Announcement PDF Globe Metals & Mining Limited ABN 33 114 400 609 45 Ventnor Avenue West Perth WA 6005 ASX: GBE +61 8 6118 7240 info@globemm.com globemm.com ASX Announcement 27 June 2023 Kanyika Niobium Project Next Steps and Vendor Selection Highlights • Sample extracted from site and delivered to Johannesburg for processing and test work. • Six highly experienced vendors selected to advance the Kanyika Niobium Project. Globe Metals & Mining Limited (ASX: GBE) (“Globe” or “Company”) is pleased to advise that it has extracted a sample from site for processing and test work and finalised a team of 6 highly experienced vendors to proceed with the next steps in advancing the Kanyika Niobium Project. Sample extracted from site and delivered to Johannesburg for processing and test work. A 12-tonne bulk sample has been extracted from a surface outcropping located at the point on the Phase 1 pit shell as per the DFS mining plan where mining will commence. Members of the Department of Lands in Malawi evaluated the damage to crops caused by the passage of the excavator in collec�ng the sample and compensa�on has been paid to the affected farmer. The sample was transported to Lilongwe where it was crushed to -40mm before being exported to South Africa. Here it is being crushed to -1mm by Energy and Densifica�ons Systems (Pty) Ltd (EDS) using a mul�-sha� mill. Therea�er, the sample will be split, with one half being sent to Solo Resources (Pty) Ltd (Solo) for gravimetric tes�ng to determine how much gangue can be discarded from the ore and the second half going to Geolabs Global (Pty) Ltd (Geolabs Global) who will mill, deslime and remove magne�cs prior to flota�on to produce a concentrate. The air-dried concentrate will then be delivered to TCM Research Limited (TCM) for chlorina�on tes�ng. Six Selected Vendors Solo has been selected to design and construct the mineral processing plant. Based in Johannesburg, Solo has a wealth of experience in the design, build and commissioning of mineral plants in South Africa, and have supplied such installa�ons all over the Con�nent. Solo will also undertake gravimetric tes�ng on the ore to discard gangue prior to milling. TCM has been selected to design the refinery process for the Kanyika concentrate and to determine the design parameters of the refinery. TCM has worked with more than 10 different ore concentrates that contain niobium and tantalum. In addi�on, they have processed concentrates containing pla�numgroup metals, rare earths, gold, �n, vanadium and iron, tungsten, zircon and hafnium, nickel and copper sulphides as well as low levels of radioac�ve materials such as uranium, thorium and other fission daughter products. The advantage of the chlorina�on process is the ability to convert the bulk of these into chlorides that can be separated and purified to high grades. The chlorides are then oxidized to oxides and chlorine which is recycled to the reactor. Therea�er, The Resonant Group (Resonant) will complete the engineering drawings for the refinery using these design parameters. Resonant is a mul�-disciplinary engineering business ac�ve in the metals, minerals, chemicals, oil and gas, and infrastructure sectors. Whilst based in South Africa, Resonant is also ac�ve in the Americas, Europe, Asia, and the Middle East. Globe has selected Geolabs Global as the laboratory to process the Kanyika ore to concentrate. Geolabs Global is a leading provider of mineral processing solu�ons for the mining and minerals industry based in South Africa. For Phase 1 of the project, Globe has selected Malawi-based construc�on company, S.R. Nicholas Ltd, to provide the preliminary design and civil engineering of the plant. Since 2016, EDS has been developing a horizontal, mul�-sha� mill that has a significantly lowered power consump�on than the equivalent SAG ball mill. The EDS mill produces -1mm crushed ore that is ideal for gravity spiral separa�on and is expected to allow some gangue to be discarded prior to reaching the ball mill. In the revised flowsheet, Globe expects both capex and opex to be reduced by about 10%. The final cost savings will be published in the revised feasibility study (refer below). Refinery Design The final refinery design is dependent on the current test work results which will determine the bespoke process design criteria to be used in the final engineering drawing. Areas of focus are: • the discard rate of gangue from the proposed gravity spiral plant; • determining the size and opera�ng parameters of each of the steps in the refinery by processing the concentrate through the chlorina�on pilot plant; and • achieving target product quality by TCM to meet marke�ng purity requirements. The target for comple�on of all design work is Q4 2023. Feasibility Study Once the refinery design is finalised, all vendors will have their cost es�mates verified and finalised for execu�on of their respec�ve por�ons of the overall plant and refinery. Globe expects this to be completed by Q1 2024 when the revised feasibility study will be published. Authorisation for Release This ASX Announcement has been authorised for release by the Company’s Chief Executive Officer, Grant Hudson. 2 For further information, please contact: Grant Hudson Chief Executive Officer +61 8 6118 7240 gh@globemm.com Fiona Bryce Media and Investor Relations +61 400 029 258 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. Drilling programs totalling 33.8 kilometres of percussion and core drilling have defined the extent of 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. 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. 3 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: Table 1: MRE for KNP using a 1,500 ppm Nb2 O5 lower cut Table 2: MRE for KNP using a 3,000 ppm Nb2 O5 lower cut Category Resource (Mt) Nb2 O5 (ppm) Ta2 O5 (ppm) Category Resource (Mt) Nb2 O5 (ppm) Ta2 O5 (ppm) Measured 5.3 3,790 180 Measured 3.4 4,790 220 Indicated 47 2,860 135 Indicated 16.6 4,120 160 Inferred 16 2,430 120 Inferred 2.8 4,110 190 TOTAL 68.3 2,830 135 TOTAL 22.8 4,220 190 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. The Company confirms that is not aware of any new informa�on or data that materially affects the informa�on included in the 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. 4