Globe Metals & Mining announced an update on its drilling activities at the Company’s Mount Muambe REE Fluorite Project of Mozambique.

Highlights
1. 25 RC drill holes completed of 2011 campaign totaling 2,182 meters
2. Drilling to date has intersected widths of up to 40 meters of visual fluorite mineralization
3. Results from the first 8 holes expected in mid late August
4. Initial 5,000 meters RC drilling targeting Main Fluorite (+REE) Zone on track for completion this month. Historical results include
(I). MURC001 8 meters 1.23% TREO, 10.9% HREO and TREO ratio with 102 ppm Dy2O3 oMURC001 15 meter 43.6% fluorite Inc 10 meters 52.9% fluorite.
(II). Preparation of drill pads underway for 5,000 meters RC drilling targeting recently identified REE zones

A total of 2,182 meters of RC extensional and infill drilling in 25 holes on the Main Fluorite Zone has been completed to date. Further extensional drilling is continuing, with the entire 6,000m program on track for completion in early August. Results for the first eight holes are expected by late August.

The aim of the Phase I program is to confirm and extend multiple areas of high grade fluorite and associated rare earth mineralization identified in the 2010 drilling program.

Fluorite mineralization intersected in the 2011 program to date shows generally thicker packages of fenite and associated fluorite mineralization on the western margin of the Main Fluorite Zone. The 2011 drilling has encountered intercepts of up to 40m of visual fluorite mineralization.

Clearing of drill pads designed to test at least three REE targets outside of the Main Fluorite Zone with a further 5,000 meters of RC drilling have also begun.