TSX Venture Symbol: GWG
OTCQX: GWMGF
CUSIP: 39141Y 10 3
SASKATOON, Canada,
Aug. 14, 2012 /PRNewswire/ - Great
Western Minerals Group Ltd. ("GWMG" or the "Company") (TSXV: GWG)
today announced management appointments and changes, the
resignation of a Company Director, and the date of the next CEO
Conference Call.
Vernon J. Kiss
has been appointed Senior Vice-President, Business and Corporate
Development. Mr. Kiss has held the role of Vice-President,
Corporate Development and Strategic Initiatives (see GWMG news
release January 5, 2012) since
joining the Company.
Michael Der,
Vice-President, Corporate and Legal Affairs, and General Counsel,
has assumed responsibilities as Corporate Secretary for GWMG. He
replaces Elizabeth Nash as Corporate
Secretary (see GWMG news release June 8,
2011). Ms. Nash continues to provide legal services to
the Company.
The Company announces that Robby Gilmore has resigned as a member of the
Board of Directors of GWMG (see GWMG news release March 14, 2012). The Company thanks Mr.
Gilmore for his service during an important phase of GWMG's
development.
GWMG announces that Vincent Mora, who has been its Steenkampskraal
Project Director, is no longer performing these duties.
Steenkampskraal project management continues to be provided by Rare
Earth Extraction Co. Limited ("Rareco") CEO David Kennedy and Mine Manager Kwaw Kabaah, supported by Director of
International Exploration Brent
Jellicoe, GWMG Vice-President of Operations Richard Hogan and the team of approximately 30
employees and contractors at Steenkampskraal.
Kwaw Kabaah has been appointed as the third
member of the three-person Board of Trustees of the Steenkampskraal
Workers Trust. He joins Trevor Blench, Chairman of Rareco and
Gerrit Horne, an independent lawyer,
on the Workers Trust Board, under the Black Economic Empowerment
initiative.
GWMG will hold a CEO Conference Call at
10:00 a.m. (EST) on Wednesday, August 22, 2012. The Conference Call
will address the Company's progress across the full range of
corporate initiatives. Participants can call the following numbers
to register:
- 888-231-8191 (North America
toll free)
- 647-427-7450 (Local Toronto)
- 0-800-051-7107 (for United
Kingdom)
- 0-800-835-354 (for Switzerland)
- Passcode ID: 21005950
Great Western Minerals Group Ltd. is an
integrated rare earth 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 aluminum, nickel, cobalt and
Rare Earth Elements. As part of the Company's vertical integration
strategy, GWMG also holds 100% equity ownership in Rare Earth
Extraction Co. Limited, which owns a 74% equity interest in the
Steenkampskraal Mine. In addition to an exploration program at
Steenkampskraal, GWMG also holds interests in four active rare
earth exploration and development properties in North America.
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.
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 successful and
timely completion of the company's preliminary economic assessment
and its results, the construction, commissioning and operation of
the proposed monazite processing facility and separation facility,
mine refurbishment activities, reliance on third parties to meet
projected timelines, commencement of production at Steenkampskraal,
risks related to the receipt of all required approvals including
those relating to the commencement of production at the
Steenkampskraal mine, delays in obtaining permits, licenses and
operating authorities in South
Africa and China,
environmental matters, water and land use risks, 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, uncertainty of estimates and projections
of production, costs and expenses, risks that future
Steenkampskraal and region exploration results may not meet
exploration or corporate objectives, the adequacy of the Company's
financial resources and the availability of additional cash from
operations or from financing on reasonable terms or at all,
political risks inherent in South
Africa and China, risks
associated with the relationship between GWMG and/or its
subsidiaries and communities and governments in South Africa, radioactivity and related
issues, dependence on one mineral project, loss of key personnel,
the factors discussed in the Company's public disclosure record,
and other factors that could cause actions, events or results not
to be as anticipated. 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.
Except as required by law, GWMG does not assume any obligation to
update forward looking statements as set out in this news release.
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 annual information form available
at www.sedar.com.
SOURCE Great Western Minerals Group Ltd.