Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd.

October 22, 2009 06:00 ET

Great Western Minerals Group Engages Barr Engineering to Update Hoidas Lake Technical Report

SASKATOON, SASKATCHEWAN--(Marketwire - Oct. 22, 2009) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) is pleased to announce it has engaged Barr Engineering Company ("Barr") of Minneapolis Minnesota to update the 43-101 Technical Report for the Company's Hoidas Lake Project.

Barr is an employee-owned engineering and environmental consulting company involved with the development, management, and restoration of natural resources. With more than 40 years of experience Barr has been involved in solving a wide range of challenges faced by the mining and mineral processing industry, primarily in North and South America. 

Under the scope of this contract, Barr will update the resource estimate for the Company's Hoidas Lake project, incorporating the results of the Company's drilling program which was completed in the spring of 2008 on the JAK Zone.

A total of 6,836 m was drilled in 32 holes to depths of 300 metres. The JAK Zone Vein System has been extended by 250 m to 1,000 metres and remains open along strike and at depth. The drilling also extended the zone to a depth of 300 m; previously, this zone had been tested only to a depth of 150 m. Preliminary indications are that the extensions of the previously drilled veins show similar mineralization to that previously identified in the JAK Zone and are expected to have similar grades. 

John Pearson, MSc., P.Geo., Vice-President Exploration for GWMG, is the qualified person responsible for reviewing the contents of this news release.

Jim Engdahl, President and CEO of Great Western Minerals Group said "We are pleased to be able to get back on track more aggressively with our exploration activities, particularly on our Hoidas Lake project. As we noted in previous releases, our objective was to double the resource estimate for this project and this update could move us significantly down the road to doing that. What we still find exciting is the fact that our drilling programs to date only cover about 1,000 metres of strike and indications show it is open in all directions."

About Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.

Certain information set out in this News Release constitutes forward-looking information, which may include information relating to estimates of sales and revenue of GWMG. 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 the Company 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 risks, uncertainties and other factors that are beyond the control of the Company, 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 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 the Company 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 the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Great Western Minerals Group Ltd.
    Ron Malashewski
    Manager of Investor Relations
    (306) 659-4516
    Great Western Minerals Group Ltd.
    226 Cardinal Crescent
    Saskatoon, SK S7L 6H8