Greenland Minerals and Energy Ltd.

Published : April 01st, 2015

Outstanding 2% royalty purchase – 10 Mar 2013

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Outstanding 2% royalty purchase – 10 Mar 2013

Company Announcement - 10th March 2015

Acquisition of Outstanding Royalty Over Kvanefjeld Project

Exploration License


Greenland Minerals and Energy Limited (GMEL) is pleased to advise that it has agreed on terms to acquire a 2% net profit royalty on exploration license 2010/02, which covers the Kvanefjeld project and associated mineral resources in southern Greenland. Following the acquisition GMEL will hold all royalty agreements associated with license 2010/02. GMEL will acquire the 2% royalty on the net profits of Greenland Minerals and Energy (Trading) A/S (GME A/S) for a purchase consideration of 13,690,000 ordinary shares and 13,690,000 listed GGGOA options.
GME A/S is the Greenlandic subsidiary company that holds the exploration license 2010/02 over the northern Ilimaussaq Intrusive Complex in Greenland. GME A/S was established through the formation in 2007 of a joint venture between GMEL and Westrip Holdings Limited (Westrip). At the inception of the joint venture, a 5% net profit royalty existed on license area 2010/02. GMEL moved to 100% owner of GME A/S, and, therefore, exploration license 2010/02 in 2012.
The Company then purchased 3% of the net profit royalty in 2012 (announced 2nd December
2011), and is pleased have now acquired the outstanding 2% royalty. The consideration paid on the royalty is referenced to an independent expert report from BDO Corporate Advisory (included in the Notice of Meeting announced 16 December 2011). A total of 17,500,000 shares were issued as consideration for the purchase of the 3% royalty with the independent expert report determining this to be fair and reasonable based on a share price at the time of $0.57.
GMEL viewed the terms outlined herein for the acquisition of the outstanding 2% royalty as reasonable in consideration of both the terms for the previously acquired 3% royalty, and the current market conditions. Therefore the company has not looked to have a further independent expert opinion prepared. BDO Corporate Advisory have not prepared a report or provided an opinion regarding the acquisition of the 2% royalty.

ABOUT GREENLAND MINERALS AND ENERGY LTD.

Greenland Minerals and Energy Ltd (ASX: GGG) is an exploration and development company focused on developing high-quality mineral projects in Greenland. The Company's flagship project is the Kvanefjeld multi-element deposit (Rare Earth Elements, Uranium, Zinc), that stands to be the world's premier specialty metals project. A comprehensive pre-feasibility study was finalised in 2012, and the feasibility study will be completed in 2015. The studies demonstrate the potential for a large- scale, cost-competitive, multi-element mining operation. Through 2015, GMEL is focussed on completing a mining license application in order to commence project permitting, in parallel to advancing commercial discussions with development partners. For further information on Greenland

Minerals and Energy visit http://www.ggg.gl or contact:

Dr John Mair

David Tasker

Christian Olesen

Managing Director

Professional PR

Rostra Communication

+61 8 9382 2322

+61 8 9388 0944

+45 3336 0429

Greenland Minerals and Energy Ltd will continue to advance the Kvanefjeld project in a manner that is in accord with both Greenlandic Government and local community expectations, and looks forward to being part of continued stakeholder discussions on the social and economic benefits associated with the development of the Kvanefjeld Project.

Competent Person Statement

The information in this report that relates to Mineral Resources is based on information compiled by Robin Simpson, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Simpson is employed by SRK Consulting (UK) Ltd ("SRK"), and was engaged by Greenland Minerals and Energy Ltd on the basis of SRK's normal professional daily rates. SRK has no beneficial interest in the outcome of the technical assessment being capable of affecting its independence. Mr Simpson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the

2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Robin Simpson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The mineral resource estimate for the Kvanefjeld Project was updated and released in a Company Announcement on February 12th, 2015. There have been no material changes to the resource estimate since this announcement.

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Greenland Minerals and Energy Ltd.

EXPLORATION STAGE
CODE : GGG.AX
ISIN : AU000000GGG4
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Greenland Min. is a zinc and uranium exploration company based in Australia.

Greenland Min. holds various exploration projects in Greenland.

Its main exploration properties are KVANEFJELD and ZONE 2 in Greenland.

Greenland Min. is listed in Australia. Its market capitalisation is AU$ 68.3 millions as of today (US$ 49.3 millions, € 43.2 millions).

