mongolia potash drilling ev $7m

Near term share price catalysts for GMM include its planned Mongolia potash and Australian manganese and iron ore drilling programs.

Current Market Cap: $11.0M (63.0M shares inc. escrowed, price 0.18, recent placement at 0.175):
Cash: $3.6M
EV: $7.4M

This EV is tiny. Should potash be intersected this baby is going to runnnnnnn!

*Uvs Project, Mongolia (100%):

- 5 licences covering >2,000km2 in Uvs Nuur Basin
- 3 to 5 holes planned to 1,000m depth for 3,000-5,000m drilling, targeting thick intervals of bedded potash
- March 2011 Mines & Money pres said drilling to commence in May 2011
- The March quarterly stated "Preparations underway for deep potash exploratory drilling at the Uvs project in Mongolia" and "Negotiations with drilling contractors are currently underway". However, still no announcement as to the signing of a drill contractor. Hopefully a positive announcement can be made soon.

*Shoemaker Manganese and Iron Project, Earaheedy Basin WA (50%, earning up to 80%):

-The March quarterly confirmed that drilling at iron ore and manganese targets is expected to commence on 15 May. That's 12 days away.
- Stage 1 RC drilling program to include 30 holes to ~80m depth totalling ~2,500metres of drilling.
- Prospective for DSO and BIF mineralisation
- Large meteorite structure (15-20km diameter), with GMM tenement holding covering high gravity area (see slide 14 March Presentation)
- GMM 2010, 33 rock chip samples 50-65% Fe (nice grades!)
- 19 rock chips samples 21-48% Mn (nice high grades!)
- Exciting recent sampling/drilling success by neighbours including ZNC (Lockeridge) (Market Cap: $40M) could show the Earaheedy Basin to be emerging as a new global manganese basin

*New Project Generation
March 2011 Mines & Money Presentation - Active research on new project opportunities in Mongolia and Central Asia:
- GMM database on most of 6,000 occurrences & deposits in Mongolia
- talks with vendors in Mongolia and Kazakhstan on gold, copper, coal and other projects