Mr Damien Hicks and his presentation of Lannavaara Iron Project at 26.11.2014 Olos Polar Center, Muonio, Lapland, Finland

1. Northern Lights Corridor
Introduction to the Lannavaara Iron Project
26 November 2014
Muonio, Finland

2. Ownership Structure
SCANDINAVIAN
RESOURCES AB
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Hannans Reward Ltd
Est. 2002
Listed on the Australian Securities Exchange
Based in Perth, Australia
www.hannansreward.com
Scandinavian Resources AB
Org No. 556737-6263
Est. 2008
Based in Malå, Sweden
100%

3. SCANDINAVIAN
RESOURCES AB
Jonathan Murray
Non-Executive Director
• Director of Hannans Reward Ltd (2010).
• Partner of Steinepreis Paganin
• Principal legal practice areas include equity
capital markets, takeovers, project
acquisitions and divestments, corporate
governance, commercial law and strategy.
Olof Forslund
Non-Executive Director
• Director of Hannans Reward Ltd (2012).
• Geophysicist with extensive international
experience in the mineral exploration
industry.
• Previously Regional Manager of SGU
Mineral Resources Information Office.
Directors & Management
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Damian Hicks
Managing Director
• Co-Founder of Hannans Reward Ltd
(2002).
• Financial, legal and compliance
qualifications
• Non-executive director of funds
management company Growth Equities
Markus Bachmann
Non-Executive Director
• Director of Hannans Reward Ltd
(2012).
• Corporate finance professional and
founding partner of Craton Capital.
• Craton Capital awarded Fund Manager
of the Year at the Mining Journal’s
“Outstanding Achievement Awards”
during December 2010.
Magnus Arnqvist
Non-Executive Director, Kiruna Iron AB
• MD of Bergteamet
• Ex-MD of Europe’s largest zinc mine.
• Mining engineer with Rapallo
(Australia) and Mine Manager of the
Kristineberg, Storliden and Maurliden
Mines (owned by Boliden).
Amanda Scott
Exploration Manager
• Geologist with 10 years experience.
• Responsible for developing the Kiruna Iron
Project portfolio and the SCR gold and
base metals portfolio since inception.
• Previously Exploration Manager for
Hannans Reward Ltd (2008-2010) and
Scandinavian Resources Ltd (2010–2012)

4. Main Iron Project, Rakkuri
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Operating iron mine
at 1,365m depth
Potential open pit
iron ore mine
Rakkurijoki
 Current JORC Inferred resource of 74.5Mt @
39.7% Fe (down to 350m) - mineralisation
currently open at a depth of >400m - positive
scoping study completed in February 2013
Rakkurijärvi
 Current JORC Inferred resource of 69.6Mt @
28.5% Fe (drill spacing to 150m) - mineralisation
currently open at a depth of ~150-300m; additional
resource drilling required
Rakkuri (Combined)
 Ore upgrades to +68% Fe product (DTR-analysis)
& requires flotation of sulphides
 Excellent location for mining - 4km from Kiruna,
~1km from open access, heavy gauge rail, 250m
from the road
 Area of national interest for mining & reindeer
herding
 Potential for a 15 year open pit mining operation

5. Location - Lannavaara
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6. Introduction to the Concept – Lannavaara
• Potential to be a large, long-life (+25 year) project.
• High iron content product (+69% Fe) in low sovereign risk
jurisdictions.
• The Project comprises exploiting a large magnetite iron
resource at Lannavaara, converting the ore into a high
quality iron product, transporting the product 170km to an
ice-free, deep-water port and shipping the product to
market.
• The Project is at the Conceptual Stage: social,
environmental, infrastructure, marketing, processing,
mining and exploration related investigations are at early
stages.
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7. Lannavaara Iron Project - A Lengthy Process
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Transport to Market
Reload the Ship at the Quay
De-Ice, Unload & Store Product
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in the Mountain
Transport Iron Product on New Rail
with Finnish Gauge or Pipeline
Shareholders
Mine Rock and Extract Ore
Environmental
Explore for Iron Deposits
Process Ore into Iron Product
Finland
Sweden
Norway
Social & Cultural
Stakeholders

