Great Western Minerals Group Added to Russell Global Index; Ranks in Top 3% in Canadian Business Magazine Resource Index
June 29 2011 - 10:41AM
Marketwired
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 www.sedar.com.
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.
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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