1. Cost Advantaged Rare EarthsDamien Krebs
10 Nov 2015
www.ggg.gl | 11th International Rare Earths Conference, Singapore - 2015

2. 2
Developing Kvanefjeld – Greenland’s World Project
Set To Deliver the Right Rare Earths at Low Cost
 The world’s largest undeveloped resource of rare earth elements and uranium (JORC-code, 2012,
compliant), with huge upside (>1 Billion tonnes defined, <20% of project area evaluated)
 A primary product stream of high-purity critical rare earth concentrates (Nd, Pr, Eu, Dy, Tb, Lu)
 By-production of U3O8, lanthanum and cerium, zinc and fluorspar
 By-product revenue streams will see Kvanefjeld become the lowest-cost producer of critical rare
earth’s globally
 Positioned for permitting and development as uranium and RE prices rise
View over the Narsaq Valley that will host much of the project infrastructure, toward the North Atlantic Ocean

3. Mine, Concentrator, and Refinery in Greenland
3
Pilot plant – SGS Perth, 2012
• Uranium produced in
Greenland
• Refinery located in
Greenland
• La & Ce Separated in
Greenland
• Mixed Critical Rare
Earths Produced
• Zinc Concentrate
• Fluorspar Product
Project Configuration
Main
Product

4. Main Product is a mixture of high value rare earths (La and Ce reduced)
4
Main CMREO Product
• Kvanefjeld Project will Produce > 7,700 tpa of
Critical Mixed Rare Earth Oxide
• Significant Tb, Eu & Dy
• ~50% PrNd
La2O3, 59
CeO4, 1,025
Pr6O11, 913
Nd2O3, 2,930
Sm2O3,
309
Eu3O3, 28
Gd2O3, 234
Tb4O7, 38
Dy2O3, 231Ho2O3, 37
Er2O3, 105
Tm2O3, 9
Yb2O3, 82
Lu2O3, 7
Y2O3, 1,699
Tonnes per year REO production shown

5. Not too heavy, not too light, almost just right
5
Market Compatible Products%ofMarketvalue

6. More Valuable than Chinese Sourced Mine Feedstocks
6
High Value Separation Plant Feed
Used China Southern Rare Precious Metals Exchange (CSRPME) 5th November 2015 prices
$24.00
$4.90
$0.96
$0.52
$0.64
$1.98
$1.28
中钇富铕矿- 精矿原料中每千克磁
值
Magnetic Materials La Ce Eu Gd Ho Er
$27.34
$1.28
$3.85
中国龙南 - 精矿原料中每千克磁性物质价值
Magnetic Materials La Ce Eu Gd Ho Er Tm Yb Lu Y
$33.90
$0.98
$0.48
$1.01 $1.17
湾 - 精矿原料中每千克磁性物质价值
aterials La Ce Eu Gd Ho Er Tm Yb Lu Y
Magnetic Materials’ Value Per Kg in the Concentrate
$31.81
$0.92
$0.46
$0.97 $1.05
Magnetic Materials La Ce Eu Gd Ho Er Tm Yb Lu Y
Kvanefjeld FS
Basket Price:
US$ 39.27/kg
CMREO
Longnan China
Basket Price:
US$ 32.89/kg
TREO
Xunwu China
Basket Price:
US$ 28.17/kg
TREO
Medium-Y Rich-Eu China
Basket Price:
US$ 36.20/kg
TREO
$24.58
$0.85
$0.64
$0.15
中国寻乌 - 精矿原料中每千克磁性物质价值
Magnetic Materials La Ce Eu Gd Ho Er Tm Yb Lu Y

7. Kvanefjeld Feedstock is a Premium Intermediate Product
7
Ideal Feed for Separation Plants
• High Purity
– 99% REO compared to ~92% for Chinese sourced
feedstock
– Less undesirable impurities to dispose
• Consistent REE feed
– Allows for smoother separation plant operation
• Secure Supply for 100+ years
• Consistent cost for feedstock supply
• Very low uranium and thorium
– Much lower than existing Chinese feed
– Radioactive elements removed in Greenland

8. No Environmental Pollution Generated from Making REEs
8
Sustainably Sourced from Greenland
• High Greenlandic Operating Standards
• Strong Social Benefits to the local community
• Large Greenland Tax Payer
• EIA shows no significant negative impacts
• Strong ‘Greenland’ branding for REE products
– Premium Price likely for REE Products

