World class production centre in Greenland

RARE EARTHS, SPECIALITY& STRATEGIC METALSINVESTMENT SUMMIT

IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 13-14 MARCH 2012

www.ObjectiveCapitalConferences.com

World class production centre in GreenlandJohn Mair – CEO, Greenland Minerals and Energy

“Specialty Metals for a Greener World”

Investor Presentation, February 2012

Important NoticeThis presentation contains only a brief overview of Greenland Minerals and Energy Ltd (Greenland Minerals) and its respective activities and operations. The contents of this presentation may rely on various assumptions and subjective interpretations which are not possible to detail in this presentation and which have not been subject to any independent verification.

This presentation contains a number of forward looking statements. Known and unknown risks and uncertainties, as well as factors outside of Greenland Minerals’ control, may cause the actual results, performance and achievements of Greenland Minerals to differ materially from those expressed or implied in this presentation.

To the maximum extent permitted by law, Greenland Minerals and its officers, employees and advisers are not liable for any loss or damage (including, without limitation, any direct, indirect or consequential loss or damage) suffered by any person directly or indirectly as a result of relying on this presentation or otherwise in connection with it.

The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue and has been prepared without consideration of your objectives and needs and financial position. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Greenland Minerals or its activates.

JORC Code Compliance – Consent of Competent Persons

The information in this report that relates to exploration results, geological interpretations, appropriateness of cut-off grades, and reasonable expectation of potential viability of quoted rare earth element, uranium, and zinc resources is based on information compiled by Jeremy Whybrow. Mr Whybrow is a director of the Company and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Whybrow has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Whybrow consents to the reporting of this information in the form and context in which it appears.

The geological model and geostatistical estimation for the Kvanefjeld deposit were prepared by Robin Simpson of SRK Consulting. Mr Simpson is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Simpson consents to the reporting of information relating to the geological model and geostatistical estimation in the form and context in which it appears.

Overview

Greenland – moving to a natural resource based economy

Uranium license issued late 2011, clear licensing framework

Kvanefjeld REE-Uranium project

Project geography, mineral resources

Process flow-sheet development - low technical risk, cost competitive

Beneficiation developments – heightened efficiency, lower costs

Atmospheric leaching – high U & heavy REE extractions

Forward strategy, funding options

ASX: GGG52 Week Range: $0.41 – 1.41 AUDShares: 410 MMarket Cap: $220 M AUDCash: $10.5 M AUDTop 20 shareholders control ~75%

Market Details:

Specialty metal focused exploration and development company operating in Greenland

Primary aim: developing the Kvanefjeld multi-element project (REEs, U, Zn)

Project features world-class REE-U resource base with clear potential to become large-scale, cost-effective producer with strong growth potential

Listed on the ASX (GGG), also trades on US OTC (GDLNF), and Frankfurt (G7P)

Fukishima

GreenlandAn Emerging Mineral Province

Politically stable democracy: Autonomous constituent country within Kingdom of Denmark

Increasing independence with transition from Home Rule to Self Rule

Greenland controls 100% of mineral rights, formerly shared with Denmark

Pro-mining government – increased independence is dependant on establishing strong minerals and hydrocarbon industries

High-prospectivity, strong geological survey and bureau of minerals and petroleum, clear permitting framework

Kvanefjeld license now inclusive of uranium, clear path to mining license6

Kvanefjeld

“A world-class project built on a solid technical foundation”

Subject of 20+ years of state-sponsored R&D (1960’s – 1983)

Uranium focus, >$50 M (todays dollars) invested historically

Extensive metallurgical and infrastructure studies, including hydropower

Project successfully piloted at large scale

Five years of R&D conducted by GMEL (2007 – present)

Multi-element focus – REEs, uranium, zinc +, approx $60 M (AUD) invested

Strong in-house project technical team established

Strong relationships developed in Greenland

Synergies between uranium and REE extraction identified, multiple process options

Significantly de-risked, emerging as major new uranium producer, dominant heavy REE producer, price maker in light REE concentrates

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Timeline of Activities“A systematic approach from the ground up”

2007 2008 2009 2010 2011

Metallurgicalstudies

commenced

4th JORCResource

U, REE, Zn

1st JORCResource

U

Acquired project

20,000m drillingEnvironmental

Baseline studies

Engineering studycommenced

2nd JORCResourceU, REE


Baseline studies

InterimPFS Report

5,000m drillingGeotech, Metallurgical

Sterilisation


Baseline studies


Baseline studies

PFScommenced

3rd JORCResource

U, REE, Zn

Greenland moves from home-rule to self-rule. Controls 100% of mineral and hydrocarbon rights

