LABRADOR EXPO, HAPPY VALLEY-GOOSE BAY June 2013

Enabling green technologies through rare earth metal exploration and development

!"#$%&'"(%)*!+%,-)%.../012345652789256:3/;<7%=%

DISCLAIMER FORWARD-LOOKING STATEMENTS !"#$%#&'("")*+,'-.%./0/+.1''

%

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

'

2%34"+%#5'6"./'."'78-8'9+:/1."#1'2"+;/#+*+,'<140%./1'"='>/%13#/&?'9+&*;%./&'%+&'9+=/##/&'@/1"3#;/1'!

!A83%?5232946D<9%1323%4A2%42573% )263152BC% S9B8;642B %69B% S9@2552B %-23<15;23/%T/"/%89I234<53%652%6BI832B%4A64%.A8:2%31;A% 42573% 652% 52;<G98U2B% 69B% 5201852B% PN% O696B869% 52G1:6D<93C% 4A2% "2;158D23% 69B% (>;A69G2% O<778338<9% B<23% 9<4%52;<G98U2%4A27/% S9@2552B%-23<15;23 %A6I2%6%G5264%67<194%<@%19;2546894N%63%4<%4A285%2>83429;2C%69B%G5264%19;2546894N%63%4<% 4A285% 2;<9<78;% 69B% :2G6:% @2638P8:84N/% S4% ;699<4% P2% 633172B% 4A64% 6::% <5% 69N% ?654% <@% 69% 89@2552B% 523<15;2%.8::% 2I25% P2%1?G56B2B%4<%6%A8GA25%;642G<5N/%T9B25%O696B869%51:23C%23D76423%<@%S9@2552B%-23<15;23%76N%9<4%@<57%4A2%P6383%<@%@2638P8:84N%<5% <4A25% 2;<9<78;% 341B823/%T/"/% 89I234<53% 652% 6:3<% ;61D<92B%9<4% 4<% 633172% 4A64% 6::% <5% 69N%?654% <@% 69% S9@2552B%)89256:%-23<15;2%2>8343C%<5%83%2;<9<78;6::N%<5%:2G6::N%78926P:2/%%

'6%4"+%A'9+1.#30/+.'BCDEFE'!

!A83% ?5232946D<9%76N% 89;:1B2% A834<58;6:% 52325I2% 69B% 523<15;2% 89@<576D<9% 89% 523?2;4% <@% 4A2% ?5<V2;4% 65263% 4A64% B<% 9<4%;<9@<57%4<%4A2%520185272943%<@%&6D<96:%S934517294%WXE=Y=%69B%.A8;A%A63%9<4%P229%I258Z2B%PN%4A2%O<7?69N/%

