt of shareholder approval at the Company’s 2013 Annual General Meeting.

Subject to receipt of shareholder approval, Cape Lambert and Exchange Minerals (each a Noteholder ) can elect to convert all or part of their respective notes (together with interest) into shares at price of conversion which is the greater of:

• (a) $0.03 each; and

• (b) 80% of the volume weighted average closing price of the shares as quoted on ASX over the last ten (10) trading days immediately preceding the delivering of a conversion notice by the Noteholder.

Any part of the convertible notes (and interest) not converted must be repaid by the Company on the date which is 12 months after the date of issue of the notes.

As announced on 17 September 2013, the Company has mobilised a contractor to extract two 500 tonne bulk samples ( Bulk Sample Exercise ) at the Company’s 80% owned Wolfsberg Lithium Project ( Project ) in Austria. Upon completion of this exercise the Company will have fulfilled all of the necessary conditions and obligations for the mining leases pertaining to the Project to be granted to the Company for two terms of 30 years.

ASX / Media Announcement 24 September 2013

Global Strategic Metals is an Australian based exploration company with a philosophy to build a portfolio of diversified mining opportunities and apply our extensive expertise to deliver shareholder wealth.

We will continue to look for new prospects, joint ventures and investments in the mining and exploration sectors in Australia and elsewhere.

Australian Securities Exchange

Code: GSZ

Ordinary shares 171,761,366 Options 19,500,000

Board of Directors

Tony Sage Non-Executive Chairman

Anthony Roberts Executive Director

Benjamin Hill Non-Executive Director

David Shaw Non-Executive Director

Declan Kelly Non-Executive Director

Pip Leverington Company Secretary

Key Projects

Wolfsberg Lithium Project - Austria

Enquiries

The funds received pursuant to the Convertible Note Deeds will be used by the Company to fund the Bulk Extraction Exercise and for general working capital purposes.

The Company is continuing to progress additional capital raising options with its mandated financial advisor Fox Davies Capital Limited and will advise the market in relation to any material developments.

Ends

Global Strategic Metals NL

Tony Sage Executive Chairman

Eloise von Puttkammer Investor Relations

Professional Public Relations David Tasker Phone: +61 8 9388 0944 Mobile: +61 433 112 936 Email: david.tasker@ppr.com.au

Fox-Davies Capital Daniel Fox-Davies & Jonathan Evans Phone: +44(0)20 3463 5000

www.globalstrategicmetalsnl.com

32 Harrogate Street, West Leederville WA 6007 PO Box 1385, West Leederville WA 6901

Ph: +61 8 6181 9795 / fax: +61 8 9380 9666 / email: info@globalstrategicmetalsnl.com

ASX / Media Announcement 24 September 2013

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About the Wolfsberg Lithium Project, Austria (GSZ 80%, Exchange Minerals Group 20%)

The Wolfsberg Lithium Project is located in Carinthia, 270 km south of Vienna, Austria. The Project is located 20 km east of Wolfsberg, an industrial town, with excellent infrastructure, which includes rail. The main industry in the area is forestry and a pulp and paper mill is in operation in Wolfsberg.

There are two types of Pegmatite ores within the Project, with veins up to 5.5m:

• Amphibolite Hosted Pegmatite ("AHP") with grades up to 3.15% Li2O; and

• Mica Hosted Pegmatite ("MHP") with grades up to 1.95% Li2O.

Key Project Features

• Close to road, rail and cities at Wolfsberg and Deutschlandsberg

• Significant land holding of granted exploration and mining licenses

• Inferred JORC resource of 18 million tonnes at 1.6% Lithium Oxide ("Li2O") including a measured resource of 3.7 million tonnes at 1.5% Li2O with substantial exploration upside with ore body remaining open at depth and along strike

• Mining was undertaken and Permitting was in place in the late 1980's for trial mining and the Project has been kept on care and maintenance and in survey since then.

• Strategic location for mining and supply to European markets

• Lithium price forecast to remain strong

• Global Lithium demand is increasing

• There is currently no Li2O produced in Europe

Development Strategy

• Complete mineral processing studies using 2011 technology to achieve target production specifications and to produce samples of Spodumene, Quartz, Feldspar and Mica for marketing purposes

• Continue to develop an off-take strategy with potential off-take partners

• Undertake limited drilling to convert inferred resources into the indicated and measured categories

• Complete a Definitive Feasibility Study based on mining approximately 350,000 tonnes per annum or 9,200 tonnes per annum of Lithium Carbonate. The mining rate of the mining operation will be dependent on the size of off-take agreements for saleable products

Competent Persons Statements

The information in this announcement that relates to Mineral Resources is based on information compiled by Mr Ian Miller of Geotask Pty Ltd. Mr Miller is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). He has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Miller consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The information in this report which relates to Exploration Targets or Exploration Results is based on information compiled by Mr Allen Maynard, who is a Member of the Australian Institute of Geosciences (“AIG”), a Corporate Member of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and independent consultant to the Company. Mr Maynard is the Director and principal geologist of Al Maynard & Associates Pty Ltd and has over 30 years of exploration and mining experience in a variety of mineral deposit styles. Mr Maynard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves”(JORC Code). Mr Maynard consents to inclusion in the report of the matters based on this information in the form and context in which it appears.

Global Strategic Metals NL ASX: GSZ

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