Day 1- Session 1: Strategic Metals and the Clean-tech Revolution Objective Capital Global Mining Investment Conference 2010 Stationers' Hall, City of London 28-29 September 2010 Speakers: Brian Wesson - Woulfe Mining Gary Billingsley - Great Western Minerals Jay Chmelauskas - Western Lithium Siegfried Konig - Vecor

1. day 1 – Session 1: Strategic metals and the clean-tech revolution ? Outlook for TungstenBrian Wesson – CEO, Woulfe Mining Outlook for Rare EarthsGary Billingsley – Exec Chairman, Great Western Minerals Outlook for LithiumJay Chmelauskas – President, Western Lithium Corp Recycling fly-ash waste – turning grey into greenSiegfried Konig– Managing Director, Vecor

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3. REBIRTH OF THE KOREAN MINING INDUSTRY Brian Wesson, CEO and President September 2010

4. Disclaimer Statements in this presentation other than purely historical information, including statements relating to Woulfe Mining’s future plans, objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to the risks and uncertainties inherent in Woulfe Mining’s business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. Note that Woulfe Mining refers to historical resource estimates in this presentation. Source, date, relevance, reliability and explanations on categories are presented with the historical estimates. A qualified person has not done sufficient work to classify the historical resources as current mineral resources. The issuer is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon. This PowerPoint presentation was prepared to assist interested parties in making their own assessment of Woulfe Mining and its mineral properties, and does not purport to contain all of the information that a prospective investor may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company, its assets and the information provided in this presentation. Any and all statements, forecasts, projections and estimates contained in this presentation are based on management’s current knowledge and no representation or warranty is made as to their accuracy and/or reliability. Unless otherwise stated, all resource and reserve estimates in the document are historical in nature and do not comply with the current NI 43-101 reporting standards.

6. Safe destination with daily flights from most capital cities around the word.

7. Advanced financial and legal system.

8. Security of title

9. 100% foreign ownership and directors

10. 10 year write down of capital

11. No government royalties

12. Corporate tax rate 20%

13. Strong banking sector with moderate rates.

15. Sangdong molybdenum stock-work, virgin lodes identified to have high grade veins at 5 to 10 times the molybdenum grade in main lode.

17. Lead, zinc founding mine Korea Zinc developed

20. Strategic metal under quota.

21. Buying on the open market forcing prices up.

22. Taxing export and wages rising

23. Buying projects and refineriesSource Roskill/ Wolfram Moly has been over $40/lb 30% price increase APT has been to US$600 mtu in 2010 terms 8

25. Resinco Capital Partners 12%

26. US Global 9.9%

27. Se Woo Mining Korea 9.9% (Vendor)Issued Shares : 214,292,250 Warrants : 60,638,000 Options : 7,525,000 Fully Diluted : 282,455,250 Liquidity – Ave Vol (3M) 540K Current share price : C$ 0.11 cents Current Cash position: C$3.5 million Debt: none Management – holds warrants and options Company valued : C$23 million market cap. vs Sangdong scoping NPV C$480 million, IRR 26.6% DCF 8%. Objective Capital values Woulfe C$0.90 to C$1.90/share Strategically placed in market with no affiliation giving large optionality

29. Molybdenum – US$15.00 per pound

30. 2.5 million tonnes milled per annum

31. Production APT 6000 tonnes per annum: (Gross US$146 million/annum)

32. Mine life 15 years mining with resources base sufficient for 40 years.

33. Resource based on foot wall vein, dilution 15% and 95% extraction factor

35. 26.4% Internal Rate of Return (IRR)

36. 3.4 years payback on US$ 289 M capital

37. Scoping study break even at an APT price US$167/mtu

39. Woulfe is the most feasible project our only large competitor of similar size is North American Tungsten in the ice with high build cost

40. Large skarn deposits are more economic than vein deposits.

41. Short development cycle due to extensive existing infrastructure ( mine development ,roads, water, power and established mine town.

42. Known mineralization, mine-ability and metallurgy

43. Woulfe has a Mine Development License and has reopened the mine.11

44. 12 Sangdong is the world’s No. 1 tungsten deposit outside of China Focus of scoping study 1,000 m strike each vein about 7 metres thick Close on 900 drill holes in the project with 40 years of underground mining of main vein 900 drill holes 40 drill holes

46. Site accommodation secured

47. Re-establish Sangdong level progressing well

50. Low technical risk

51. Low capital requirements

52. Short time to production

53. Ease of build

54. Supportive modern government

56. Historical target below 400 m in developed mine and open down dip.

57. Large goldfield over 2 km strike with 9 veins.

58. Over 1,000 historic face grades were sampled in 1994 at better than an ounce.

59. Current mine plans have been located and are being modeled.

60. Recent drilling located the No 7 Vein, substantiating the old data at grades consistent with what was expected. Historical grades vary from zero to 384 g/t.

