Globe Uranium - Drilling update, Malawi

Highlights

• 38 RC drillholes now completed at Kanyika, totalling 4,052m

• Results from hole numbers 10 to 38 awaited, due shortly

• Initial 5,000m RC drilling at Kanyika on track to be completed this month

• Diamond drilling to commence at Kanyika this month

• RC rig to move to the Livingstonia project at end of August to drill 5,000m on three prospects, then returning to Kanyika for a further 5,000m

Globe Uranium is pleased to provide an update on its drilling activities in Malawi.

Kanyika

On 26 June 2007, the Company reported results from the first nine holes of its RC drilling program at Kanyika, Malawi. These results demonstrated the down-dip continuation of surface mineralization exposed in trenching, and confirm the discovery of a multi-commodity uranium-niobium-tantalumzircon prospect.

The Company is extremely excited by the Kanyika prospect, and has committed to a total of 10,000m of RC drilling this calendar year in order to delineate a JORC compliant resource by December 2007. In addition, agreement has been reached with the Geological Survey Department of Malawi to use their diamond drill to conduct an additional 1,000m of core drilling (to commence this month) in order to verify geological and mineralisation models developed from trenching and RC drilling information.

To date, a total of 38 RC holes have been drilled at Kanyika. The Company is, however, experiencing some delays in obtaining analytical results from its contracted laboratory in Vancouver, Canada. Results for the next 29 holes will be reported as soon as they are available. Delays of this nature are being experienced by many exploration companies, mainly due to the excessively large numbers of samples being submitted to laboratories in the current climate.

Livingstonia

At the end of August, the RC rig will move north to the Company's Livingstonia Uranium Project, where three sandstone-hosted, roll-front style targets will be tested with 5,000m of RC drilling.

Radiometric surveying and surface sampling has demonstrated the presence of significant uranium at surface at the Chombe, Chiweta and Bunga prospects, despite the effects of tropical weathering.

At the completion of this program, the RC rig will return to Kanyika for a further 5,000m of drilling, to complete the 10,000m of RC drilling planned at Kanyika for the calendar year.

For further information please contact:

Mark Sumich, Managing Director, Globe Uranium: +61 8 9486 1779