20130422 gwmg tms2013 presentation final1 1035

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GWMG © 2013 [email protected] www.gwmg.ca Technology Metals Summit April 22, 2013 TSX.V: GWG OTCQX: GWMGF Marc LeVier President and CEO

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GWMG © 2013

[email protected] www.gwmg.ca

Technology Metals Summit

April 22, 2013

TSX.V: GWG OTCQX: GWMGF

Marc LeVierPresident and CEO

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GWMG © 2013

Certain information set out in this presentation constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as “expect”, “may”, “could”, “anticipate” or “will” and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, the assumptions and estimates in the preliminary economic assessment of the Steenkampskraal project proving to be accurate over time; the construction, commissioning and operation of the proposed monazite processing facility and separation facility within estimated parameters; mine refurbishment activities; reliance on third parties to meet projected timelines and commencement of production at Steenkampskraal; risks related to the receipt of all required approvals including those relating to the commencement of production at the Steenkampskraal mine, delays in obtaining permits, licenses and operating authorities in South Africa and China, environmental matters, water and land use risks; risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, including those estimated in the preliminary economic assessment of the Steenkampskraal project; risks associated with the uncertainty of resource estimates; health and safety risks; uncertainty of estimates and projections of production, costs and expenses; risks that future Steenkampskraal and region exploration results may not meet exploration or corporate objectives; the adequacy of the Company’s financial resources and the availability of additional cash from operations or from financing on reasonable terms or at all; political risks inherent in South Africa and China; risks associated with the relationship between GWMG and/or its subsidiaries and communities and governments in South Africa, radioactivity and related issues, dependence on one mineral project; loss of, and the inability to attract, key personnel; the factors discussed in the Company’s public disclosure record; and other factors that could cause actions, events or results not to be as anticipated. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this presentation or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. Except as required by law, GWMG does not assume any obligation to update forward looking statements as set out in this presentation. The forward-looking statements of GWMG contained in this Presentation, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG’s Annual Information Form available at www.sedar.com.

Cautionary Note For US Investors Concerning Estimates of Indicated and Inferred Resources This presentation uses the terms “Indicated” and “Inferred” resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred” mineral resources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred mineral resources may not form the basis of feasibility or other economic studies except in limited circumstances and with specific notification to the reader. United States investors are cautioned not to assume that all or any part of any mineral resources will ever be converted into mineral Reserves (as defined under NI 43-101). United States investors are also cautioned not to assume that all or any part of an Inferred mineral resource exists, or is economically or legally mineable.

Cautionary Statement on Forward Looking Statements(3)

2COVER PHOTO: Rare earth alloy manufacturing at Less Common Metals in U.K.

See Supplemental Section for footnotes and references

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GWMG © 2013

Great Western Minerals Group

GWMG’s mission is to become a best-in-class developer and sustainable

producer of critical rare earths through its fully-integrated business model

Fully-integrated

From planned rare earth production to alloy manufacturing

Ownership of the value chain

Steenkampskraal (“SKK”) Project

Positive Preliminary Economic Assessment (“PEA”) released in March 2013

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GWMG © 20134

Fully Integrated Model

Exploration

SKK Mining

SKK Mixed Chloride Production

LCM Alloy Production

Solvent Extraction Separation

Industry Product Manufacturing

LCM Metal Making

• Run of mine

• Monazite concentrate and mixed rare earth chloride

• Individual rare earth oxides

• Industrial, Consumer & Military End Products

• High purity rare earth metals

Upstream Processes

Downstream

Processes

• Magnet alloys, super-alloys & other end-user metal alloys

• Drilling results

Creates a sustainable competitive advantage

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GWMG © 20135

Former operating thorium mine

Excellent infrastructure

Access to rail, road and seaport

474 hectare property permitted to current operational requirements

Average grade of 18.2% TREO based on indicated resource estimate

Substantially extended zone of mineralization through several successive exploration programs

Regional exploration approved, prospecting and sampling initiated

Drill program at SKK site intended to increase resource and confidence levels

Nuclear License provides GWMG ability to apply for specific approvals for processing and storage of materials

Steenkampskraal Project

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GWMG © 2013

PEA Highlights (2)(5)(6)

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All amounts are in $Cdn (16)

See Supplemental Section for footnotes and references

$555 Million after-tax net present value applying a 10% discount rate and a 28% tax rate (1)

66% after-tax internal rate of return (“IRR”) (1)

2.5 year estimated project payback period, on an after-tax basis, from start of underground mining production (1)

11 year potential life of mine (1)

RESOURCE CALCULATION (4)

