Resource Hunter Capital Corp. Phosphate Mining in West Africa


GB Minerals Ltd. is a Canadian mining exploration and development company that is focused on developing the Farim Phosphate Project located in Guinea-Bissau, West Africa. The project is a world class, high quality, development phosphate deposit containing a measured resource of 64.6 million tonnes at 29.11% P2O5, indicated resource of 28.1 million tonnes at 27.68 P2O5 (for a total measured and indicated resource of 92.7 million tonnes) and another 18.3 million tonnes at 28.66% P2O5 for a 25 year mining plan for a ROM of 32.5 million tonnes at 30.4% P2O5 @ 4.5%Fe2O3 and 2.5% Al2O3 producing 25 Mt at a rate of 1 Mt/yr beneficiated phosphate rock concentrate having a grade of 33.1% P2O5 @ 1.6%Fe2O3 and 1.4% Al2O3, and total proven and probable reserves of 33.0 Mt (dry) with an average ROM P2O5 grade of 30.4%, as disclosed in the Company's NI 43-101 Feasibility Study dated effective December 19, 2012 filed under the Company's profile on SEDAR at www.sedar.com. The Company has been granted a Production License from the Government of Guinea Bissau to pursue a strategy towards production of up to 2 million tonnes per annum of phosphate rock for a minimum of 25 years. Estimated capital costs are US$238.2 million and operating costs are US$77.12 per tonne. GB Minerals Ltd. shares are listed on the TSX Venture Exchange under the symbol "GBL".

NI 43-101 Technical Report of Feasibility Study

The Company’s current technical report (the “Technical Report”) for its Farim Phosphate Project prepared in accordance with National Instrument 43-101 (“NI 43-101”) is entitled, “Feasibility of the Beneficiated Rock Concentrate of the Farim Phosphate Project, Guinea-Bissau an NI 43-101 Report” dated effective December 19, 2012, and was filed under the Company’s profile on SEDAR at www.sedar.com on January 17, 2013. The Technical Report was prepared for the Company by Michael Short, FIMMM, C.Eng. and Ian Jackson, BEng, ACSM, CEng, MIMMM, MSAIMM of GBM Minerals Engineering Consultants Limited, Richard Elmer, CEng, MIMMM (CP), Dr. Martin Preene, CEng, Dr. Marcelo Godoy, MAusIMM (CP), Terry Kremmel, PE (MO and NC), SME (CP), Hendrik J.H. Otto, PEng (SA) of Golder Associates Ltd., and Matthew Clark, P.E., CEng, PMP (QP) of W.F. Baird & Associates Coastal Engineers Ltd., all of whom are independent Qualified Persons as defined under NI 43-101.