Objective Capital's Global Resources Investment Conference 2011 Stationers' Hall, City of London 27-28 September 2011 Day 1- Session 3: Strategic metals – the resources everybody wants Speaker: Gary Billingsley, Great Western Minerals Group

1. Rare earths: not so rare but sought after Gary Billingsley – Great Western Minerals Group

2. @Objectivelive GLOBAL RESOURCESINVESTMENT CONFERENCE 2011 Lead sponsor: Media partners: Other sponsors & participating organisations:

3. Rare Earths: Not So Rare, But Sought After… September 27-29, 2011 Objective Capital Global Resources Investment Conference London and Edinburgh, UK TSX.V: GWG OTCQX: GWMGF info@gwmg.ca www.gwmg.ca

5. 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.

6. 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.4

7. World Mine Production and Reserves(tonnes REO) Source: USGS Mineral Commodity Summaries, January 2011 5

8. Global RE Exploration 2011 Approximately 200 of 302 Global REE Exploration Projects Shown Below: Source: TMR, GWMG 6

9. Chinese Export Quota History (tonnes REO) 1. Adjusted to reflect 12 month allocation 2. Includes ferro-alloys of rare earths (RE > 10%) Sources: Chinese Ministry of Commerce, IMCOA 7

10. Forecast Demands for 2015 (tonnes REO) Source: IMCOA 8

11. Global 2015 Supply/Demand Imbalance Shortage, Surplus, Large surplus Source: IMCOA 9

12. 2015 Regional Imbalances Source: IMCOA Shortage, Surplus, Large surplus *not including Er, and Ho-Lu 10

14. GWMG Corporate Structure Canada 100% 100% 100% Various % 75% Rareco Great Western GQD Rare Earth Materials Co. Ltd.* LCM Exploration GWTI 74% JV Separation Plant, SA *details being finalized SKK (Steenkampskraal) Hoidas Lake Douglas River Red Wine, Canada Birkenhead, U.K Troy, Michigan USA Former-producing Steenkampskraal Mine, SA 12

16. Enterprise profitability increases with each stage of processingMINING EXPLORATION 13

18. LCM, a world class producer trading globally:

19. European Union 60%

20. Japan, China including Taiwan 30%

21. United States 10%

22. Focused on Permanent Magnet industry

23. Supplies 20% of the world’s Samarium Cobalt Alloy

24. Significant supplier of NdFeB alloys

25. Supplies US and EU Aerospace Industry with special alloys

26. 20 years of high quality, profitable production

27. LCM products end up in Swiss watches, EU Aerospace and Guidance Systems, electric hand tools, and Automobiles14

28. Global Expansion for LCM 100% capacity expansion driven by forecast demand from major customers in Europe and Japan seeking NdFeBalloy (note agreements with Aichi Steel Corp. & VAC) New state of the art facility now being developed to increase capacity to 2,000 tonnes per annum RE alloy production First special casting furnace ordered and scheduled to have saleable product by second half 2011-2nd furnace in 2012 First phase of metal-making to be located at LCM Processing capacity matches REE distribution of planned output from Steenkampskraal for La, Nd, Pr. Sm, Dy 15

30. LCM currently operates a co-reduction process for converting samarium oxide to samarium cobalt metal alloy and we will rebuild facilities to produce samarium metal.

31. LCM is developing a fused salt electrolysis process for oxides from South Africa to produce lanthanum, neodymium and praseodymium metal

32. LCM is developing a process to produce dysprosium, terbium and yttrium metal using calciothermicreduction of rare earth fluorides16

33. Samarium Cobalt by Co-Reduction 17

35. Strategic asset for revitalization of the Rare Earth industry in the United States

36. Working with DARPA on aerospace “Super Alloy” R+D

37. Versatile production capacity including:

38. Permanent magnet alloys

39. NiMH alloy for rechargeable batteries

40. “Super Alloy” production for aerospace materials

41. Hydriding capability for solid-state hydrogen-storage alloys, both rare earth and transition metal types18

43. Close proximity to rail and sea-port

44. Pro-development governments with strong interest in Rare Earth industry

45. 474 hectare property

46. Mining permit received June 2010; National Nuclear Regulator (“NNR”) approvals received May 201119 19

48. Significant supply of mined feedstock already at surface

49. Favourable Metallurgy: The technology for REE extraction from Monazite is well established allowing for more rapid approval of process and plant design

50. Minimum 10-year mine life

51. Nuclear License allows storage of radioactive material including thorium

52. Low capital cost

53. Planned exploration program has a high probability of increasing the known resources on and near the property20

54. Steenkampskraal Strategy Execution Feasibility/EPCM work well underway Discussions in progress for accessing additional monazite from 3rd parties that can be processed at Steenkampskraal Agreement reached with GanzhouQiandong Rare Earth Group Ltd. (“GQD”), an experienced separator and metal maker, to construct and operate a separation plant in South Africa under a joint venture Discussions in progress for offtake of material not required by LCM/GWTI Mill/Separation plant construction targeted to commence Q1 2012 with completion by Q4 2012 GWMG goal is first commercial SteenkampskraalREO production of in Q1 2013 21

55. MINING: Steenkampskraal SA 22

56. 2013: Projected Processing Outputs (metric tons REO) *Based on Rareco Historical Resource Estimate – not 43-101 compliant 23

58. 2009 NI 43-101 shows 2.5 million tonnes Measured & Indicated

59. Enriched in Nd

60. Significant progress on metallurgy; mini pilot plant test in progress

61. Being evaluated for 2015 production

62. Douglas River, Saskatchewan, Canada

64. 35%+ HREE + YHeavy Rare Earth/Permanent Magnet Focus 24

66. Continue to establish GWTI as an important part of the RE supply chain in the USA

68. Achieve commercial production in Q1 2013

70. Continue exploration of HREE-enriched projects

71. Increase resource at Steenkampskraal25

73. To create certainty of supply for existing and potential customers26

74. GWMG Overview 27