Resource Estimate(4) Tonnes

Average Grade TREO%

Contained TREO

tonnes

LREO(7) tonnes

HREO(7) tonnes

Indicated 176,000 18.2 32,100 29,600 2,500

Inferred 278,000 15.2 42,100 38,700 3,400

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GWMG © 20137

See Supplemental Section for footnotes and references

PEA Timeline (2)

Additional resource estimate and block model planned for late Q3 or early Q4 2013

Production of mixed RECl (concentration and hydrometallurgical stages) is projected to commence within 24 months of the completion of required Project financing, at a design capacity of 5,000 tonnes per year of contained REOs

Production of separated REOs is projected to begin within 12 months after the commencement of RECl production

SKK Milestones and Timeline (2)

Near Term Milestones

Updates on engineering of SKK project and REE separation plant

SKK mine and process plant project

Potential off-take arrangements and tolling agreements

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GWMG © 2013

66%

43%

54%

20%

18.20%

0.65%2.28%

7.98%

1.57%

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Strong ComparativesAverage Grade

(%TREO)

GWMG (1,11)

(Indicated)

Ucore (8)

(Inferred)

Frontier (9)

(Indicated)

Avalon (10)

(Measured+

Indicated)

GWMG (1) Ucore (8) Frontier (9) Avalon (14)

Internal Rate of Return

$171 $221

$1,079

$1,420$1,530

Capital Expenditure (16)

($ in US millions)

GWMG (1) Ucore (8)

Pre-Tax (12)

Frontier (9) Avalon(14)

See Supplemental Section for footnotes and references

Molycorp(15)Molycorp(13)

(Proven+Probable)

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GWMG © 2013

Less Common Metals Limited

Provides unique access to global permanent magnet industry

Has provided 21 years of high quality rare earth alloy production

Operates co-reduction and specialized casting techniques

European and Japanese customers strongly in support of LCM expansion

Now in commercial production with strip casting furnace serving existing customers; second strip casting furnace delivered in Q1 2013, as scheduled, and will be on line in late Q2 to early Q3 2013

Metal-making will take place at LCM

9

Great Western Technologies Inc.

Versatile production capacity including:

• Permanent magnet alloys

• NiMH alloy for rechargeable batteries

• “Super Alloy” production for aerospace materials

• Hydriding capability for solid-state hydrogen-storage alloys, both rare earth and transition metal types

Alloy Production

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GWMG © 201310

Becoming a fully-integrated rare earth company

SKK resource has more than doubled in past year; Company advancing mine to production

LCM is a leader in manufacture and supply of rare

earth-based alloys and high purity metals; recently moved to new facility with state-of-the-art equipment

Management team with strong industry knowledge in mine development, metal processing and production, and extensive technical and metallurgical expertise; realigned to focus on SKK project

Highlights

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GWMG © 2013

[email protected] www.gwmg.ca

Technology Metals Summit

April 22, 2013

TSX.V: GWG OTCQX: GWMGF

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GWMG © 2013

SUPPLEMENTAL SLIDES

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GWMG © 2013

GWMG OverviewShares Outstanding / Fully Diluted 418.7 mm / 467.2

mm

Share Price $0.15

52 week High / Low $0.48 / $0.14

Market Cap $62.8 million

Cash on hand $51.2 million

Insider Holdings / Fully Diluted (est.) 8.4% / 12.0%

Institutional Holdings (est.) 40%

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Market Data as of April 18, 2013; Shares Outstanding as of January 26, 2013Cash as of December 31, 2012, net of $7.2 Million held in escrow for bond interest payments

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GWMG © 2013

GWMG Board of Directors

David Kennedy P.Eng., MIMMM• Founded Less Common Metals in 1992• 33 years experience in rare earth

materials sector• Previously Technical Manager at

Johnson Matthey Rare Earth Products

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Marc LeVier B.Sc., M.Sc., Metallurgical Engineering• Former CEO of Texas Rare Earth

Resources Corp. • 20 years with Newmont Mining

Corporation in senior metallurgical and management positions

Ian McNaughton FICBIndependent Director• 35 years experience with TD Bank,

Vice President and Manager Commercial Banking until 2004

• Board level advisor to private companies

George Ireland B.Sc., Resource Economics and GeologyIndependent Director• C.I.O. and Managing Member of

Geologic Resource Partners LLC• 30 years in the resource sector in field

geology, banking and corporate finance

Lenard Boggio B.A., B.Comm., FCA, CPA (Illinois), ICD.DIndependent Director• Partner at PricewaterhouseCoopers for 24

years• Advisor to publicly listed Canadian, U.S. and

U.K. mineral resource and energy clients in the Americas, Africa, Europe and Asia