9. 9
Pro Mining and Stable Government
Greenland is Great
• Low Resource
Nationalism Risk
• Secure Mining Licence
System
• Low corruption
• Ranked #9* in the world
for Mining Country Risk
• Year round shipping
• Supportive local
government *2015 Aspermont World Risk Survey

10. Kvanefjeld Separation Plant Feedstock is competitive with current Chinese Supply
10
Comparison to Chinese Supply
• Show Comparison of Feedstock Prices
– Kvanefjeld US$14.86/kg (C1 cost before taxes and interest)
– Longnan US$30.88/kg
– Xunwu US$19.50/kg
– MYRE US$27.63/kg

11. Rare Earth Feedstock Supplied at Low Cost
11
Low Operating Costs
• By Product Credits net cost
$14.86/kg REO*
• Large Operating Scale 7,705
tpa CMREO
– Reduces management and
administration
• Simple Metallurgy
– Concentrate ore 10 times
– Atmospheric Leaching of
concentrate
*at current La Ce prices & Feasibility U, Zn, CaF2 and NaOCl prices.
Costs include transport to separation plant.
UraniumByproduct
Credit
-79
-13.8
-17.7
-6
-3
237
114.5
TotalOperatingCost
Byproduct credits
deduct US$122.5
million/year
LanthanumByproductCredit
CeriumByproductCredit
ZincByproductCredit
FluorsparByproductCredit
-3
SodiumHypochloriteByproductCredit
NetOperatingCost,US$14.86/kgREO
Kvanefjeld – Net Operating Cost (US$M/year)

12. Steenstrupine is a Unique and Friendly Mineral for Rare Earths
12
Simple Metallurgy
Can be concentrated 10 times
Non Refractory Concentrate =
Atmospheric Leaching

13. August 2011 SGS Australia
3 Successful Concentrator Pilot Plants Completed!
Extensively Pilot Tested
November 2012 SGS Australia
April 2015 GTK Finland

14. 14
Four Phase Refinery Pilot Plant Completed in Finland October 2015
Well Proven Metallurgy

15. Over 100 years of operating life likely
15
Very Long Life

16. 16
Have not had to sell the farm to progress development
Unencumbered Ownership
• No Dominant Share Holders
• Developing relationships with REE Industry
• Production available
• Non Binding MOU with China Non Ferrous
• Adequately funded to complete permitting
• Support from EU via the EURARE project
• Listed on the Australian Stock Exchange

17. 17
Mining Licence Expected in early 2017
Currently being Permitted

18. Certificate Of Origin: Southern Greenland
18
Greenland’s Contribution to the Modern World
Low Cost
Safe Investment Location
The Right Mix of Rare Earths
Easy Metallurgy
Very Long Life
No Dominant Shareholders
Permitting in 2016

19. Any Questions?
19

20. 20
Back Up Slides

21. 2015 Mean Adams 2015 Current
Basket Price US$/kg REO 45.6 71.6 39.7
$0
$10
$20
$30
$40
$50
$60
$70
$80
Comparison of CMREO Price Scenarios
Even at bottom of the cycle rare earth prices the project is profitable
21
At Current Prices = Cash Positive
Critical Mixed
REO
Intermediate
Product Net
C1 Production
Cost before
separation

22. Introduction: Greenland Minerals and Energy
Key Highlights – A unique world class mining project
Very attractive commodity portfolio
 Heavy rare earths and uranium are both recognised as strategically important commodities for the future
 Rare earths market characterised by limited capacity and increasing demand (particularly Dy, Nd, Tb, Eu
and Pr)
World-class, large scale development project
 Economically robust, proven technology, large-scale, long life production of rare earths and uranium
 Large JORC resource base to produce ~8kt CMREO, ~15kt LREO & 1Mlbs U3O8 per annum over 100 year
mine life
 Ideally located near international airport, existing towns and potential hydro-electric power source
Highly advantageous ore-type, makes for simple cost-effective processing, highly scalable production
 Low mass -high grade mineral concentrate produced through beneficiation
 Refining of mineral concentrate can be done in Greenland or off-shore
Strong management and technical team
 Experienced management team with proven track record
 Well-respected and knowledgeable technical/project team in place with exceptional local expertise
Globally significant, long life, low cost, multi-commodity asset
 Company to become one of the largest producers of rare earths globally and a major U3O8
 Company has low cost of production due to multiple by-product opportunities
Low political risk
 Stable, low-risk operating environment with government looking to develop new industries and
employment
 GME fully permitted to evaluate the project, exploration licence now includes radioactive elements
 Management and board have a solid working relationship with the government and are socially aware
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GREENLAND
MINERALS AND ENERGY LTD