1. Kuannersuit (Kvanefjeld) Project
Ministry of Industry and Mineral Resources
v/ Jørn Skov Nielsen
Kuannersuit (Kvanefjeld) Project

2. Area around Kuannersuit (Kvanefjeld)
Greenland Minerals & Energy (GME) REE + uran project - Kuannersuit
Kvanefjeld: 619 Mt
4.79 Mt REO,
283 M lbs U3O8
1M tonnes Zn
New zones
REE + Uranium
+ Zinc
Kuannersuit/
Kvanefjeld
4km
License Boundary
Area around Kuannersuit (Kvanefjeld)

3. Kvanefjeld
The town of Narsaq is located 10 km from Kvanefjeld and is expected to provide both general labour and services to the Project
Source: GME 2014
Kvanefjeld Plateau

4. Kvanefjeld Multi-Element Project
Source: GME 2013
Overview of the Narsaq Peninsula, south Greenland, view is toward the north. The Kvanefjeld project is easily accessed by ship from the North Atlantic, year round. The distance from Narsaq town to Narsarsuaq Airport is 45 km.

5. Kvanefjeld multi-element project
REE’s, uranium, zinc
One of the world’s most strategically important mineral projects - 100% owned by GMEL
One of the world’s largest REE-uranium resources
Highly accessible – bulk ore bodies favourably located in southern Greenland near towns,
harbours and airport
Feasibility level ‘Mine and Concentrator Study’ demonstrates long-life, cost-competitive production of rare earths and uranium; the start point of a mining project that will continue to evolve for decades
Greenland is politically stable and pro-mining; attracting increasing international interest
Source: GME 2013

6. Kvanefjeld Project – Global resource
Mineralisation is hosted by lujavrite. The main ore mineral is steenstrupine, which is the dominant host to both uranium and REE’s.
Project overall resource inventory: 956 Mt containing 575 Mlbs U3O8 ,
10.33 Mt TREO, 2.25 Mt zinc
HREE is 12 % (JORC-code compliant, Prepared by SRK Consulting)
Kvanefjeld Deposit: Global resource: ppm U3O8, 1.06% TREO, 0.22% zinc
Sørensen Deposit: Global resource: ppm U3O8, 1.1% TREO, 0.26% zinc
Zone 3 Deposit: Global resource: ppm U3O8 1.16% TREO
Source: GME 2013

7. Greenland Minerals & Energy (GME) REE + uran project - Kuannersuit
CAPEX is expected to be more than DKK 5 mia. based on previous calculaltions.
GME has made a MoU with China Non-Ferrous Metal (NFC) in order to advance and secure the path to a rare earth market.
Without alignment with a partner that is proficient in RE separation, it is extremely challenging to become an effective rare earth producer.
Expected workforce during the construction phase is between 1, ,000 mainly (FIFO – Fly In Fly Out).
Expected workforce during the operation phase is around 700.
GMEs infrastructure at the project area.

8. Scenario 1+2+3
Processing of minerals is divided into three different scenarios where scenario 1+2 is considered the base case scenario in the feasibility study.
Scenario 1: Mechanical processing where REE + uranium (steenstrupine) and zinc are separated into two different concentrates.
Scenario 2: Chemical processing (refinery) where REE and uranium are chemically separated into a uranium oxide (yellow cake) and a Rare Earth Carbonate.
Scenario 3: Rare Earth separation into individual RE products. This process is considered largely unfeasible to conduct in Greenland. No emerging RE miner has the technology to conduct RE separation, and it would take years, and excessive costs, to develop such technology independently. The technology is costly to implement for this type of complex chemical processing in Greenland.

9. GME
Greenland has prolific polymetallic resources of Uranium and Rare Earth Elements
Kvanefjeld (Ilimaussaq) - Global (JORC) uranium resource of 575 Mlbs U3O8 @150ppm U3O8 cut off
Coincident REE resources of 10.8 Mt – one of the world’s largest with huge upside
<20% of prospective ground in northern Ilimaussaq complex evaluated
Olympic Dam’s resources are 5,404 Mlbs
Source: BCC, Company Filings and websites as at January 27, 2012
Current JORC resource
Source: GME 2014 *
*Geological resource estimate generated by Henning Sørensen, published by the IAEA, of 150ppm U3O8 cut-off

10. The Kvanefjeld Project – Project Timeline
Key Milestones: mining license application, confirmation of partners, off-takes
Environmental & Social Baseline Studies
SIA and EIA
Mining License Application
Detailed Engineering
Permitting and Approvals
Strategic Partner Engagement
Construction
Stakeholder Engagement
Zero tolerance repealed
Commissioning
Mine & Concentrator Study completed
Development strategy
Finalised
Exploitation license
decision
Construction
commences
Apply for
Exploitation license
2013
2014
2015
2016
2017
2018
Process Design & Cost Estimation
JV Partner engagement,
Refinery piloting & Off-take Agreements
Project Funding and Construction
Source: GME 2014