Tanbreez letter to the editor (excerpt)

| January 2, 2013 | 3:22 pm Europe

Tanbreez, has completed a feasibility study and submitted it to the Greenland Government and this should be approved of by the first half of 2013.
The company has NO uranium or thorium problems and as such presents no environmental problems for the government to refuse on that issue – as inferred in this article.
The company intends to use, and has publically stated, local labour; which the company believes it can do due to our research undertaken in Greenland on local labour.
Tanbreez is the largest REE deposit outside of China, with so far 19.6 million tons of contained REO, (and we expect to greatly exceed this figure in the future). Our figures are by JORC, accepted by the Greenland Government on their recent government sponsored tours in China and Korea – to which this group was a party.
Tanbreez contains about 30% heavy REE.
Tanbreez has completed feasibility, concentration, chemical separation etc.
Tanbreez is a private company, has spent approximately $40 million on the project and expects eventually, as the market develops, to produce 25,000-30,000 tons per year of REE.
As REO will be a bi-product Tanbreez may therefore be classified as one of the lowest cost producers.

Yours faithfully

GREG BARNES
PRINCIPAL
TANBREEZ MINING GREENLAND A/S