Great Western Minerals Group Amends Stock Option Plan
April 18 2011 - 6:53PM
Marketwired
Great Western Minerals Group Ltd. ("GWMG" or the "Company"), (TSX
VENTURE: GWG) (OTCQX: GWMGF) announces that has amended its stock
option plan to reflect recent regulatory changes and to implement
non-material housekeeping changes.
In accordance with the provisions of GWMG's existing stock
option plan (the "Option Plan") and pursuant to the policies of the
TSX Venture Exchange, GWMG has implemented certain amendments to
its Option Plan to address new withholding tax requirements which
came into force in 2011. In addition, GWMG has amended the Option
Plan to allow for the automatic extension of stock options that
expire during a "blackout" period and to implement other
non-material changes. Readers may review the amended Option Plan at
www.sedar.com.
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
92.6% ownership in Rare Earth Extraction Co. Limited, the owner of
the Steenkampskraal mine. In addition to a planned exploration
program at Steenkampskraal, GWMG also holds interests in six 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 and a NI- 43-10 resource estimate at
Steenkampskraal, 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 (306) 659-4500 Great Western Minerals Group
Ltd. 219 Robin Crescent Saskatoon, SK S7L 6M8 info@gwmg.ca
www.gwmg.ca
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