Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd.

November 09, 2009 22:27 ET

Great Western Minerals Group Grants Options

SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 9, 2009) - Great Western Minerals Group (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) reports that, subject to regulatory approval, it has granted to officers, directors, consultants and all employees an aggregate of 7,825,000 options to acquire common shares of the Company. The options are exercisable into common shares of Great Western Minerals Group Ltd. at a price of $0.35 per share for a period of five years from the date of grant. This option program was approved by shareholders at the Company's annual general meeting held on September 10, 2009.

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.

Jim Engdahl, President

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.
    Ron Malashewski
    Manager of Investor Relations
    (306) 659-4500
    Great Western Minerals Group Ltd.
    226 Cardinal Crescent,
    Saskatoon, SK S7L 6H8