Robert Quinn BSBA, JDNon-Executive Board Chair• 25 years of legal and management

experience in the mining sector• Extensive experience in M&A, corporate

governance, public disclosure, government affairs, environmental and land management

Rupert Allan P. Geol.Independent Director• 43 years of global technical and

management experience with mining and exploration companies

• President and CEO of Skeena Resources Limited

Ron Hochstein M.B.A, B.Sc., Mineral Process EngineeringLead Director, Independent Director• President, CEO and Director of

Denison Mines Corp.• President of Uranium

Participation Corporation

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GWMG © 2013

GWMG Management TeamGWMG Head Office

Dr. Ian Higgins Ph. D., MIMMMMANAGING DIRECTOR, METALS & ALLOYS

Marc LeVierB.Sc., M.Sc., Metallurgical EngineeringPRESIDENT & CEO

Vic FitzmauriceP. Eng. B.Sc., Engineering, Graduate Diploma EngineeringSTEENKAMPSKRAAL PROJECT DIRECTOR

Rareco

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Michael DerB.Comm., LL.B.GENERAL COUNSEL,V.P. CORPORATE & LEGAL AFFAIRS

Vernon J. KissB.A., LL.B.SENIOR V.P. BUSINESS & CORPORATEDEVELOPMENT

Brent JellicoeB.Sc., P. Geo.DIRECTOR,INTERNATIONALEXPLORATION

LCM

Dave MurphyB.Sc., Chemistry, Dipl., Management StudiesV.P. INTERNATIONAL MARKETING & SALES

Jim Davidson B. Comm., C.A. V.P. FINANCE, CHIEF FINANCIAL OFFICER

Chris NeserB.Sc. Eng., MBLSENIOR PROJECT MANAGER

Pieter de JagerMBA, C.T.A., AccountingFINANCE MANAGER

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GWMG © 2013

Footnotes and References

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(1) See GWMG Media Release March 18, 2013

(2) All references to PEA Highlights: See GWMG news release March 18, 2013

(3) Brent C. Jellicoe, B.Sc. (Hon.), P.Geo., Director of International Exploration for GWMG, is the Qualified Person (as defined in NI 43-101) responsible for supervising the preparation of the technical content of this presentation.

(4) For a complete description of the mineral resource estimate and technical report (the “Resource Estimate”), please refer to the Resource Estimate, as filed on SEDAR on March 7, 2013, at www.sedar.com

(5) The PEA is preliminary in nature and includes Inferred mineral resources (as defined in NI 43-101) that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves (as defined in NI 43-101), and there is no certainty that the preliminary economic assessment will be realized.

(6) For the Resource Estimate, “tonnes” and “grades” were rounded to 3 significant figures. Apparent errors in the totals may occur due to rounding.

(7) “LREO” means lanthanum (La2O3), cerium (CeO2), praseodymium (Pr6O11), neodymium (Nd2O3) and samarium (Sm2O3). “HREO” means europium (Eu2O3), gadolinium (Gd2O3), terbium (Tb4O7), dysprosium (Dy2O3), holmium (Ho2O3), thulium (Tm2O3), ytterbium (Yb2O3) lutetium (Lu2O3) and yttrium (Y2O3). “TREO” includes yttrium.

(8) Preliminary Economic Assessment on the Bokan Mountain Rare Earth Element Project, Near Ketchikan, Alaska. 10 Jan 2013 (Tetra Tech).

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GWMG © 2013

Footnotes and References

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(9) Amended Independent Technical Report on the Results of a Preliminary Economic Assessment of Frontier Rare Earths Limited's Zandkopsdrift Rare Earths Project, Located in the Northern Cape Province of South Africa. 30 Mar 2012 (Venmyn).

(10) See Avalon Rare Metals Inc. News Release Nov 26 2012: Avalon Reports Increased Measured Resources for the Nechalacho Rare Earth Elements Deposit, Thor Lake, NWT, Canada.

(11) GWMG: Average indicated TREO% weighted by tonnage.

(12) Pre-tax IRR reported in Ucore's PEA. All other company IRRs are reported Post-tax.

(13) NI 43-101 Technical Report, Mountain Pass Rare Earth Project, San Bernardino County, California. 07 May 2012 (SRK Consulting (U.S.), Inc.).

(14) See Avalon Rare Metals, Inc. News Release 17 April 2013: Avalon Announces Results of Positive Feasibility Study for the Nechalacho Rare Earth Elements Project.

(15) See Molycorp Form 8-K 23 January 2013 (US Securities and Exchange Commission).

(16) 1.00 $CAN = 0.9712 $US