Commenced dialogue with new government

New evaluation framework for projects containing uranium

Change of government Terms of Reference for SIA and EIA

Approved

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UR

AN

IUM

LIC

EN

SE

Project Geography

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Overview of the Narsaq Peninsula, South Greenland Ideal project location, easily accessed

Northern Ilimaussaq Complex – Resources

619 Mt JORC resource defined at Kvanefjeld (6.6 Mt TREO, 350 Mlb’s U3O8’ 3 Blbs Zn),

Initial Zone 2 target - >200 Mt, Zone 3 - > 50 Mt – resource estimates – late Q1 2012

7km

8km

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JORC-Code Compliant Resources*

619 Mt global resource, 71% Indicated Category

Metal inventory: 6.6 Mt TREO @ 1.1%, 3 Blbs Zn, 350 Mlbs U3O8

Orebody outcrops, low waste-ore ratio (<1)

High grade lenses near surface (1.4% TREO, 400 ppm U3O8)

Heavy rare earth content 370 – 520 ppm, yttrium oxide ~ 1000 ppm

*Mineral resource estimate produced by SRK Consulting, Perth, March 2011

Kvanefjeld Plateau – Mineral Resources

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185m @ 440 ppm U3O8, 1.2% TREO131m @ 447 ppm U3O8, 1.3% TREO 66m @ 474 ppm U3O8, 1.6% TREO 60m @ 486 ppm U3O8, 1.2% TREO

Zone 2 – A Major New REE-Uranium Deposit (initial resource – Q1 2012)

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Equivalent valuation of the project resource

USD 2 Billion to USD 5 Billion

Olympic Dam’s resources are 5,404 Mlbs

Recent M&A activity with uranium mining companiesUranium endowment valued in range of USD 4.2/lb to USD 8.5/lb

STRATEGIC SIGNIFICANCE OF URANIUM RESOURCE

Kvanefjeld Thor Lake Mountain Pass

Mt Weld Strange Lake

Nolans Bore Dong Pao Dubbo Zirconia

Bear Lodge Hoidas Lake0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

Comparison of Rare Earth ResourcesSources: IMCOA, Company Websites @ Q1 2011

Resources that are considered as compliant with international reporting codes, April 2011

Con

tain

ed R

EO

, (M

illio

n To

nnes

)

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Market AnalysisCritical Rare Earths – As Defined By US Dept of Energy, 2010

First new supply will be LREEs

Kvanefjeld - A cornerstone of future ‘Critical Rare Earth’ supply

Projected supply of ‘critical rare earths*’ from emerging ex-China projects*Critical rare earths (as identified by the US DOE as being critical to energy efficient technologies , and in short supply for the longer term)Source: Technology Metals Research – Critical Rare Earths Report, 2011

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Value Distribution& Market Risk

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Feasibility Program and Process Development

Major technical advances through 2011

Beneficiation method established and successfully piloted

Opened multiple process options, highest upgrade ratio in industry

Metallurgical leaching studies complete

Conventional atmospheric leach extracts 90-95% of uranium and heavy REEs

Single leach circuit to extract uranium and REE’s – synergy advantage

Confirms fundamental mineralogical advantage of Kvanefjeld

Unique does not mean complex, now demonstrated to be advantageous

Flotation Pilot PlantPhase 1. Sequential Flotation of Zinc, Phosphate-group REE-U minerals (steenstrupine, vitusite)

Concentrate 1. Saleable sphalerite (Zn) concentrate, Concentrate 2. Phosphate minerals >85%TREO, 70% U into <15% of the mass (concentrate >15% TREO)

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Flow sheet risk analysis recently completed – 6 options evaluated

• Finalising prefeasibility program, enhanced flowsheet parameters Q2, 2012

• Established an efficient flowsheet, low-technical risk, highly scalable

• No longer require high pressure whole-of-ore alkaline leaching for uranium extraction, followed by acid leach circuit for REE extraction

• Single conventional leach circuit preferentially targets key economic components

• Smaller scale leach circuit required owing to up-front beneficiation

• Designed to mitigate market risk through focus on heavy REEs and uranium, which results in strong pricing power for light REEs

