An Introduction to Kiruna Iron for

8th Fennoscandian Exploration and Mining – FEM 2011

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Disclaimer This Document and the information contained herein and any presentation (collectively referred to as “Information”) is proprietary to Scandinavian Resources Limited/Kiruna Iron Aktiebolag (“the Company”). Potential investors must make their own independent assessment and investigation of the opportunity and should not rely on any statement or the adequacy or accuracy of the information provided. Securities of micro cap exploration companies, typically involve a high degree of risk and as such, any investment in the Company must be considered as speculative. The Information provided does not purport to cover all relevant information about any potential investment in the Company. Accordingly potential investors are advised to seek appropriate independent advice, if necessary, to determine the suitability of this investment. The Document contains reference to certain intentions, expectations and plans of the Company. Those intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company or any of their respective directors, employees, agents, advisers and consultants that any intentions, expectations or plans will be achieved either totally or partially or within a prescribed timeframe or that any particular rate of return will be achieved. The Information disclosed relates to the proposed business of the Company at the date of this Document. Material information may have changed since the date the Document was compiled. No responsibility is accepted to advise any person of any change or update any of the Information. Neither the provision of this Document nor any information contained in this Document or subsequently communicated to any person in connection with this Document is, or should be taken as, constituting the giving of investment advice to any person. By accepting this Document you acknowledge and agree to be bound by each of the foregoing statements.

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CORPORATE STRUCTURE

Scandinavian Resources Ltd

(ASX:SCR)

Scandinavian Resources AB

Kiruna Iron AB

100%

100%

Precious & Base Metals

Bulk Commodities

Incubating minerals

projects from public and

private databases 2007

2009

2010

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SCANDINAVIAN RESOURCES LTD - DIRECTORS Damian Hicks

Chairman

• Founding director

• Founding director of Hannans

Reward Ltd in 2002, currently

Managing Director

• Bachelor of Commerce

(Accounting & Finance) from

University of Western Australia

• Admitted as Barrister & Solicitor

in Western Australia

Olof Forslund

Technical Director

• Founding director

• Geophysicist with extensive

international experience in the

mineral exploration industry

• Majority of career with Geological

Survey of Sweden (SGU);

commenced in 1966

• Previously Regional Manager of SGU

Mineral Resources Information

Office

Ian Gregory

Director & Company Secretary

• Over 25 years experience in the

provision of company secretarial

services in the exploration,

mining, mineral processing, and

other industries

Paul Thomas

Non-Executive Director

• Metallurgist in the mining industry

for 25 years

• Managing Director of

OM Holdings Ltd’s

(ASX: OMH) subsidiary, OM

Manganese

Markus Bachmann

Non-Executive Director

• Corporate finance professional

and founding partner of Craton

Capital

• Craton Capital awarded Fund

Manager of the Year at the

Mining Journal’s “Outstanding

Achievement Awards” during

December 2010

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INCUBATION & OWNERSHIP

Kiruna Iron AB has been incubated by the Team at

Scandinavian Resources Ltd (ASX:SCR)

Kiruna Iron AB is striving to become a producer of

Premium quality iron products

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STRATEGY

Aggregate significant quantities of iron within the world-class

Kiruna District, Sweden

Mine iron from a number of 50 - 100Mt iron deposits within 80km

of Kiruna

Produce a premium quality iron concentrate

Transport the concentrate to customers in Europe, Middle-East

and Asia via road, rail and or sea

Ice breakers in Port of Lulea Rail at Port of Lulea

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KIRUNA DISTRICT - UNDEREXPLORED

• Kiruna Iron AB is the

largest permit

owner in the Kiruna

District

• Minimal exploration

completed in Kiruna

since SGU completed

the Iron Ore

Inventory Program

(IOIP) in 1960/70’s –

diamond drilling and

geophysical surveys

• Kiruna Iron AB has

secured majority of

IOIP iron

occurrences and has

access to SGU

diamond drill core

and geophysical data

– significant time &

cost savings

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KIRUNA IRON’S DEPOSITS

Tjårrojåkka

Åkosjegge

Mineral deposits within Kiruna Iron AB’s permits

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KIRUNA IRON AB – A MAJOR PERMIT POSITION