Its stock quote reached its highest recent level on February 18, 2011 at AU$ 1.37, and its lowest recent point on April 01, 2016 at AU$ 0.02.

Greenland Min. has 1 004 770 048 shares outstanding.

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Nominations of Greenland Minerals and Energy Ltd.
2/8/2011Appoints New Commercial Manager
Financials of Greenland Minerals and Energy Ltd.
2/2/2011Quarterly Report - Q4 2010
Project news of Greenland Minerals and Energy Ltd.
10/16/2013(Kvanefjeld)Progress Environmental and Social Impact Assessments on the ...
3/26/2013(Kvanefjeld)Kvanefjeld Feasibility Study Developments: Mine and Concentr...
10/17/2012(Kvanefjeld)Acquisition of the Outstanding 39% of the Kvanefjeld Multi E...
2/23/2012(Kvanefjeld): Kvanefjeld Project-Major Technical Breakthrough: Atmospher...
12/5/2011(Kvanefjeld)Government Introduces Uranium Licensing Framework for Kvanef...
8/15/2011gains full control of world's largest rare earth project
5/3/2011(Kvanefjeld)Builds First-Class Team to Facilitate the Kvanefjeld Feasibi...
3/23/2011(Kvanefjeld)Releases an Upgraded Resource Estimate for the Kvanefjeld Mu...
2/17/2011(Zone 2)Confirms a Substantial New Rare Earth Element - Uranium Depo...
2/1/2011(Kvanefjeld)Greenland Minerals Awards Contracts for Key Social and Envir...
Corporate news of Greenland Minerals and Energy Ltd.
6/9/2016Greenland and Denmark Pass Uranium Export Legislation, Solid...
2/1/2016December 2015 Quarterly Report
1/26/2016Greenland rare earth mining to remain contentious due to ura...
1/25/2016Greenland and Denmark Reach Landmark Agreement on Uranium Ex...
10/14/2015Director Appointment
4/10/2015Notice of Annual General Meeting and Explanatory Statement
4/7/2015New Memorandum of Understanding Signed With NFC to Focus on ...
4/7/2015(Kvanefjeld)New Memorandum of Understanding Signed With NFC to Focus on ...
4/1/20152014 Annual Financial report – 20 Mar 2015
4/1/2015Outstanding 2% royalty purchase – 10 Mar 2013
4/1/2015Exploration license renewal – 1 Apr 2015
3/3/2015Company Presentation, March 2015
3/2/2015Company Presentation, March 2015
3/2/2015Update on Current Activities, Outlook and Funding
2/12/2015Kvanefjeld Project – Mineral Resource Update
12/17/2014Assay of Historic Drill Cores at Kvanefjeld Return High-Grad...
12/3/2014Greenland parties in coalition talks, mining in focus
10/23/2014Feasibility Study Progress
7/9/2014Greenland Minerals and Energy Limited: Fully Underwritten $8...
10/27/2013Repeals Zero-Tolerance Uranium Policy
7/25/2013Set for Key Role in EU-Backed Rare Earth Supply Chain Initia...
10/1/2012Completes Capital Raising and Launches Share Purchase Plan
9/25/2012GGG:ASX Bell Potter Securities Initiates Research Coverage o...
9/20/2012(Kvanefjeld)Kvanefjeld Feasibility Study Underway: Metallurgical Develop...
8/6/2012(Kvanefjeld)Finalises Full Ownership of Kvanefjeld Multi-Element Project...
7/4/2012Greenland Minerals Renames Zone 2 Rare Ear
6/6/2012(Kvanefjeld)Zone 3 Grows Kvanefjeld Project Resource Inventory to 575 Ml...
5/17/2012Shaw Stockbroking increases Greenland Minerals valuation to ...
5/4/2012(Kvanefjeld)Kvanefjeld Prefeasibility Study Confirms a Long-Life, Cost C...
4/19/2012RM Research Commences Coverage on Greenland Minerals:
4/12/2012Annual Report: Greenland Minerals and Energy And Controlled ...
3/27/2012'Zone 3' Rare Earth - Uranium Deposit Shapes Up With Solid D...
3/21/2012(Zone 2)Releases Initial 242 Million Tonne Mineral Resource Estimate...
10/6/2011Independent Investment Research - Greenland Minerals and Ene...
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