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Establishing a simple, effective flowsheet with low technical risk;

Many peer projects require complex and costly ‘mineral cracking’ – Kvanefjeld does not

2009 2010 2011 2012 20142013 2015

Pilot Plant

Pre-Feasibility Studies

Resource Definition

Environmental Impact Assessment

Construction

Feasibility Study

Social Impact Assessment

Application for Exploitation License

Government endorsement of commencement of Studies inclusive of

radioactive elementsMine commissioningFirst production Q1

2016

LOOKING FORWARD

Front End Engineering Design

Exploitation Licence Approved

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Since 2007 significant milestones have been met on schedule

Project fundamentally de-risked – technically, politically, corporately

Kvanefjeld is a unique project:

Top-ten global uranium producer, one of worlds largest exploitable resources

Dominant heavy REE producer, price maker in LREEs owing to price insensitivity

Highly accessible project location, optimal geography, airport, shipping access, potential for hydropower, low political risk & pro-mining government

Unique minerals demonstrated to be highly amenable to beneficiation and conventional leaching; strong advantage over many projects that look to process highly refractory ores

Greenland Minerals now well-positioned to look to strategic partnerships

Extensive interest from Asian, European and North American corporations

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Status Summary

Looking Forward

Q1 2012 - Closing out comprehensive pre-feasibility program

Established optimal process flowsheet, uranium & heavy REE focus

Low-technical risk, improved capital and operating costs

Major increase to global resource with initial Zone 2 and 3 resource estimates

Looking to formalise strategic partnership

Kvanefjeld is a highly strategic project – cost effective, long life supply of critical metals – uranium and ‘critical rare earths’ – highly attractive proposition to major industrials/utilities

Facilitate definitive feasibility program and project development

Aim is to align with major industrials and end users to ‘join the dots’

Minimise dilution to capital structure, maximise shareholder value

Establish new incorporated joint venture structure, further de-risk project

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Consistent stakeholder engagement since commencing operations = strong stakeholder support

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Advancing one of the worlds most strategically important projects

Kvanefjeld is a unique project; potential global top 10 U3O8 producer, dominant heavy REE producer; low-cost, low risk light REE producer

World class JORC-compliant multi-element resource with enormous upside

Clear potential for Kvanefjeld to become the world’s new large-scale, long term supplier of critical REEs (potential to supply ~ 20% of future ‘critical REE’ demand)

Multi-commodity approach – low risk approach to rare earth production

Project built on years of high quality technical studies

Flagship project of Greenland’s emerging minerals industry, strong stakeholder support

Strong interest from potential strategic partners – facilitate development and drive value growth

SUMMARY

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View over the broader geography of the Kvanefjeld multi-element project. The distance from Narsaq to Narsarsuaq airport is approximately 45km. Lake systems have been extensively studied for the development of hydro-electric power. The fjords remain ice free, year round and provide ideal access for shipping directly to and from the project area. A number of sites are now being evaluated for the location of the processing plant and associated infrastructure.

Project Ownership Structure

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Recent agreement reached for GMEL to acquire balance of project for $39 M, 7.825 M shares. 5M options (ex $1.50)

Multi-Element Resources, Classification, Tonnage and Grade Contained MetalCut-off Classification M tonnes TREO2 U3O8 LREO HREO REO Y2O3 Zn TREO HREO Y2O3 U3O8 Zn

(U3O8 ppm)1 Mt ppm ppm ppm ppm ppm ppm ppm Mt Mt Mt M lbs Mt

150 Indicated 437 10929 274 9626 402 10029 900 2212 4.77 0.18 0.39 263 0.97150 Inferred 182 9763 216 8630 356 8986 776 2134 1.78 0.06 0.14 86 0.39150 Grand Total 619 10585 257 9333 389 9721 864 2189 6.55 0.24 0.53 350 1.36





1There is greater coverage of assays for uranium than other elements owing to historic spectral assays. U3O8 has therefore been used to define the cutoff grades to maximise the confidence in the resource calculations.

2Total Rare Earth Oxide (TREO) refers to the rare earth elements in the lanthanide series plus yttrium.

Note: Figures quoted may not sum due to rounding.

Kvanefjeld Multi-Element Project, Statement of Identified Mineral Resources, March 2011

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Business

World class production centre in Greenland