61. Sample 1327 414.3m to 415.3m-3.3 g/t gold, 14 g/t silver

62. Sample 1328 415.3m to 416.3m-7.8g/t gold , 38g/t silver*non NI43-101 compliant and cannot be relied on

63. 17 Muguk Gold ...Korea’s largest gold mine Historical resource area being modelled 600 metre depth Current drill site collar drilling Vein 7 & Vein 8 Lodes open at depth Projected vein being drilled Yuil operating small mine

65. Mark Gelmon CFO

66. Amelia Wesson Director/ VP Admin. Corporate

67. Bill Kable VP Technical

68. Dr Kevin Kartun VP Business Development IR

70. Advisor Mr Bog-Gon Kim 30 years service Korean Tungsten at Sangdong, becoming GM

71. Advisor Kwan-Yi Jeong 5 years as GM Muguk Gold to closure 1997.

72. Colin Lutherborrow MAusIMM Resource geologist

74. Amelia Wesson Vice President Administration and Director Korea- Principal of Westech who was instrumental in working with governments and staff to restructure the Vatukoula Mine from 2,200 staff to 700 and induct and retrain the staff. Amelia previously worked in companies servicing the large mines in South Africa giving her an excellent understanding of personnel and administration.

75. John Icke Director over 12% shareholder , John has over 25 years’ global management experience in both the private and public sector. Currently CEO of Resinco Capital Partners Woulfe’s second largest shareholder.

76. Hubert Marleau, Director is Chairman, Co-Founder and Director of Palos Capital Corporation. With over 30 years of experience in the business and financial community, Hubert has been Governor of the Toronto, Montreal and Vancouver Stock Exchanges, and a director of the Investment Dealer Association of Canada.

79. Low Ownership Risk-Security of title, 100% owned projects/ foreign ownership/ foreign directors, sophisticated country which outgrew China last year

80. Experienced Management Team in mine development and operation complimented by experienced professionals from former Korean Tungsten team

81. Aggressive Development schedule to optimise return

82. Low Project Risk mine was mined and metals recovered

83. Strong pipeline of diversified advanced projects with known mineralisation

84. Close to markets and in heart of world’s economic power house

85. Strategic play with institutional shareholders and no off take or affiliation

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88. TSX.V: GWG / OTCQX: GWMGF info@gwmg.ca OUTLOOK FOR RARE EARTHS Objective Capital Global Mining Investment Conference September 28, 29 2010 London, UK

90. "Forward-looking statements include, but are not limited to, statements regarding projected processing capacity, output and revenue, GWMG’s continued advancement of its mineral exploration, projects, processing operations and business plans. When using this presentation, the words “potential”, “anticipate”, “estimate”, “forecast”, “believe”, “expect”, “may”, “project”, “plan” and similar expressions are intended to be among the statements to identify forward-looking statements."

91. Although GWMG believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Readers are advised to refer to GWMG’s current Annual Information Form available at www.sedar.com for a full description of risk factors.

92. GWMG shall not be liable or responsible for any claim or damage, directly or indirectly, special or consequential, incurred by the user arising out of the interpretation, reliance upon or other use of the information contained in this presentation.2

93. Fully Integrated Production Model ALLOY SALES LCM/GWTI ALLOY PROD’N RE METAL SALES METAL MAKING REO SALES SEPARATION BY-PRODUCT SALES PROCESSING MINING EXPLORATION Enterprise profitability increases with each stage of processing 3

94. What Are Rare Earth Elements? Unique optical and magnetic properties LREE HREE 4

95. Where Are Rare Earth Elements Used? Vital to our standard of living 5

96. World Mine Production and Reserves(tonnes REO) Source: USGS Mineral Commodity Summaries, January 2010 6

97. Global REE Demand Rising Rapidly 7

98. Rising Demand For REE’s and ApplicationsIncreased REE Demand Comes From China 6 8 Source: Lynas Corp. using data from industry participants, Roskill & IMCOA

99. China: Export Quota ReductionsChinese Rare Earth Export Quotas 2004 to 2009 (tonnes REO) Source: 2005-2009, IMCOA; 2010, Metal Pages 9

100. REO Prices Over The Last 12 Months CeO2 US$/t Dy2O3 US$/kg La2O3 US$/t Nd2O3 US$/t Sm2O3 US$/t Eu2O3 US$/kg Source: Asian Metal 10

