Mount Muambe REE-Fluorite Project

The Mount Muambe REE-Fluorite Project is one of Globe's most exciting opportunities. The Mount Muambe carbonatite crater shows a unique enrichment of valuable heavy rare earth oxides (HREOs) and with the 2011 RC drilling program now complete, the Company looks forward to an onging positive news flow in the early months of 2012. Currently only 5,377m of drilling has been reported from a completed total of 9,427m.

Mount Muambe is a 3km diameter carbonatite crater in the Tete Province of Mozambique. The exploration permit covers the entire crater.  While the original drilling program was essentially focused on a fluorite target, it has produced an exciting and significant new discovery of REE. A large number of other highly prospective REE targets remain to be tested in the 2011 drilling program and beyond. 

Globe can earn up to a 90% interest in the Project, and currently has earned 51%, based upon its 2nd year obligations under the joint venture agreement with Bala Usokoti Lda. Globe expects that its current extensive drilling program will enable a resource to be delivered and announced to the market during Q1 2012.