I gave it a go and this is what I got:
I made this by extracting the image I want to use (filter>extract) then turning the contrast up on it (Image>Adjustments>Brightness/Contrast) so the lightest parts on the image are bright and the darkest are dark
(sorry I'm not being very specific but I forgot to take the numbers down when I was doing it
After this use the sponge tool (press O on your keyboard to find out where it is then left click and hold down and select the sponge), make your sponge big (to cover most of your picture) and use it to get rid of the pictures colour.
Then create a new layer (Ctrl + J) drag it to the bottom so it's under your image and fill it with the colour #807E4E. Then hold Ctrl and click the layer with your image on to select the shape of it. Drag the selection up and left a bit and press delete (make sure your on the bottom layer) to make the white outline.
Then to make the grit over the picture create a new layer and drag it on top so it's over the image and then use the brush tool to scribble little lines in black over the background (but still on the new layer) then make sure your foreground colour is #807E4E and your background colour is black and use the ocean ripple (filter>distort>ocean ripple) with the settings 3, 16. Then change the layers opacity to 50%.
Now create a new layer on top, fill it with black add the highest amount of noise (filter>noise>add noise) then change the layer opacity to 10% and the fill to 50%.
After this use the burn tool (same place as the sponge) to make the dark parts as dark as you want them and use the dodge tool to do the opossite.
To create the text I used the font 'Arial Black', the colour white, and written in capitals. Then rasterize the layer (right click on the layer and rasterize) and duplicate it. Hide the new layer and use the eraser on the original and delete the edges. Then unhide (if that's a word) the hidden layer and change the opacity to about 65%. Then merge these two layers and add noise to it (to about 17.95).
Create the lines and the stars with the custom shape tool and use the same method as I used on the writing to make it look gritty.
There ya go!
Sorry if that was the most confusing thing you have ever read...I think next time I should take note of what I actually did
I hope it was helpful. If you need anything explaining (and I wouldn't be surprised if you did because I got confused writing it
) just ask.