8. Rail or Pipeline – Lannavaara to Skibotn
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9. Rail or Pipeline – Lannavaara to Skibotn
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10. Gas Pipeline – Skibotn to Lannavaara to Kiruna
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• Study completed by Ausenco
(www.ausenco.com)
• Gas pipeline and slurry / water
return pipeline technically feasible
• Pipeline:
o buried beneath the surface (in
Sweden/Finland)
o less impacted by severe
weather events
o less impact on the community
o highly reliable
• Skibotn to:
o Kaaresuvanto – 160km
o Lannavaara – 204km
o Svappavaara – 303km
• Review of social and
environmental permitting process
Skibotn
Kaaresuvanto
Lannavaara
Svappavaara
Kiruna
Malmberget

11. Rail Logistics Assumptions
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Assumptions
Locomotives Diesel / LNG
Port Capacity 8Mt pa (with options for expansion)
Vessel Capacity 250,000DWT
Rail Gauge Finnish standard (25 tonne axle-load and 8 t/m)
Wagons 100t total weight, loading 80t of product, 12.5m long
and 46 wagons in total
Tonnes of Ore Per Train 3,680t of ore
Standard Train Length 675m (including locomotives)
Trains Per Day 7 (planning caters for 8)
Train Cycle 12 hours
Marshalling & Train Movements
Before entering the mountain
in the Port
Ore Handling In the mountain
Quay & Shiploader The center of the ship loader is the only real quay,
the vessel is moored and resting at 5 strong mooring
points with fender system, adapted to tidal waters.
Power Requirements 3,700 kW
Rock Excavation 335,000m3

12. Rail / Pipeline – Unloading & Storage
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Underground (in-the-mountain)
de-icing, unloading facility (or
dewatering) and storage facility
which limits dust, noise and
impact on the nature
Rail or
pipeline
Note: This image is for illustration purposes only and has not been the subject of analysis by SRAB

13. Gas Transmission into Lapland – An Opportunity
Lannavaara Iron Project may
present catalyst for new business
opportunities in Lapland
(e.g. supply of LNG / NG)
What is the demand for LNG / NG
in Lappland?
• Industry
– Norway, Norrbotten & Finnish
Lapland
Skibotn could provide LNG:
• Storage & Bunkering
LNG can be transported by:
• Truck and Rail
NG could be transported by:
• Pipeline
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RESOURCES AB
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14. Stakeholder Briefings
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Muonio Kommun
Tunturi-Lapin Kehitys Tapani
Haapasaari
Kolari Kommun
County of Troms
City of Tromsø
Port of Tromsø
Troms Chamber of Commerce
Confederation of Norwegian
Enterprise
Storfjord Kommun
Enontekiö Kommun
Kiruna Kommun
Luleå University of Technology
Regional Council of Lapland
Reindeer Herders' Association,
Finland
Käsivarsi cooperative
Lapland Chamber of Commerce
Lannavaara and Övre Sopero
Communities
Norwegian Public Roads
Administration
Joint Barents Transport Working
Group
Finnish Transport Agency

15. Competing Interests
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RESOURCES AB
Competing interests in
Västerbotten and Norrbotten
Many competing interests in
Sweden but high prospectivity

16. Next Steps
Communications
• Stakeholders – Ongoing
Scoping Study
• Unloading, Storage & Reloading – part-completed
• Concentrate & Gas Pipeline – part-completed
• Social License – tender process completed
• Environmental Permitting – tender process completed
• Rail – tender process completed
• Exploration & Metallurgy – ongoing throughout 2015
• Financial analysis – December 2015
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17. Tack så mycket
Kiitos
Takk
Giitu
Thank you
SCANDINAVIAN
RESOURCES AB
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18. Contact
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RESOURCES AB
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For more information please contact:
Damian Hicks
Managing Director
Scandinavian Resources AB
+46 703 220 226 (M)
damianh@hannansreward.com (E)
Amanda Scott
Exploration Director
Scandinavian Resources AB
+46 703 221 497 (M)
amanda@hannansreward.com (E)