Overview

Greenland Minerals and Energy Ltd (OTCQX:GDLNF,ASX:GGG) is a mineral exploration and development company focused on identifying and developing large, high-quality mineral deposits in Greenland. The Company’s flagship project is Kvanefjeld; a giant multi-element deposit that contains the world’s largest rare earth resource along with substantial uranium and zinc resources.  Initial prefeasibility studies found that Kvanefjeld could be developed to become one of the largest, most cost-effective and long-term producers of rare earth elements. The project could potentially supply >20% of global rare earth element (REE) demand at low cost owing to by-production revenues from uranium and zinc. The Company is now focused on advancing Kvanefjeld through the definitive feasibility phase scheduled to commence in the second half of 2011.

Chief Project

Kvanefjeld Project, Southwest Greenland

Kvanefjeld is a tier 1 mineral deposit hosted within the northern Ilimaussaq Intrusive Complex, favorably located near the southwest tip of Greenland. Yet Kvanefjeld is just the first of several deposits to be extensively drilled within the project area, and already hosts the world’s largest REE resource as defined by internationally recognized reporting codes (JORC, NI 43-101). Kvanefjeld is highly accessible, outcropping on a broad plateau, and features a favorable mix of economic minerals amenable to processing. The project area is surrounded by deepwater fjords that form a large natural harbor system, it is located approximately 40 km from the Narsarsuaq International Airport, and has access to water resources suitable for hydroelectric power plants. The Company is permitted by the Greenland Government to conduct full evaluations and feasibility studies on Kvanefjeld to establish the most appropriate development scenario.

The northern Ilimaussaq Complex is characterized by broadly sub-horizontal layers. An unusual form of nepheline syenite called lujavrite forms an internal layer that locally outcrops, and is the host to REE-uranium-zinc mineralization. The most extensive area of outcropping lujavrite occurs at Kvanefjeld, which has been the focal point of prior resource definition drilling. However, there are other areas of outcropping lujavrite, and a growing list of evidence to suggest that these outcropping zones are part of a large interconnected body of lujavrite.

Greenland Minerals released its latest resource estimate for Kvanefjeld in March 2011. This is the fourth resource estimate that the Company has produced since acquiring the project in 2007. The resource estimate was prepared by SRK Consulting and is compliant with the Australian JORC code. Greenland Minerals has also developed a method to domain resources by geochemical and mineralogical characteristics, such that the resource is closely aligned to metallurgical process development. The latest resource estimate confirmed Kvanefjeld’s status as one of the world’s largest REE-U resources, and improved key aspects including overall resources (619 Mt), indicated resources (437 Mt), the definition of near-surface higher grade zones, and overall contained metal. The metal inventory currently includes 6.6 Mt TREO (total rare earth oxide), 0.24 Mt of heavy REO’s, and 0.5 Mt of yttrium oxide, 350 Mlbs U₃O₈ and 3 Blb’s of zinc

In early 2011, Greenland Minerals announced the first intercepts from three new deposits within the project area. These new deposits will become the focal point for future resource definition. Significant multi-element intercepts were identified at each new zone, confirming that mineralization extends for kilometers beyond Kvanefjeld. These discoveries served to confirm that the Northern Ilimaussaq Complex is host to one of the most expansive ore systems of its kind globally.

Greenland Minerals and Energy maintains an active stakeholder engagement process in Greenland. The Company’s operations are strongly backed by key stakeholder groups in Greenland including the south Greenland council, and Greenland’s labour and employers unions. Kvanefjeld is recognized in political forums globally as one of the world’s most important future supply hubs for rare earth elements.

Management

Mr. Michael Hutchinson – BSc Chairman

Mr. Hutchinson has had a distinguished career, having served as Director of the London Metal Exchange, the world’s largest market in options and futures contracts on base and other metals. Mr. Hutchinson brings a wealth of experience to the board, and his visibility in global financial markets will benefit the Company immensely as it advances its projects in Greenland. Mr. Hutchinson also served as Chairman of RBS Sempra Metals Limited, and Wogen PLC; a trader of off-exchange metals that sources metals worldwide for industrial end users. In addition, Mr. Hutchinson previously served as a director of MG PLC.

Mr. Roderick McIllree, B.Sc. (Geology), Grad Dip. (Mineral Economics) MAusIMM – Managing Director

Mr. McIllree graduated from Curtin University of Technology in 1996 with a Bachelor of Science degree (Mineral Exploration and Mining Geology) and commenced a career in the mining industry where he worked for major mining companies both domestically and internationally, gaining experience in all facets of mining.  Mr. McIllree moved to the finance sector in 2000 and worked as an analyst and advisor for broking houses active in capital markets. He has experience in international capital raisings having initiated several successful mining companies with assets both domestically and overseas. Mr. McIllree was instrumental in sourcing the Kvanefjeld project for the company. Mr. McIllree is also an executive director of Convergent Minerals Limited.

Mr. Simon Cato, B.A., MSDIA – Executive Director

Mr. Simon Cato has had over 20 years capital markets experience in both broking and regulatory roles.  He has been employed by the ASX in Sydney and in Perth in the Company’s department that oversees the activities of listed companies.  Over the last 12 years he has been an executive director of two stock broking firms and in those roles he has been involved in many aspects of broking including management issues such as credit control and reporting to regulatory bodies in the securities industry.  As a broker he has also been involved in the underwriting of a number of initial public offers and has been through the process of an initial public offer listing in a dual role of broker and director. Mr. Cato is also a director of Transactions Solutions International Limited, Advanced Share Registry Limited, Queste Communications Limited, and Convergent Minerals Limited.

Mr. Jeremy Whybrow,B.Sc. (Mineral Exploration and Mining Geology), G.Dip (Mineral Economics), MAusIMM – Exploration Director

Mr. Whybrow has had over 12 year’s experience in the mining industry both domestically and internationally. Mr. Whybrow has worked for companies such as Sons of Gwalia Ltd, PacMin Ltd, Teck Australia Ltd, Mount Edon Gold Mines Ltd, and Croesus Mining NL.  His experience has been mainly in the operational environment and includes significant exposure to exploration and mining operations, project evaluation and feasibility studies.
Previously, Mr. Whybrow has worked internationally in China, Africa and the Philippines as well as numerous localities in Australia. Mr. Whybrow is also an executive director of Convergent Minerals Limited.

Mr. Tony Ho, B. Com, CA, FAICD, FCIS -
Non-Executive Director

Mr. Ho is an experienced company director having held executive directors and chief financial officer roles with a number of publicly listed companies.  Tony was executive director of Arthur Yates & Co Limited, retiring from that position in April 2002.  His corporate and governance experience include being chief financial officer/finance director of M.S. McLeod Holdings Limited, Galore Group Limited, the Edward H O’Brien group of companies and Volante Group Limited. Mr. Ho is currently a non-executive director of Dolomatrix International Limited where he chairs the Audit and Compliance Committee.  He is also the non-executive chairman of St George Community Housing Limited, the largest community housing company in New South Wales.

Mr. Ho was a past non-executive director of Brazin Limited (September 1997 to January 2007) where he was also a member of the Audit and Remuneration Committees.
Prior to joining commerce, Mr. Ho was  a partner of Cox Johnston & Co, Chartered Accountants, which has since merged with Ernst & Young. Mr. Ho holds a Bachelor of Commerce degree from the University of New South Wales and is a member of the Institute of Chartered Accountants in Australia and a fellow of both the Chartered Institute of Company Secretaries and the Institute of Company Directors.