Productive September Quarter sees Globe on track for production October 31, 2008

African-focused uranium and specialty metals resource company Globe Metals & Mining (ASX: GBE) has released today its September Quarterly Activities Report.

Globe’s key project is the multi-commodity (niobium, uranium, tantalum and zircon) Kanyika Project in central Malawi, which contains a 56Mt inferred JORC resource. Production is scheduled to commence in 2011.

Highlights for the Quarter include:

• A Pre-Feasibility Study commenced on 3 September, following an extremely positive Scoping Study which concluded that Kanyika had the potential to become a very profitable operation with at least a 20 year mine life
• A JORC Resource Upgrade on the high-grade, near surface component of the Kanyika resource. Infill and extensional drilling highlights include;
  - KARC085 21m @ 10,339ppm Nb2O5, 530ppm Ta2O5, 366ppm U3O8 (from 64m)
  incl. 3m @ 44,206ppm Nb2O5, 2,501ppm Ta2O5, 1,616ppm U3O8 (from 64m)
  - KADD009 17m @ 14,027ppm Nb2O5, 853ppm Ta2O5, 586ppm U3O8 (from 33m)
  incl. 5m @ 21,981ppm Nb2O5, 997ppm Ta2O5, 775ppm U3O8 (from 33m)
  & incl. 4m @ 21,708ppm Nb2O5, 1,757ppm Ta2O5, 895ppm U3O8 (from 46m)
• Metallurgy work was undertaken to validate the process flow sheet proposed under the Scoping Study
• Company has $6m cash at bank
• London-based specialist trading company, A & M Minerals appointed as marketing advisers for Kanyika Project to assist with off-take agreements
• Finalist, “Frontier Explorer of the Year” Award

Please refer to the full report for further details on the Kanyika Project and the company’s other main project, the Livingstonia Uranium Project (also in Malawi).

For further information, please contact:

Mark Sumich
Managing Director
Globe Metals & Mining
T: +61 8 9486 1779

or

James Moses
Partner
Fortbridge Consulting
M: +61 420 991 574
E: james.moses@fortbridge.com