[%

ABOUT QUEST RARE MINERALS

X%

•! H1P:8;:N%456B2B%;<7?69N%@<;132B%<9%-652%(654A%(:272943%69B%-652%)246:3%

•! (>?25829;2B%\<65B%69B%)696G27294%!267%%E! ]I25%[MY%N2653%<@%7696G27294%2>?25829;2%.84A89%4A2%78989G%69B%

2>?:<56D<9%89B1345823%

•! ^2I2:<?89G%4A2%"4569G2%J6F2%B2?<384C%4A2%.<5:B_3%:65G234%`-((%523<15;2%;6?6P:2%<@%722D9G%89B1345N_3%:<9GE4257%922B3%

•! a29256D9G%92.%-652%)246:3%?5<V2;43%89%(634259%O696B6%

RARE EARTH ELEMENT APPLICATIONS

W%

RARE METALS APPLICATIONS

M%

•! >"A5G&/+30'H>"IJ'3422:b6::<N3C%:1P58;694%

•! K3+,1./+'HLIJ';272942B%;65P8B2?'3422:b6::<N3%

•! M+40"+5'H-GIJ'6::<N3C%P6R25823C%2:2;45<98;3%

•! (*.N*30'H(*IJ'P6R25823C%;25678;3%69B%G:63323C%G52632%

•! 9+&*30'H9+IJ'6::<N3C%4A89EZ:73%cJO^C%G:633dC%`G%31P3D4142%

LOCATION OF STRANGE LAKE PROJECT

e%

STRANGE LAKE PROJECT B ZONE DISCOVERY

f%

STRANGE LAKE PROJECT B ZONE DISCOVERY

g%

•! K85P<592%56B8<72458;%315I2N%8B29DZ2B%6%[C[YY%7%PN%MYYE7%69<76:N%

•! h<92%456;2B%<I25%=CgYY%7%3458F2%:29G4A%69B%MYY%7%89%.8B4A%52415989G%315@6;2%G56P%367?:23%1?%4<%EO8EP'K@<Q%

•! S98D6:%B58::89G%<9%4A2%\Eh<92%B2?<384%;<9Z572B%I25N%G<<B%G56B23C%I25D;6:%2>4294%<@%-((%789256:8U6D<9%.84A%6%A8GA%?5<?<5D<9%<@%A26IN%-((%c`-((d%

•! ^2Z98D<9%B58::89G%P24.229%[YYL%69B%[Y==%A63%B2Z92B%6%:65G2C%315@6;2%<14;5<??89G%B2?<384%4A64%;<1:B%P2%7892B%PN%<?29E?84%

STRANGE LAKE PROJECT B ZONE DISCOVERY

L%

R/%#' S"+/' >/./#1' T"A/1'UFFV' WCBX' WB'%% \%h<92% XMWe% [W%%% ]4A25% =gY[% XY%UFEF' EBYCF' XE'%% \%h<92% =W[eg% fg%%% ]4A25% XeX% X%UFEE' UWBUW' UUB'%% \%h<92% [XLLM% [Ye%%% ]4A25% =WX=% =g%UFEU' WFOW' YF'%% \%h<92% =WYe% =Y%%% ]4A25% Xeeg% MY%K".%A' WFBOV' BEV'

2012 MILESTONES

•! ];4<P25%[Y=[+%-2I832B%523<15;2%B<1P:2B%4<996G2%23D7642%@<5%"4569G2%J6F2C%\Eh<92%-((%B2?<384%%

=Y%

SIMPLE OPEN PIT MINING OPERATION

==%

HREE PEER GROUP COMPARISON

=[%

6"./J'S9E3841%I6:12%P632B%<9%,-)%)65;A%[Y=[%H(K%?58;89G%@<5%89B8I8B16:%2:272943/%K:F692%89E3841%I6:12%P632B%<9%^1PP<_3%"2?427P25%[Y==%^i"%-((%?58;89G/%)65F24%O6?%1?B642B%j192%=[C%[Y=X/%

PRE-FEASIBILITY STUDY UPDATE

•! !<%P2%B2:8I252B%PN%4A2%32;<9B%A6:@%<@%[Y=X%•! \1:F%<@%29G8922589G%.<5F%A63%P229%;<7?:242B%

•! ,1234%83%2>678989G%?<429D6:%52Z9272943%4<%4A2%"4569G2%J6F2%H5<V2;4%4<+%%

•! @154A25%52B1;2%?5<V2;4%583F%%

•! :<.25%;6?846:%;<343%%

•! :<.25%<?256D9G%;<343%

•! 6::<.%@<5%69%265:825%7892%;<778338<989G%B642%

=X%

SITE ENGINEERING UPDATE

=W%

PFS TECHNICAL TEAM AND R&D INPUT

•! T%.;N'M11";*%./1'(.&J''!! H5<I8B2B%4A2%29G8922589G%B238G9%@<5%4A2%%-((E&PEh5%3<:I294%2>456;D<9%?:694%

•! M<2Q>J''!! S9I<:I2B%89%4A2%3842%29G8922589G%.<5F%69B%;<7?:2D<9%<@%29I85<972946:%P632%:892%B646%;<::2;D<9%%!! H52?656D<9%<@%42573%<@%52@2529;2%@<5%,1234_3%29I85<972946:%87?6;4%6332337294%

