Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd.

June 29, 2011 10:39 ET

Great Western Minerals Group Added to Russell Global Index; Ranks in Top 3% in Canadian Business Magazine Resource Index

SASKATOON, SASKATCHEWAN--(Marketwire - June 29, 2011) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) was added to the Russell Global Index when Russell Investments reconstituted its comprehensive set of global equity indexes on June 24, 2011.

Membership in the Russell Global Index, which remains in place for one year, is widely used by investment managers and institutional investors for index funds and as benchmarks. US$3.9 trillion in institutional assets currently are benchmarked to the Russell Global Fund.

Earlier in June, GWMG was also recognized as one of the best performing stocks in the Canadian resource sector being ranked 14th best in year-over-year return (as at April 1) of 300 small cap companies listed in Canadian Business magazine.

Within the full list of 500 companies of all market cap sizes in the "Investor 500 Overview" , GWMG still ranked near the top, in 15th place with a year-over-year return of 341.0%.

"The inclusion of GWMG in the Russell Global Index is one more indicator that our Company is accelerating its market recognition as it executes its business plan to move into Rare Earth production by early 2013," said GWMG President and Chief Executive Officer Jim Engdahl. "As well, being ranked in the top 3% of 500 companies by Canadian Business magazine illustrates the value GWMG, as part of the Rare Earth sector, has delivered."

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 holds 93.1% equity ownership in Rare Earth Extraction Co. Limited, the owner of the formerly producing Steenkampskraal Mine in South Africa. In addition to a planned exploration program at Steenkampskraal, GWMG also holds interests in five 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, the results of the exploration program, a resource estimate and commencement of production at Steenkampskraal, 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

GWG 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.

Contact Information

  • Great Western Minerals Group Ltd.,
    Dwight Percy
    Manager of Investor Relations
    (306) 659-4500

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