Great Western Minerals Group announces Steenkampsteenkkraal rare
earth project management changes
TSX Venture Symbol: GWG
CUSIP: 39141Y 10 3
OTCQX: GWMGF
SASKATOON, March 5, 2013 /PRNewswire/
- Great Western Minerals Group Ltd.
("GWMG" or the "Company", TSX:V - GWG) is pleased to announce
the
promotion of Vic Fitzmaurice to the
position of Steenkampskraal
Managing Director with GWMG's wholly owned subsidiary, Rare
Earth
Extraction Co. Limited ("Rareco") of South Africa.
Mr. Fitzmaurice's responsibilities include the refurbishment of
the
Steenkampskraal mine site as well as the development of mixed
chloride
production and rare earth solvent extraction separation
capabilities.
He reports directly to GWMG President and Chief Executive Officer
Marc
LeVier.
In his position as Managing Director he also assumes the leadership
role
with GWMG's owner's representative team that is being assembled to
deal
with all major contractors. Mr. Fitzmaurice is using his
extensive
contact base and strong reputation within the South African
mining
industry to assemble a highly qualified owner's representative
team
that thoroughly understands the Steenkampskraal project as well as
the
regulatory and social impact environments.
Mr. Fitzmaurice, who has held the position of Steenkampskraal
Operations
General Manager since October 2012,
is a Professional Engineer who
holds a B.Sc. in Engineering (Mining) along with a Graduate Diploma
in
Engineering (Mining, Engineering and Mineral Economics) from
the
University of Witwatersrand. He is a member of the Engineering
Council
of South Africa, the South African
Institute of Mining and Metallurgy,
the Institute of Directors of South
Africa and the Association of Mine
Managers of South Africa. His
significant experience in senior mining
positions throughout Africa,
Europe and Asia has been with companies
that include Aquarius Platinum and De Beers.
GWMG is also pleased to announce the appointment of Chris Neser to the
position of Senior Project Manager with Rareco. Mr. Neser has
extensive
international experience with the development of integrated
mineral
beneficiation projects. His previous project work includes
automation
of metallurgical plants, process selection, optimization,
construction,
process commissioning, and production cost modelling and
control.
Mr. Neser holds a Masters in Business Leadership from University
of
South Africa and a B.Sc. in
Electrical Engineering from the University
of Cape Town. His international
experience includes the Sunkar
phosphate project in Kazakhstan,
Jordan Phosphate Mines, Maaden in
Saudi Arabia and the Foskor Group
of South Africa. He reports
directly
to Managing Director Vic
Fitzmaurice.
GWMG President and Chief Executive Officer Marc LeVier said, "The
promotion of Mr. Fitzmaurice and the appointment of Mr. Neser to
the
Rareco team are significant steps forward for our Company because
both
individuals have very extensive mining and mine development
experience.
They will be integral to the success of our Company in advancing
the
Steenkampskraal project on a timely and cost effective
basis."
Additionally, GWMG today announces the resignation of David Kennedy from
the position of Chief Executive Officer of Rareco. He will continue
his
involvement with GWMG as a member of the Company's board of
directors
and an advisor to CEO Marc
LeVier
GWMG President and Chief Executive Officer Marc LeVier said, "We
sincerely thank Mr. Kennedy for his years of service, first at
Less
Common Metals and subsequently with the Steenkampskraal project.
His
extensive background in the rare earth business has been important
to
our strategy of positioning GWMG to become a fully integrated
rare
earth producer. Mr. Kennedy's contribution through the development
of a
highly skilled team at Less Common Metals is greatly appreciated.
We
are pleased that he will continue his involvement with GWMG as a
member
of the Company's board of directors and an advisor to the
CEO."
Great Western Minerals Group Ltd. is engaged in becoming an
integrated
rare earth producer. 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 Ellesmere Port, U.K.
and
Great Western Technologies Inc. in Troy,
Michigan, these alloys contain
transition metals including nickel, cobalt, iron 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 controls the Steenkampskraal Monazite Mine. In addition to
an
exploration program at Steenkampskraal, GWMG also holds interests
in
four 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, risks associated with the uncertainty of resource estimates,
in
particular those relating to Inferred resources; risks relating
to
estimating grades, in particular where interpolation is used to
estimate grades; 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 and mine refurbishment activities;
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; 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;
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; 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.