•! >*;"+'9+./#+%4"+%A'(*0*./&'%+&'M><2'<%#.N'Z'<+:*#"+0/+.%AJ'!! ^238G92B%4A2%7892%?:69%69B%%?5<B1;D<9%3;A2B1:2%69B%4A2%G2<42;A98;6:%341BN%<@%4A2%B2?<384%C%523?2;DI2:N%

•! -(@'9+./#+%4"+%A'H="#0/#A5'-<-IJ''!! !68:89G3%B83?<36:%@6;8:84N%3842%B238G9%69B%29G8922589G%%

•! T%[/+'@/1/%#;NJ''!! S9I<:I2B%89%P29;A%3;6:2%423D9G%<@%4A2576:%31:?A6D<9%?5<;233%%

•! @/1/%#;N'%+&'\#"&3;4:*.5'2"3+;*A'H@\2IJ''!! i:<646D<9%69B%)6G92D;%"2?656D<9%\292Z;86D<9%2I6:16D<9%<@%"J%<523

•! \#";/11'@/1/%#;N'Q#./;NJ''!! S9I<:I2B%89%P29;A%3;6:2%423D9G%<@%4A2%3<:I294%2>456;D<9%?5<;233%4<%B2I2:<?%6%32?656D<9%?5<;233%!! O155294%:<;6D<9%<@%,1234_3%7898%?8:<4%?:694%

•! >;]*AA'7+*:/#1*.5?'^/_%#.0/+.'"='<%#.N'%+&'<+:*#"+0/+.%A'-;*/+;/1J''!! a2<:<G8;6:%523265;A%<@%4A2%"4569G2%J6F2%B2?<384%%!! ^2I2:<?7294%<@%2>?:<56D<9%4<<:3%@<5%4A2%B83;<I25N%<@%6BB8D<96:%-((%69B%5652%7246:%523<15;23%

=M%

UPCOMING PROJECT MILESTONES

\@Q`<2K'>9(<-KQ6<' ^<(9a<@R'K9><(96<'

O]))(&O(%iTJJ%HSJ]!%HJK&!% ,[%[Y=X%

^(JSk(-'%]i%H-(Ei(K"S\SJS!'%"!T^'%% `[%[Y=X%

"]OSKJ%JSO(&O(%O]&"TJ!K!S]&"C%)]TC%S\K% [Y=X%

("!K\JS"`)(&!%]i%"THHJ'%K&^%"!-K!(aSO%^(k(J]H)(&!%Ka-(()(&!"% [Y=W%

^(JSk(-'%]i%i(K"S\SJS!'%"!T^'%% ,[%[Y=M%

=e%

PROJECT LOGISTICS ADVANCING

=f%

PORT ENGINEERING LOCATION

=g%

2012 METALLURGICAL MILESTONES

•! ^2;27P25%[Y=[+%"4654E1?%<@%)898%H8:<4%)8::%H:694%

=L%

ENVIRONMENTAL STEWARDSHIP

•! (9I85<972946:%342.65B3A8?%P2G69%89%[YYL%64%4A2%265:N%346G23%<@%2>?:<56D<9%!! "4569G2%J6F2%H5<V2;4%O:2691?%H5<G567%l%k<:19465N%"42.65B3A8?%