101. If Not China Then Where?Sample of Known RE Deposits Source: Mariano 11

102. Global Rare Earth Projects Under Development A limited number of Rare Earth deposits with 2014/2015 production potential Thor Lake TSX:AVL Kvanefjeld ASX:GGG Bayan Obo China Hoidas Lake TSXV:GWG Kutessay-TSXV:SRU Mianning Mountain Pass, CA Molycorp Ionic Clays Dong Pao-Sojitsu/Toyota Vietnam Nolan’s Bore ASX:ARU Steenkampskraal TSXV:GWG Mount Weld ASX:LYC Dubbo ASX:ALK Potential Production by 2014/2015 Potential Production by 2012/2013 12

103. Global Rare Earth Projects Under Development Honourable Mention: Production 2015+ ? Sarfartoq TSXV:HUD Nora Karr TSXV:TSM Strange Lake TSXV:QRM Bokan TSXV:UCU Bear Lodge TSXV:RES Wigu Hill Montero (private) Kangankunde ASX:LYC Zandkopsdrift Frontier (private) 13

104. Where Will Rare Earths Come From?Supply Sources (t REO) 14 Source: 2005-2009, IMCOA; 2010, Metal Pages and Lynas Corp.

105. Projected Shortages 2014 15 Source: IMCOA; Lynas Corp.

106. Attributes: Current RE Projects Source: IMCOA, Company filings, websites and industry journals 16

107. Optimistic Supply/Demand Imbalance 2014 FOR NdFeB MATERIALS IT WILL BE CLOSE! 17

108. OBSERVATIONS There is definitely a need to develop RE sources outside China for PM materials. It’s prudent for both China and ROW. In the long term there are likely enough RE resources to supply the global RE market. Sources of PM materials are likely to remain tight in the near term given that it takes 7 to 10 years, on average, to bring mining projects on stream, (in mining-friendly jurisdictions!). The world likely does not need any more large “LREE” projects. The focus should be on projects that can supply significant “HREE” per tonne mined. Balance is important. It is not enough just to bring RE sources on stream. We must also develop separating and metal making capability. 18

109. TSX.V: GWG / OTCQX: GWMGF info@gwmg.ca THANK YOU

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111. Western Lithium September 2010 “Outlook for Lithium” www.westernlithium.com

112. Kings Valley Lithium Project Cautionary Statement This presentation contains projections and forward looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change. 45

113. China Overtakes USA in 2009 Automobile Production and Sales Source: Wikipedia; Associated Press; US Bureau of Economic Analysis 46

114. Oil Consumption for Emerging Economies China/India can expect a 10 to 20 fold increase Source: Marc Faber 47

115. $280 Billion (Auto’s, Electronics) This Decade… Major Multi-National Companies will Depend on Lithium Producers $70 Billion (Batteries) $1 to 3 Billion (Lithium) 48

116. Worldwide Lithium Production 2008 USA 1 deposit 3,700 T China - Multiple deposits 9,900T Chile & Argent. - 2 deposits 71,000T Australia 1 deposit 28,700T Source: Roskill 2008 49

117. Quotes “Demand will be so big there will have to be new sources of supply….” Rockwood (Chemetall) Holdings Chairman &CEO, Seifi Ghasemi – Feb. 2010 “We have begun to look for our next source of lithium to be ready [by the middle of the decade]” FMC Corp President, Pierre Brondeau - July 2010 "We are one of the largest and most responsible companies in the world, so we are always looking at options….. If we don't move fast enough, we will miss our chance,“ SQM president , Patricio de Solminihac – Aug. 2010 50

118. World Lithium Resources Western Lithium Producing Development Projects M Tonnes LCE No Development Plans Source: R. Keith Evans, 2010; Roskill Information Services Ltd., 2009 for China; and company disclosures. Estimates are not NI 43-101 compliant. 51 51

119. Estimated Lithium Supply and Cost Curve Includes Announced Producer Expansions Spodumene (hard rock) Mines1,3 Chinese Salars4 Uyuni, Bolivia4 7 Argentinean (silty clastic) Salars3 6 5 000s $/Tonne Estimated Production Cost Atacama (halite) Salar1,3, Chile FMC1,3, Argentina Western Lithium Nevada2 Est. Cost Range 4 000s Tonne/pa LCE 3 2 1 400 500 300 200 100 000s Tonne/pa LCE 2008 World Production1 Incremental demand from 5% EV and 10% Hybrid adoption5 Incremental demand from 10% EV and 20% Hybrid adoption5 Roskill 2009. (2) WLC PAEE, Jan. 2010. (3) Company Estimates for selected proposed projects. (4) Analyst Estimates. (5) Canaccord Adams. 52 52

120. Market Opportunity – Explosive Growth Est. World Market with EV's Demand - Tonnes LCE (000’s) Price - US$/Tonnes LCE Price Demand Est. World Market with 5.9% CAGR (no EV’s) Financial Crisis World Lithium Market Potential World Lithium Market Source for Market Size: Roskill 2009 for historical demand; Canaccord Adams for projections (No EV scenario includes 12% annual growth in electronic use and 4% growth in industrial use). Source for Pricing: Industrial Minerals. Lithium carbonate, del continental, USA large contracts, US$ per lb, high. 53

