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Company Information for Greenland Minerals and Energy Ltd

ASX-GGG

www.ggg.gl

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ASX; GGG

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Company Statement

Greenland Minerals and Energy Ltd, is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers. Our aim is simple; to identify large mineral deposits with the potential to underpin long term, economically robust mining operations. This is achieved through technically-focused exploration, aggressive resource development programs, and a strong understanding of the fundamentals that drive the business of mineral exploration and development globally.

Our flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride, commodities with long term forecasts for strong demand increases.

Current Operations

Greenland

Kvanefjeld Project - Greenland
The Kvanefjeld deposit is ideally positioned located only 8km behind the coastal town of Narsaq near the southern tip of Greenland. The deposit is hosted in the Ilimaussaq Complex, an alkaline intrusive complex that is approximately 17 x 8 km. Mineralisation at Kvanefjeld outcrops at surface along a series of undulating bluffs, and remains open in three directions, as well as at depth. Rare earth elements, uranium and sodium fluoride mineralisation is disseminated throughout a rock type called lujavrite; an unusual nepheline syenite.

After acquiring the project in mid-2007 Greenland Minerals and Energy launched an initial field program, and subsequently produced a first JORC compliant multi-element resource of 334 Mt. This resource is expected to grow following a large field program in 2008. The scale, continuity and near-surface location of the deposit make it ideally suited to bulk-tonnage mining methods, with the multi-element nature of the deposit reducing its sensitivity to volatility in individual commodity prices.

The Kvanefjeld deposit was previously evaluated as a potential uranium resource by the Danish Atomic Energy Agency through the 1970s. The drill core had been analysed spectrally, so there was no indication of economic concentrations of other commodities aside from uranium. Greenland Minerals and Energy acquired the project on the basis of its potential to host a much larger ore body than was indicated by the historic work with economic concentrations of a number of commodities, particularly rare earth elements.

In August 2008, the company released the latest JORC compliant inferred resource estimate for the Kvanefjeld deposit; this estimate contains: 2.59 Mt REO, 2.21 Mt NaF, and 101,000 tonnes of U3O8. These figures are based on the results of the 2007 field program. All data for the 2008 field program remains outstanding.

New Multi-Element Targets and Overall Resource Potential
During the 2008 field season, a series of anomalies identified from the 2007 airborne radiometric survey were followed up with geological mapping and ground based-radiometric surveys. This confirmed numerous new zones of lujavrite (host to multi-element ores at Kvanefjeld; see Kvanefjeld section), that clearly warranted drill testing. The targets are labeled K2 through to K8.

Late in the 2008 field season several holes were drilled into the K2 prospect, with thick intercepts of lujavrite intercepted in all holes. K2 appears likely to represent a continuation of mineralization from Kvanefjeld. A couple of holes were drilled into the K3 prospect, and a single hole was drilled near the K4 prospect. This drill hole was of particular interest as it was drilled to nearly 400m depth with lujavrite the dominant rock type throughout the hole; an extraordinary result (see section B-B”). The hole ended in lujavrite.

From this initial phase of drilling into the regional multi-element targets, a picture began to emerge; that mineralised lujavrite is much more wodespread than outcrops would suggest. A final hole was drilled near the K6 prospect on the edge of Lake Taseq. The hole intercepted approximately 200m of naujaite, before intercepting significant zones of lujavrite. This strengthened the theory that despite limited outcrops, lujavrite is likely to be continuous across much of the northern part of the complex from near surface to moderate depths. Kvanefjeld now appears to be just the beginning.

Geographical Spread

Greenland

Board of Directors and Key Management

Mr Michael Hutchinson	Non-Executive Chairman
Mr Roderick McIllree	Managing Director
Dr Hans Kristian (Hank) Schønwandt	Non-Executive Director
Mr Malcolm Mason	Technical Director
Mr Miles Guy	CFO
Mr Simon Cato	Executive Director
Mr Jeremy Whybrow	Exploration Director
Mr Tony Ho	Non-Executive Director

Company Address

Ground Floor, 33 Colin Street
West Perth, Western Australia, Australia 6005


Telephone:	+61 8 92261100
Facsimile:	+61 8 92262299
Website:	http://www.ggg.gl

Capital

Shares 192,695,177

Annual General Meeting

Mid-November

Year End

30th June

Major Shareholders

Westrip Holdings Ltd.

GCM Nominees

Gravner Limited

Most Recent Statement

01/02/10 - Summary report of interim prefeasibility results
29/01/10 - Quarterly Activities Report
21/01/10 - Quarterly Cashflow Report
22/10/09 - Update on Westrip Litigation
21/10/09 - Quarterly Cashflow Report
30/09/09 - Update on activities in Greenland

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