GREAT WESTERN MINERALS GROUP APPOINTS CHIEF EXECUTIVE OFFICER
January 09 2013 - 9:34AM
OTC Markets
GREAT WESTERN MINERALS GROUP
LTD.
TSX Venture Symbol: GWG
CUSIP: 39141Y 10 3
OTCQX: GWMGF
GREAT WESTERN MINERALS GROUP APPOINTS CHIEF
EXECUTIVE OFFICER
January 9, 2013 - Saskatoon,
Canada: Great Western
Minerals Group Ltd. ("GWMG" or the "Company", TSX:V – GWG) today
announced it has appointed Marc LeVier to the position of President
and Chief Executive Officer, subject to regulatory approval. The
appointment is effective immediately.
Mr. LeVier, who
joined the Board of Directors of GWMG in late 2012 (see: GWMG news release December 18,
2012), has been actively involved in an oversight role with
the finalization of the Preliminary Economic Assessment (“PEA”) and
the continued development of the Company’s Steenkampskraal
project.
Mr.
LeVier has been President and Chief Executive Officer as well as a
Director of Texas Rare Earth Resources Corp. where he oversaw the
completion of a PEA, established the strategic direction for that
company and created a culture of innovation and accountability.
Prior to that, he spent over twenty years with Newmont Mining
Corporation in senior metallurgical and management positions
including General Manager of the Zarafshan/Newmont joint venture
and Senior Director, Metallurgical Research and Development. During
his tenure with Newmont, Mr. LeVier played a leadership role in the
successful start-up of operations of new properties and led
multi-disciplinary teams in the development of new technologies for
hydrometallurgical, chemical and engineering design
processes.
Mr. LeVier holds a
Bachelor of Science in Metallurgical Engineering as well as a
Master of Science degree in Metallurgical Engineering, both from
Michigan Technological University in Houghton,
Michigan.
His professional
affiliations and certifications include membership in the Society
of Mining, Metallurgy and Exploration as well as the Mining and
Metallurgical Society of America.
GWMG Interim
President and Chief Executive Officer Robert Quinn said, “GWMG is
exceptionally pleased to announce the appointment of a CEO with
such significant mining industry expertise and commitment to our
Company. His oversight role in the development of the PEA means he
is intimately familiar with GWMG’s fully integrated business model
and by virtue of moving into the CEO role immediately he will take
a lead role in the communication of the results of the PEA,
positioning GWMG to move quickly on the execution its strategic
plan.”
Great Western Minerals
Group Ltd. is engaged in becoming an integrated rare earth
producer. The Company currently produces specialty alloys which are
used in the aerospace,
automobile, computer and high-tech 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 iron, 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 South Africa. In addition to an exploration program at
Steenkampskraal, GWMG also holds interests in four active rare
earth exploration and development properties in North
America.
For
further information, please contact Dwight Percy, Manager of
Investor Relations at (306) 659-4516. Email inquiries should be
made to info@gwmg.ca and the company website is located at
www.gwmg.ca. Inquiries by direct mail should be addressed to Great
Western Minerals Group Ltd., 219 Robin Crescent, Saskatoon, SK S7L
6M8.
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 its preliminary economic assessment at Hoidas
Lake; the successful and timely completion and the results of its
preliminary economic assessment of the Steenkampskraal project, 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
and 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 Canada,
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 resource
estimates; health and safety risks; uncertainty of estimates and
projections of production, costs and expenses; risks that future
Hoidas Lake or 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 Canada and South
Africa, radioactivity and related issues, dependence on one mineral
project; loss of, and the inability to attract, 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
Professional Securities Market listing particulars available at
www.sedar.com.
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