Project Update

GWMG continues to make steady, methodical progress
on its Steenkampskraal mine plans.

Over the past year plus, the following significant project updates were announced (full news release list and details):

2012:

April 10: Initial assay results announced, noting that the preliminary results exceeded the historical data upon which GWMG management had made the decision to proceed with the Steenkampskraal project.
May 31: NI 43-101 technical report and resource estimate indicated the presence of 13,823.64 metric tonnes of TREO including Yttrium under the Indicated resource category and 14,147.76 metric tonnes under the Inferred resource category each using a one per cent cutoff grade.
June 7: Additional assay results were released that included assays varying from 0.41 to 45.15 weight percent TREO +Yttrium with an average of 19.3 wt.% TREO+Y2O3 from channel and core samples from the Main Mineralization Zone.
July 26: Launched Preliminary Economic Assessment for the Steenkampskraal operation and the fully integrated business model.
August 15: GWMG granted exploration rights for an area comprising 547 square kilometers located outside the existing mine site.
September 18: Assays varying from 0.02 to 45.81 weight percent ("wt.%") Total Rare Earth Oxides ("TREO") with an average of 17.74 wt.% TREO.
October 9: Vic Fitzmaurice appointed Operations General Manager and Andreas Muntingh appointed as Mine Geologist.
October 31: Significant steps in surface and underground refurbishment program reported.

2013:

January 9: New GWMG CEO with significant experience in mine project development appointed.
January 21: Updated Resource Estimate shows 114% increase in Indicated Resource and 218% increase in Inferred Resource as compared to Resource Estimate of May 31, 2012.
January 28: Steenkampskraal drill program expanded with five drill units operating at site.

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