•! K3%?654%<@%4A2%Hi"C%6%;<7?:242%?5<G567%<@%29I85<972946:%P632:892%341B823%.252%6;A82I2B%P24.229%[Y==%69B%[Y=X%

•! ^2;<778338<989G%69B%;:269E1?%<@%6::%B2I2:<?7294%69B%2>?:<56D<9%B58::89G%38423%4<%P2%;<7?:242B%89%[Y=X%

%

[Y%

STRANGE LAKE CLEANUP PROGRAM

[=%

•! O:269E1?%<@%A834<58;6:%34<;F?8:2%<@%XMY%27?4N%<5%5<;F%<5%@12:EZ::2B%B5173%4A5<1GA<14%4A2%?5<V2;4%6526%

•! K::%B5173%.252%27?D2B%69B%3A8??2B%4<%69%614A<58U2B%B83?<36:%3842%89%\682%O<7261C%,O%

•! )83;2::692<13%3;56?%7246:%69B%89@563451;4152%;:2692B%<5%527<I2B%@5<7%?5<V2;4%6526%

ABORIGINAL COMMUNITY RELATIONS

•! i8534%&6D<93%69B%KP<58G896:%346F2A<:B253%8B29DZ2B$%<m;86:%?1P:8;%;<931:46D<93%P2G69%89%)65;A%[Y=[%

•! \1389233%?6549253A8?3%69B%<??<54198D23%A6I2%P229%2346P:83A2B%@<5%KP<58G896:%346F2A<:B253%

•! "1;;233@1:%KP<58G896:%4568989G%69B%27?:<N7294%898D6DI2%@5<7%[Y=Y%•! "<;86:%:8;2932%;<931:46D<93%652%89%?5<G5233%.84A%KP<58G896:%?6549253%

[[%

18 MONTH REE SECTOR TRENDS

[X%

nY/YY%

nY/MY%

n=/YY%

n=/MY%

n[/YY%

n[/MY%

nX/YY%

nX/MY%

nW/YY%

,-)%

KkJ%

KJ*%

!K"%

)K!%

`-(%

TOT%

J'O%

STRONG BOARD

[W%

•! \/./#'`8'2%1N*+?'\#/1*&/+.'Z'2<Q'•! `63%<I25%XY%N2653%<@%2>?25829;2%89%6::%@6;243%<@%4A2%78923%69B%789256:3%89B1345NC%.<5F2B%@<5%76V<5%69B%V198<5%78989G%

2>?:<56D<9%;<7?69823%89%,12P2;C%]94658<C%4A2%)658D723C%4A2%T9842B%"46423%69B%<I253263%•! @"G/#.'(8'(/;A/#;?'2N%*#0%+'"='.N/'b"%#&'

•! \1389233%69B%:2G6:%6BI83<5%69B%@5<7%j192%[YYW%4<%)65;A%[Y=[C%A2%.63%4A2%OA685769%<@%)892Z9B253%O<5?<56D<93%J4B/C%.63%@<5725:N%OA685769%69B%OA82@%(>2;1DI2%]m;25%<@%(;A<%\6N%)8923%J4B/C%69B%?58<5%4A2524<%.63%843%OA685769%

•! >%;)/+[*/'98'L%.1"+?'T"+"#%#5'2N%*#0%+'•! `63%<I25%WM%N2653%<@%2>?:<56D<9%2>?25829;2%69B%A63%P229%89I<:I2B%89%4A2%B83;<I25N%<@%91725<13%B2?<3843%4A5<1GA<14%

O696B6C%.63%6.65B2B%O696B6_3%H5<3?2;4<5%<@%4A2%'265%K.65B%89%=LL=%69B%[YYL%69B%4A2%,12P2;%H5<3?2;4<5%<@%4A2%'265%K.65B%89%=LL[%%

•! 6/*A'L*/+/#?'b828(8?'2"#_"#%./'-/;#/.%#5'%+&'^*#/;."#'•! `63%P229%?56;D;89G%389;2%=Lg=C%83%6%?654925%89%4A2%)<94526:%<m;2%<@%`22969%\:68F82%JJH/C%89I<:I2B%89%?58I642%?:6;272943C%

46F2E<I25%P8B3C%G<89GE?58I642%456936;D<93C%34<;F%2>;A69G2%:83D9G3%69B%6%P5<6B%569G2%<@%<4A25%32;158D23%76R253%•! @"+%A&'c%5?'b8'<+,'H]/"I?'>8b8M8?'^*#/;."#'

•! S3%6%7246::15G8;6:%29G89225%.84A%WY%N2653%<@%2>?25829;2%89%4A2%Z969;86:%89B1345NC%?<38D<93%89;:1B2%3298<5%78989G%696:N34%69B%;<931:4694%4<%32I256:%76V<5%P5<F256G2%;<7?69823%

