Mongolia - General Mining

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10 Summary 1 - PROJECT OVERVIEW 1.1 Project Locations GMM holds exploration licences in both Western Australia and Mongolia. The Company’s Mongolian licences are centered in the north-west region of the country within the Uvs province which adjoins Russia to the north, and along the Khangai fault. GMM has also entered into a Strategic Alliance with Galaxy Resources Ltd with a view of jointly identifying and developing lithium projects in Mongolia and Kazakhstan. Uvs Potash Projects Khangai Fault Projects Black Hill Mt Kinahan Veevers Webb Shoemaker Eyre Figure 1: Location Map of GMM Projects
Mongolia 1.2 Mongolian Projects 1.2.1 The Untapped Mineral Potential of Mongolia Mongolia is a young, developing democracy that sits between Russia and the resource hungry China. Since the fall of communism in the early 1990’s in Mongolia the Government has been seeking to overcome its dependence on Moscow and Beijing, and accordingly has been seeking to build stronger ties with the West under its so-called “third neighbour” policy. Despite Mongolia being surrounded by mineral rich regions such as Siberia, Kazakhstan and Inner Mongolia, only little modern exploration has been conducted within the country. Russian explorers throughout the 1960’s and 1970’s focused attention on Mongolia, which resulted in an extensive database of geological and geochemical maps and several world class discoveries. More recently a rush of investment in Mongolia during the late 1990’s and into the next decade resulted in a number of significant discoveries including the Oyu Tolgoi copper-gold deposit. This led to a political debate in Mongolia over how the country should best manage its resources. The ensuing political and legal uncertainty resulted in long delays to the signing of an investment agreement with Ivanhoe Mines Ltd and Rio Tinto, the owners of Oyu Tolgoi. The signing of a stability agreement for the development of the Ivanhoe and Rio Tintos flagship, the multi-billion dollar Oyu Tolgoi copper-gold project, is a large vote of confidence by Mongolia in foreign investment and by Rio Tinto and Ivanhoe in Mongolia’s future. Notwithstanding this, there remain significant sovereign risks in operating in a country such as Mongolia. With world class deposits such as Oyu Tolgoi (reported resources of 1.39b tonnes at 0.98% copper and 0.24 g/t gold as of March 2007) and Erdenet (reported resources of approximately 1.78b tonnes at 0.62% copper and 0.025% molybdenum) and with little modern exploration having been conducted over large areas of the country, Mongolia has the potential to emerge as one of the most attractive exploration frontiers in the world. Mongolia’s location next to China provides a ready market for Mongolia’s mineral wealth. Figure 2: Copper in outcrop in Gabbro along the Khangai Fault General Mining Corporation Ltd ~ Prospectus 11
Page 1 and 2: General Mining Corporation Limited
Page 3 and 4: 2009 Prospectus GMM’s Directors v
Page 5 and 6: 2009 Prospectus Table of Contents C
Page 7 and 8: Expenditure Plans and Use of Funds
Page 9: GMM has worked extensively over the
Page 13 and 14: Figure 3: Shuuden Uul Halite Deposi
Page 15 and 16: 1.2.3 Khangai Fault (Base Metals GM
Page 17 and 18: 1.4 Other Australian Projects 1.4.1
Page 19 and 20: Craig Readhead (Non-Executive Direc
Page 21 and 22: or any part of it early, or extend
Page 23 and 24: Executive summary Golden Cross LLC
Page 25 and 26: 1.2 SCOPE OF WORK EAL were requeste
Page 27 and 28: Khuden Khuden (Coal) (Coal) (Coal)
Page 29 and 30: equire the construction of a shaft,
Page 31 and 32: Licence Details Mineral Occurrence
Page 33 and 34: Figure 5: Schematic Depositional an
Page 35 and 36: interbedded with potash salts. This
Page 37 and 38: absence of roads and tracks. The we
Page 39 and 40: As coal and/or potash represents a
Page 41 and 42: Table of Contents page 1. OVERVIEW
Page 43 and 44: 2.1.2 Exploration History Limited d
Page 45 and 46: The Earaheedy Basin follows the Ham
Page 47 and 48: eef-style platinum group elements (
Page 49 and 50: 2.3.3 Geology and Mineralisation Th
Page 51 and 52: 2.4 Veevers Project ELA 80/3986 (Cu
Page 53 and 54: 2.5 Black Hill Project E 80/3663 (S
Page 55 and 56: 2.6 Mount Kinahan Project E 80/3662
Page 57 and 58: 3. REFERENCES Abeysinghe, P. B., 20
Page 59 and 60: 4. GLOSSARY OF TECHNICAL TERMS aero
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pyrite Iron pyrites, an iron sulphi
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Foreign investors Mongolia has a fo
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VAT Law: Subject to certain exempti
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officers, agents or representatives
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If the proposed grant is advertised
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SCHEDULE A - TENEMENTS Tenement Num
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December 2007. Pending grant, Quaal
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3. Background GMM was incorporated
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Investigating Accountant’s Report
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These gains and losses are included
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at fair value through profit or los
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Note 2 Unaudited Consolidated GMM 3
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9 - Corporate Governance The Direct
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Principle 4 - Safeguard integrity i
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The Company’s remuneration polici
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and the effectiveness of and enforc
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• obtaining consents and approval
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11 - Additional Information 11.1 In
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a) full-time or part-time employees
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freely transferable in whole or par
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sections is not intended to and doe
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Glossary The following defined term
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Offer Application Form This Applica
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General Mining Corporation Ltd ~ Pr
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Mongolia - General Mining

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