Low Sovereign Risk Jurisdictions

Advanced Projects

Core Commodities

HANNANS

Capital Structure (November 2012)

Pahtohavare
Summary

The JORC Exploration Targets have been subjected to diamond drill testing, ground geophysics and interpretation by the Geological Survey of Sweden, reviewed by Mr Thomas Lindholm, of GeoVista AB. The potential quantity and grade of the exploration targets is conceptual in nature, there has been insufficient interpretation to define a JORC Mineral Resource and it is uncertain if further interpretation will result in the determination of a JORC Mineral Resource.

Damian Hicks

Jonathan Murray

Markus Bachmann

Olof Forslund

Country Sweden Norway Australia Commodity Type Iron Ore Precious & Base Metals Precious Metals Base Metals Other

Mining
Rakkuri

Development Advanced Exploration

Tjrrojkka Pahtohavare Forrestania Queen Victoria Rocks Srksjn Renhagen Korpilombolo Daningen Lake Johnston Harrejaure ggojaure Maunuvaara Vtmyrberget Straumsfjellet Kvfjord Salen

Discovery

Altavaara

Njivlojvri Fiskarfjellet Famnvatnet Vaddas

Early Stage Exploration

East Pilbara Gjeddevann Hrskoltan

Birtavarre Snefjord Nordkapp

Target Generation

Holmvasshgda Srdalshgda

JORC INDICATED RESOURCES

Prospect

Mt

Fe (%)

P (%)

S (%)

TOTAL JORC INFERRED RESOURCES Prospect

73.8 Mt

43.0 Fe (%)

P (%)

S (%)

TOTAL TOTAL Indicated & Inferred

399.9

38.1 Mt 473.7

Fe (%) 40.5

KIRUNA HUB

Prospect

Tonnage Range (Mt)

Grade Range (Fe%)

Total Hub 1 LANNAVAARA HUB Prospect

89-121 Tonnage Range (Mt)

31.8-38.8 Grade Range (Fe%)

Total Hub 2 TOTAL Hub 1 & 2

114-152 Mt 203-273

32-41 Fe (%) 32.1-39.6

% of iron from % of mass feed material Head Fe grade % magnetite in recovered from present in in feed feed material DTR conc. after DTR

DTR conc Fe grade

DTR conc SiO2 grade

DTR conc Al2O3 grade

DTR conc P grade

DTR conc S grade

Priority Project
County Commodity Target Generation Phase 1 Target Testing Phase 2 Advanced Exploration 3 JORC Resource

Priority Project
County Commodity Target Generation Phase 1 Target Testing Phase 2 Prospects Advanced Exploration 3 JORC Resource

Njivlojvri
Summary

Njivlojvri
Summary

Suovrravarri Suovrrajvri

Njivlojvri

Planned Exploration

Fiskarfjellet
Summary

Fiskarfjellet
Summary Fiskarvatnet

Kvartpttevatnet

Planned Exploration

Sweden & Norway

Australia