121. Western Lithium in Nevada 54

122. Highlights of Stage I Scoping Study Proposed Project Expected Low-cost LCE Producer Planned production: 27,700 tpa LCE 115,000 tpa potassium sulphate (SOP) Cash operating costs: $1,967 per tonne ($0.89/pound) LCE (after SOP by-product credit) Average annual revenue: $263 million NPV (discounted at 8%): $714 million IRR (pre-tax): 28% Capital costs: $427 million Operating Life: 18 years (with expansion potential) NI 43-101 compliant Preliminary Assessment and Economic Evaluation (PAEE). All above figures in U.S. dollars. 55

123. Stage I Development Timeline 56 2008 2009 2010 2011 2012 2013 2014 Resource Delineation Engineering Scoping & Feasibility Studies Pilot Testing Permitting Detailed Engineering & Construction Commissioning 56

125. $6.5 Million In-The-Money Warrants

126. 82.8 Million Shares Outstanding

127. 111.4 Million Fully Diluted

128. 23.7% owned by Western Uranium

129. Market Cap. $93 million (Cdn)WLC Share Price 57

130. www.westernlithium.com Email: info@westernlithium.com Western Lithium Investor Relations: 1-604-681-3071 Exchange Symbols: TSX-V: WLC; PK: WLCDF

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133. Forward Looking Statements This disclaimer forms part of and is incorporated in the accompanying material. No representation or warranty, express or implied is made, in relation to the accuracy or completeness of the information provided in this document or any other information concerning the Vecor Group otherwise provided to the recipients. Whilst every care has been taken with preparation of the information contained in this document, no responsibility is accepted by the Vecor Group or any of its representatives, directors, partners, employees or professional advisers for any information provided in this document or otherwise provided to the recipients or for any action taken by the recipients on the basis of such information. In particular, no representation or warranty is given as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in the information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Each recipient of the information should make its own independent assessment of the information and take its own independent professional advice in relation to the information and any action taken on the basis of the information.

134. Vecor’s Vision To be recognised as the World Leader in fly ash recycling technologies by 2013

135. Fly ash dump at power plant

136. Energy from Coal

138. Trend towards higher enforcement of particulate emissions.

140. 10 billion tonnes legacy in landfillFly Ash dam spill, Tennessee USA 2008

142. 2007 – 2009 Developed Additional IP

143. 2009 – 2010Ceramics, Minerals

144. 2011Comprehensive UtilisationPilot plant since February 2008, processing techniques, proprietary manufacturing equipment Process & engineer fly ash to produce versatile raw materials. Manufacture “green” products using fly ash as clay replacement Enabling 100% utilisation of waste fly ash

145. Vecor Product Capabilities High-margin “Green” raw materials & building products Ceramic Tiles Ceramic Proppants Recycled Minerals Refractories Bricks Pavers Aggregates Sand Prototype products produced at Vecor’s pilot plants in China and Italy since February 2008

146. Vecor’s Business Recycle Products Minerals Aluminum Silicates VecoFillTM Challenge Ceramic Proppants Oil and Gas Industry Coal Power Plant Cenospheres VecoCenTM Fly Ash Landfill Ceramic TilesBricks, pavers Processing Facilities MagnetiteVecoMagTM Activated Carbon VecoFiltersTM Sand & Aggregates Low-cost, high valueIndustrial Minerals Energy Efficient Clay Replacement Proprietary recyclingtechnologies Waste Fly Ash

148. Same Chemistry

149. 30% Less energy & GHG emissions

150. 30% Saving in manufacturing costs

151. 14% Less water required

153. Development Plan

154. Financial Model

155. Why invest in Vecor? Vecor gets paid to take the Fly Ash Vecor gets paid by processing the Fly Ash & selling Raw Materials Vecor gets paid by selling the products made from Raw Materials Ceramic Tiles Profitability Sustainability Growth Proppants Processing By-ProductsAluminum Silicates (Vecor Clay) Cenospheres (VecoCen) Magnetite (VecoMag) Activated Carbon (VecoFilters) Sand &Aggregates Revenue: Vecor produces and sells commercial and industrial products using the Raw Materials with its proprietary technology and Engineering Revenue: Vecor Processes Fly Ash to make Raw materials for Industry and other mineral by-products that it sells to customers, partners and subsidiaries. Vecor Products Tiles, Cladding, Bricks, Blocks, Pavers, Proppants Revenue: Vecor gets paid to take Fly Ash from Coal Power Plants, because it removes liability.

156. Invitation Siegfried Konig +44 7783 939 703 s.konig@vecor.com

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