>   Figure 1, Property location Mouse over to zoom, Click to enlarge.

>   Figure 2, Land Position: 2155 licences, 1052.7 km2Mouse over to zoom, Click to enlarge.

>   Figure 3, Vanadium zones that have been drill testedMouse over to zoom, Click to enlarge.

Project Description: 

The Green Giant Vanadium Project, located in Madagascar, is one of the largest known vanadium deposits in the world.  The project comprises of several 100% owned claims and additional claims through a 75% ownership interest joint venture partnership (JV) with Malagasy Minerals.

Energizer’s deposit is unique from other known Vanadium deposits because it is sediment-hosted and not magnetite-hosted like the majority of other known Vanadium deposits.  As a result, the project would produce as a primary product, a clean liquor requiring less processing to produce the high purity (99.5%), battery-grade vanadium.

Primary Product: Vanadium (V₂O₅ or Vanadium Pentoxide) in high-purity form (99.5%).

Property Location: South Central Madagascar, 145 km SE of the city of Toliara, Tulear Region (Figure 1).

Land Position: 2155 licences, 1052.7 km2 (36 licences 100% owned, 2119 JV licences 75% owned) (Figure 2).

NI 43-101 Resource Estimate: The Company’s work has resulted in the delineation of a National Instrument 43-101 compliant (NI 43-101) resource estimate with an indicated resource of 49.5 million tonnes at an average grade of 0.693% Vanadium pentoxide (V₂O₅), containing 756.3 million pounds of V₂O₅ and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V₂O₅, containing 134.5 million pounds of V₂O₅.   

This National Instrument 43-101 resource estimate ranks the Green Giant vanadium deposit as the 3rd largest known deposit in the world. Based on the Company’s exploration efforts to date, a 21-km (18 mile) continuous Vanadium trend has been identified on the property, of which we have drilled only 25%. The Vanadium resource comprises of three main sections: Jaky, Manga, and Mainty.

Current Work Program:

Because Energizer’s Green Giant vanadium is sediment-hosted, and not magnetite-hosted like the majority of other known Vanadium deposits, the vanadium will be processed differently than the magnetite-hosted deposits. A well-known process called alkaline press leaching will be utilized to process the vanadium and it is expected to naturally produce a battery-grade form of V₂O₅ (99.5%+ in purity) directly from the process.

Progress To Date

The Company initiated a PEA study in 2011 but augmented the study due to its graphite discovery. A revised PEA study for the graphite resource is due out in December 2012. Most of the below information will be incorporated in the updated PEA.

•   Building Layouts are 98% complete with minor adjustments required for the laboratory, Canteen/Shop and an additional building added for the Power Plant Offices
•   Preliminary Layouts for the buildings have been prepared and are under review, with layouts for each building sent out for pricing
•   The Residential Village Plan is complete with designs, layout and costs. The layout formed part of the drawing pack issued for comments / approval. The residential village will cater for the full 550 people and will have executive, white collar and blue  collar dormitories, a general kitchen / canteen / laundry block, a recreation block and a small all-purpose shop
•   A tool list for all mechanical equipment required in the various workshops has been compiled with costs
•   The preliminary block plant layout is complete
•   The water demand and supply has been estimated and a trade off study will be completed to determine the best option
•   The water treatment plant and sewage treatment plants have been sized and are being designed and costed including all water/sewage storage tanks
•   A logistical study to determine costs and the best options regarding shipping and transportation to and from site and to and from Madagascar is currently underway
•   Environmental and socio-economic studies are ongoing by local company, AGETIPA.

Exploration To Date: Since acquiring the Green Giant Vanadium property located in Madagascar in August 2007, Energizer has spent over U.S.$10 million on exploration and developing the project. An extensive exploration program was conducted on the property that resulted in a 43-101 compliant resource:

•   131 diamond drill holes (21,957 metres) 
•   140 trenches (17,105 metres)
•   11,035 soil samples
•   airborne - 7,843 line kilometres flown
•   ground geophysics 
•   281 line kilometres of EM surveys 
•   589 line kilometres of MAG surveys

Status

•   The Company has put all Vanadium exploration and development activities on hold while it focuses its efforts on developing the Molo graphite deposit.
•   The Company believes strongly in the future off take potential for Vanadium.