TopDollar Investing

[Slimer84]

Great Western Minerals Group Names Appointee to Rare Earth Extraction Co. Ltd. Board of Directors
Great Western Minerals Group Names Appointee to Rare Earth Extraction Co. Ltd. Board of Directors
Oct. 27, 2010 (Marketwire) --

SASKATOON, SASKATCHEWAN -- (Marketwire) -- 10/27/10 -- Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) announces the appointment of its representative, Mohamed Madhi, to the Board of Directors of Rare Earth Extraction Co. Ltd. ("Rareco").

Mohamed Madhi, a member of the GWMG Advisory Board and an integral part of GWMG's international team of Rare Earths experts, has been appointed to the Rareco Board of Directors at the request of GWMG.

Mr. Madhi has been Chairman of Areva South Africa and the Chief Executive of Safika Resources, a South African company focused on mineral exploration and mining. Mr. Madhi has also held executive positions at the Council for Scientific and Industrial Research, the largest research organization in Africa, at Eskom, the largest electricity utility in Africa, and at Harmony Gold, one of the world's largest gold mining companies.

"Having GWMG represented by someone with Mohamed Madhi's experience in the African resource sector means that our company's interests and our shareholders' interests will be advanced at the highest level," said GWMG President and Chief Executive Officer Jim Engdahl. "Mr. Madhi's appointment to the Rareco Board of Directors is another significant step forward in the execution of our corporate strategy of becoming a fully integrated Rare Earths producer."

"In addition to serving on the Rareco Board of Directors on behalf of GWMG, Mr. Madhi has agreed to commit additional time and provide oversight in the advancement of GWMG's interests on the Steenkampskraal project," added Mr. Engdahl. "This level of involvement should serve to underscore GWMG's focus on the timely execution of its full integration strategy."

Jim Engdahl, President and CEO

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 has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 20.8% ownership in Rare Earth Extraction Co. Ltd, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.

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 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.

CUSIP: 39141Y 10 3

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.

Contacts:
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
[phone]
[e-mail]
www.gwmg.ca

Great Western Minerals Group Ltd.
219 Robin Crescent
Saskatoon, SK S7L 6M8






Source: Marketwire (October 27, 2010 - 9:30 AM EDT)

News by QuoteMedia
www.quotemedia.com