Mongolia - General Mining

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5 - Independent Geological Report - Australia
26 October 2009
The Directors
General Mining Corporation Limited
129 Edward Street
PERTH WA 6000
Dear Sirs,
5 - Independent Geological Report
Australia
J.L. Geological Services Pty Ltd (JLGS) has been commissioned by General Mining Corporation Ltd (GMM) to
provide an Independent Geologist’s Report on their Australian mineral exploration properties to form part of their
lodgment with the Australian Securities and Investments Commission (ASIC). This report is to be included in a
Prospectus for the proposed admission of GMM to the Australian Securities Exchange (ASX).
DECLARATIONS
Sources of Information
This report is based on information supplied by General Mining Corporation; on published material such as books,
journals and industry publications; on WA open-file statutory mineral exploration reports (WAMEX); on WA mines
and mineral deposits (MINEDEX) information and on databases of airborne and ground geophysical surveys.
Wherever available, the independent geologist has inspected and perused original data, such as assay results,
company reports, government publications and the like. The research was largely office-based, yet the independent
geologist also visited one of the two Kimberley projects.
While the independent geologist has checked the status of the West Australian tenements, responsibility for tenement
maintenance rests with GMM.
This Report is Not a Valuation
This Report is not a valuation and no opinion is expressed as to the value of the individual prospects, vendor or
promoter considerations, nor to the merits of investment in General Mining Corporation.
Limit of Own Work
J.L. Geological Services’ Independent Geologist’s Report covers GMM’s Australian projects. It has been prepared on
the basis of information available up to and including 26 October 2009.
Limitation & Risk
In preparing this report, the independent geologist has endeavoured, by making all reasonable enquiries, to confirm
the authenticity and completeness of the technical data upon which the Independent Geologist’s Report is based.
Several drafts of the report were also provided to GMM, along with written requests to identify any material errors
or omissions prior to lodgment.
Qualifications
Dr. Janos L. Locsei, the author of this report, is the principal of J.L. Geological Services Pty. Ltd. He is a professional
Australian geologist who obtained his PhD in geology from the University of Vienna with distinction in 1970 and
moved to Australia the same year. For more than thirty years he has worked in Australia (Qld and WA), Fiji, Iran
and Thailand on exploration and mining projects. His last position prior to this assignment was that of mining
superintendent at a gold mine in northeast Thailand. Dr. Locsei obtained an MBA from Curtin University in 1999,
and an MSc in Mineral Economics from the WA School of Mines in 2001. He is a Fellow of the Australasian Institute
of Mining and Metallurgy. He has previously prepared, resp. contributed to, project evaluations and Independent
Geologist’s Reports.
Independence
Neither J.L. Geological Services Pty. Ltd., nor any of its employees, have any direct or indirect interest in the projects
which are the subject of this report, nor in the securities of GMM. This report has been prepared in return for
professional fees based upon agreed commercial rates and the payment of these fees is in no way contingent on the
results of this report or on GMM’s success in its initial public offering.
Conformity
This report has been prepared so as to conform to the requirements of the Australian Securities and Investment
Commission Regulatory Guides 56 (Prospectuses) and 112 (Independence of experts). Also the guidelines of JORC
(2004) have been observed.
Consent
J.L. Geological Services Pty Ltd consent to the inclusion of this report in the General Mining Corporation Prospectus,
be it as electronic or paper media - in the form and context in which it has been prepared.
Dr. Janos L. LOCSEI
Geologist, FAusIMM