•! >*;N%/A'\/1+/#?'b2M?'bM?'^*#/;."#'•! o63%6%3298<5%?654925%89%Z969;86:%6BI83<5N%325I8;23%64%*H)a%JJHC%89%)<94526:C%;155294:N%6%B852;4<5%<@%-8;A7<94%)8923%S9;/C%

)894%!2;A9<:<GN%O<5?C%"69B%!2;A9<:<GNC%69B%\841729%O6?846:%S9;/%•! `"N+'\%++/."+?'^*#/;."#'

•! "?294%XY%N2653%.84A%OS\O%o<<B%a19BN%63%4A2%(>2;1DI2%k8;2%H5238B294C%.63%4A2%O(]%<@%OS\O%S9I2347294%)696G27294%O<5?/C%4A2%OA685769%<@%OS\O%c"18332d%"/K/C%(>2;1DI2%k8;2%H5238B294%<@%^19B22%o26:4AC%k8;2%OA685769%<@%^19B22%O6?846:%)65F243/%%

•! ]/"#,/'\"d/#?'^*#/;."#'•! "298<5%78989G%2>2;1DI2%.84A%7<52%4A69%Xe%N2653%<@%8942596D<96:%2>?25829;2%89%?5<V2;4%B2I2:<?7294%69B%<?256D<93C%325I2B%

63%6%"298<5%k8;2EH5238B294%O6?846:%H5<V2;4%<@%\6558;F%a<:B%O<5?/%

CONCLUSIONS

•! -.#%+,/'(%)/'*1'.N/'A%#,/1.'T@<<'#/1"3#;/';%_%GA/'"='0//4+,'.N/'*+&31.#5e1'A"+,D./#0'+//&1'

•! T*,N/1.'A/:/A'"=';#*4;%AfN/%:5'#%#/'/%#.N1'*+'_//#',#"3_'•! -*0_A/'"_/+D_*.'"_/#%4"+'•! >/.%AA3#,5'%&:%+;*+,'1./%&*A5'%+&'#/13A.1'G/%4+,'_#/:*"31'/g_/;.%4"+1'•! -.#"+,'./;N+*;%A'%+&'&/:/A"_0/+.'./%0'$*.N'*+'/g;/11'"='UWF'5/%#1'/g_/#*/+;/'

[M%

CONTACT INFORMATION

\/./#'`8'2%1N*+?'\#/1*&/+.'Z'2<Q',1234%-652%)89256:3%J4B/%(768:+%?2425/;63A89p012345652789256:3/;<7%a29256:%(768:+%89@<p012345652789256:3/;<7%''

'''''''''!"AA"$'31J'''''T/%&'Qh;/'' ' ' ' ' '<g_A"#%4"+'Qh;/' ' ' ''''''''''@/,*"+%A'Qh;/''==MM%T98I25384N%"45224 % % % %=%KB2:68B2%"45224%(634 % % %%%%%%%%%%=gL%o6425%"45224%"1842%LYe % % % % % %"1842%[MYY % % % % %%%%%%%%%%"4/%j<A9_3C%&iJC%K=O%=\W%)<94526:C%,12P2;%`\X%XKf % % %!<5<94<C%]94658<C%)MO%[kL % %%%%%%%%%%!2:+%cfYLd%f[WEWeWe%!2:+%cM=Wd%gfgEXMM= % % % %!2:+%cW=ed%L=eEYfff % % %%%%%%%%%%!2:+%cfYLd%f[WEWeWM%!<::%i522+%=%cgggdgfgEXMM= % % %!<::%i522+%=%cgffd%L=eEYfff % %%%%%%%%%%i6>+%cfYLd%f[WEWeWX%i6>+%cM=Wd%gfgEWW[f % % % %i6>+%cW=ed%L=eEYffL%

";69%4A2%P65;<B2%@<5%6%X^%69876D<9%<@%4A2%"4569G2%J6F2C%\Eh<92%-23<15;2%%%

[e%