info@gwmg.ca www.gwmg.ca

1. Technology Metals Summit April 22, 2013 Marc LeVier President and CEO TSX.V: GWG OTCQX: GWMGF info@gwmg.ca www.gwmg.ca

2. Cautionary Statement on Forward Looking Statements(3) 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. See Supplemental Section for footnotes and references COVER PHOTO: Rare earth alloy manufacturing at Less Common Metals in U.K. 2

3. 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 3

4. Fully Integrated Model Creates a sustainable competitive advantage Exploration • Drilling results SKK Mining • Run of mine Upstream Processes SKK Mixed Chloride Production • Monazite concentrate and mixed rare earth chloride Solvent Extraction Separation • Individual rare earth oxides LCM Metal Making • High purity rare earth metals Downstream Processes LCM Alloy Production • Magnet alloys, super-alloys & other end-user metal alloys Industry Product Manufacturing • Industrial, Consumer & Military End Products 4

5. Steenkampskraal Project • 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 5

6. PEA Highlights(2)(5)(6) • $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) All amounts are in $Cdn (16) See Supplemental Section for footnotes and references 6

7. 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 • 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 REClproduction See Supplemental Section for footnotes and references 7

8. Strong Comparatives Capital Expenditure (16) ($ in US millions) Average Grade (%TREO) GWMG (1,11) (Indicated) Ucore(8) (Inferred) Frontier(9) (Indicated) GWMG (1) Ucore(8) Frontier(9) Avalon(14) Avalon(10) (Measured+ Indicated) Molycorp(15) Molycorp(13) (Proven+Probable) Internal Rate of Return Ucore(8)Pre-Tax (12) Avalon(14) GWMG (1) Frontier(9) See Supplemental Section for footnotes and references 8

9. Alloy Production • 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 • 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 9

10. Highlights • 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 10

11. Technology Metals Summit April 22, 2013 TSX.V: GWG OTCQX: GWMGF info@gwmg.ca www.gwmg.ca

12. SUPPLEMENTAL SLIDES 12

13. GWMG Overview Market Data as of April 18, 2013; Shares Outstanding as of January 26, 2013 Cash as of December 31, 2012, net of $7.2 Million held in escrow for bond interest payments 13

14. GWMG Board of Directors • George IrelandB.Sc., Resource Economics and Geology • Independent 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 • Robert Quinn BSBA, JD • Non-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 • Ron Hochstein M.B.A, B.Sc., Mineral Process Engineering • Lead Director, Independent Director • President, CEO and Director of Denison Mines Corp. • President of Uranium Participation Corporation • 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 • Rupert AllanP. Geol. • Independent Director • 43 years of global technical and management experience with mining and exploration companies • President and CEO of Skeena Resources Limited • 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 • Lenard Boggio B.A., B.Comm., FCA, CPA (Illinois), ICD.D • Independent 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 • Ian McNaughton FICB • Independent Director • 35 years experience with TD Bank, Vice President and Manager Commercial Banking until 2004 • Board level advisor to private companies 14

15. GWMG Management Team GWMG Head Office Michael Der B.Comm., LL.B. GENERAL COUNSEL, V.P. CORPORATE & LEGAL AFFAIRS Marc LeVier B.Sc., M.Sc., Metallurgical Engineering PRESIDENT & CEO Vernon J. Kiss B.A., LL.B. SENIOR V.P. BUSINESS & CORPORATE DEVELOPMENT Jim Davidson B. Comm., C.A. V.P. FINANCE, CHIEF FINANCIAL OFFICER Rareco LCM • Pieter de Jager • MBA, C.T.A., AccountingFINANCE MANAGER Vic Fitzmaurice P. Eng. B.Sc., Engineering, Graduate Diploma Engineering STEENKAMPSKRAAL PROJECT DIRECTOR Brent Jellicoe B.Sc., P. Geo. DIRECTOR, INTERNATIONAL EXPLORATION • Chris Neser • B.Sc. Eng., MBL • SENIOR PROJECT MANAGER Dr. Ian Higgins Ph. D., MIMMM MANAGING DIRECTOR, METALS & ALLOYS Dave Murphy B.Sc., Chemistry, Dipl., Management Studies V.P. INTERNATIONAL MARKETING & SALES 15

16. Footnotes and References (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). 16

17. Footnotes and References (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 17