GREAT WESTERN MINERALS GROUP CEO SCHEDULED TO ADDRESS RARE EARTH ISSUES ON BNN
December 29, 2011 - Saskatoon, Canada: Great Western Minerals Group Ltd. ("GWMG" or the "Company", TSX:V- GWG) is pleased to announce that GWMG's President and Chief Executive Officer, Jim Engdahl, is scheduled to appear on the Business News Network ("BNN") Commodities (Show at 11:30 a.m. EST today, Thursday, December
29, 2011.
The scheduled topics for the BNN interview include the impact of the rare earth export quotas recently announced by the Government of China as well as a corporate update on GWMG.
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals
Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG also holds
100% equity ownership in Rare Earth Extraction Co. Limited, which owns a 74% equity interest in the Steenkampskraal Mine. In addition to an exploration program at Steenkampskraal, GWMG also holds interests in four active Rare Earth exploration and development properties in North America.
For further information, please contact Dwight Percy, Manager of Investor Relations at (306) 659-4500. Email inquiries should be made to info@gwmg.caand the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 219 Robin Crescent, Saskatoon, SK S7L 6M8.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set out in this News Release constitutes
forward-looking information. Forward-looking statements
(often, but not always, identified by the use of words such
as "expect", "may", "could",
"anticipate" or "will" and similar
expressions) may describe expectations, opinions or guidance
that are not statements of fact and which may be based upon
information provided by third parties. Forward-looking
statements are based upon the opinions, expectations and
estimates of management of GWMG as at the date the statements
are made and are subject to a variety of known and unknown
risks and uncertainties and other factors that could cause
actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements.
Those factors include, but are not limited to refurbishment
activities and reliance on third parties to meet projected
timelines, the results of the exploration program at
Steenkampskraal, a resource estimate and commencement of
production at Steenkampskraal, satisfaction of the conditions
precedent with respect to GWMG's offtake agreement,
receipt of all required approvals (including those relating
to the commencement of production at the Steenkampskraal
mine) and risks, uncertainties and other factors that are
beyond the control of GWMG, risks associated with the
industry in general, commodity prices and exchange rate
changes,
operational risks associated
with exploration, development and production operations,
delays or changes in plans, risks associated with the
uncertainty of reserve or resource estimates, health and
safety risks and the uncertainty of estimates and projections
of production, costs and expenses. In light of the risks and
uncertainties associated with forward-looking statements,
readers are cautioned not to place undue reliance upon
forward-looking information. Although GWMG believes that the
expectations reflected in the forward-looking statements set
out in this press release or incorporated herein by reference
are reasonable, it can give no assurance that such
expectations will prove to have been correct. The
forward-looking statements of GWMG contained in this News
Release, or incorporated herein by reference, are expressly
qualified, in their entirety, by this cautionary statement
and the risk factors contained in GWMG's current annual
information form available at www.sedar.com.
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