The Board of Global Strategic Metals NL is pleased to announce that the Austrian Mining Authority (Mines Authority) has granted the Company a mining licence in respect to its 80% owned flagship Wolfsberg Lithium Project thereby allowing the Company to comply with its obligation to carry out mining activities on the Project within two years of the granting of the original exploration licence. A formal application and hearing was held in St Gertraud, Carinthia, Austria in December 2012 where groups representing the Town Council, Environmental and Public interest were present along with all departments of the Mines Authority. Various exemptions and variations were successfully applied for by Company to the Mines Authority in connection with the granting of the Mining Licence.

The Mining Licence permits the Company to carry out mining activity to extract 2x500 tonne bulk samples (Bulk Samples), without the requirement to complete a second egress (an escape way/drive of approximately 180 metres) as originally stipulated. This variation to the original licence provides significant time saving together with a cost saving of approximately €200,000 in contractor fees which would have been incurred to complete the egress.

The Company is required to install fire extinguishers and communication between face and surface as is standard practice during the exercise. Global was also successful in securing a reduction in the bond it is required to pay from €200,000 to €20,000. With the granting of the Mining Licence (at a negotiated saving to the Company of approximately €430,000) the Company has already called for three tenders from local contractors to extract the Bulk Samples. Once the Bulk Sample exercise is completed, the leases pertaining to the Project will be granted to the Company in perpetuity. Commenting on this development, Global’s Chairman Tony Sage stated that, “the grant of the Mining Licence places the Company in an excellent position to advance the Project. The anticipated achievement of absolute lease security will be a significant milestone for the Company enabling it to progress with orderly development towards a concentrate and then carbonate production to supply the European lithium market.”