TSX Venture Symbol: GWG
CUSIP: 39141Y 10 3
OTCQX: GWMGF
SASKATOON, Jan. 9, 2013 /PRNewswire/
- 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.
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.
SOURCE Great Western Minerals Group Ltd.