Great Western Minerals Group Ltd.
TSX VENTURE : GWG
PINK SHEETS : GWMGF

Great Western Minerals Group Ltd.

June 16, 2010 08:19 ET

Great Western Minerals Group Grants Options

SASKATOON, SASKATCHEWAN--(Marketwire - June 16, 2010) - Great Western Minerals Group ("GWMG" or the "Company") (TSX VENTURE:GWG)(OTCQX:GWMGF)(PINK SHEETS:GWMGF) reports that, subject to regulatory approval, it has granted to officers, directors, consultants and employees an aggregate of 3,250,000 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 $0.20 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.

Jim Engdahl, President and CEO

Great Western Minerals Group Ltd. is an integrated Rare Earths producer. 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, UK and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminum, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG holds an option with respect to the former Rare Earths producing Steenkampskraal mine in South Africa as well as 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 the satisfaction by GWMG of the conditions required to exercise the option, receipt of all required approvals 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 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.

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
    info@gwmg.ca
    www.gwmg.ca
    or
    Great Western Minerals Group Ltd.
    226 Cardinal Crescent
    Saskatoon, SK S7L 6H8