Cooperation Agreement with

Boliden Mineral AB 6 September 2011

Acquires Iron Project from

Grängesberg Iron AB 8 June 2011

Acquires Rakkuri Project from

Anglo America and Rio Tinto 15 November 2010

JV with Tasman Metals 28 June 2010

IPO, initial public offering 21 April 2010

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ACHIEVEMENTS SINCE IPO

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FINANCIAL ADVISERS APPOINTED

continues growing Kiruna Iron Project with the strong support of

• publicly listed on Toronto and London

exchanges with a market capitalisation of

USD1.2 Billion

• operations in Canada, the United States and

China

• strong financial position with USD954 Million in

cash and cash equivalents

• completed 650 financings since 2010 worth

over USD45 Billion including 171 mining

financings worth over $8.6 Billion

• offices across Norway, as well as in Stockholm,

Malmö, New York and Singapore

• #1 ranked manager of IPOs and listings on Oslo

Børs having managed ~70 IPOs and listings

since 2005, corresponding to ~40% market

share

• recently acquired the Swedish investment

banking arm of the Öhman group

• SRK engaged as an independent specialist to provide

BDO with an opinion on the technical valuation of

mineral assets of SCR

• SRK considers that the Technical Value of the

proportion of the Assets held by SCR lies in the range

of USD77m to USD143m

• SRK’s preferred value is USD125m, which reflects a

value closest to the Comparable Transaction valuation

and also incorporates consideration of the Past

Expenditure valuation of the Early Stage Exploration

Target asset group

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TECHNICAL VALUE @ USD125M

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IRON ORE DEPOSIT AT RAKKURIJOKI

ASX announcement 13 July 2011

Rakkurijoki-74.5Mt @ 39.7% Fe, 0.28% P, 0.89% S

• One twin hole and seven exploration holes completed.

• Twin hole RJO11002 returned 25m @ 51% Fe from 213m, 17m @ 47% Fe from 301m and 39m @ 37% Fe from 327m.

• Exploration hole RJO11001 returned 23m@ 43% Fe from 88m and 45m @ 36% Fe from 121m.

• Exploration hole RJO11003 returned 46m@31% Fe from 266m.

• Mineralisation currently open at a depth of >400m

JORC Inferred resource

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HIGH GRADE IRON

Platey

hematite

from

Harrejaure

Project

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INFERRED AND INDICATED RESOURCES

Indicated resources JORC

Inferred resources JORC

ASX announcement 29July 2011

1

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Inferred and indicated resources

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VALUE PROPOSITION

COMPANY

TONNES

(Mt)

IRON

GRADE

(%)

MARKET

CAP

(A$M)

LOCATION

STAGE /

LISTED

EXCHANGE

NOTES

Scandinavian

Resources Ltd

Indicated

Resources

73.8Mt

Inferred

Resources

338.3Mt

43

39

42

(fully

diluted)

Northern

Sweden

Explorer

ASX:SCR

Minimal exploration since

1970

Located adjacent to Kiruna

town and rail infrastructure

No off-take agreements

OMH own 16% of SCR

Northland

Resources Inc

176

(Reserves) 26 - 41 336

Northern

Sweden

Developer

TSX:NAU

Intensive exploration during

last 5 years

DFS for Kaunisvaara

Plan to truck ore 150km to

rail head en route to Narvik

Off-take agreements with

Standard Bank, Stemcor and

Tata Steel

Project finance in place

Fully permitted

Northern Iron

Ltd

623

(Resources

& Reserves)

32 386 Northern

Norway

Miner

ASX:NFE

OMH own 16% of NFE

LKAB Northern

Sweden Major Miner

International high-tech

minerals group

One of the world’s leading

producers of upgraded iron

ore products s

Table dated 2 September 2011

• Currently more than 15 additonal iron targets are being worked up including Gäddmyr, Karanisvare, Tjåorika, Hotnjos, Kuosatjvare, Pattok, Teltaja, Kevus, Tervakoski, Leppäjoki, Holmajärvi Södra, Saivo, Rappakojärvi, Staggotjåkka, and Eustillako .

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Other Projects

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Amanda Arrowsmith, Exploration Manager, on her way to Harrejaure (left) Damian Hicks, Chairman, and Markus Bachmann, Director, at Sautusvaara (centre)

Future employee (right)

Hans Lindberg 2011 Hans Lindberg 2011 Hans Lindberg 2011

Thank you for your attention!

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