Great Western Minerals Group Announces Management Appointments
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 11/03/11 -- Great Western Minerals Group ('GWMG' or the 'Company') (TSX VENTURE: GWG)(OTCQX: GWMGF) is pleased to announce the appointment of David Kennedy to the position of Chief Executive Officer of GWMG's 100%-owned subsidiary Rare Earth Extraction Co. Limited ('Rareco').
Mr. Kennedy, a co-founder of Less Common Metals ('LCM') in 1992, has served as GWMG's Managing Director, Metals and Alloys, since the Company acquired LCM in 2008. He is a graduate in Metallurgy, a Chartered Engineer and is a Professional Member of the Institute of Materials, Minerals and Mining.
In his role as CEO of Rareco, Mr. Kennedy, who remains a Director of GWMG, will have overall responsibility for the development, commissioning and operation of GWMG's Steenkampskraal rare earth mining operation.
GWMG is also pleased to announce the appointment of Ian Higgins to the position of Managing Director, Metals and Alloys, with overall responsibility for LCM and Great Western Technologies Inc. Dr. Higgins, who holds a Ph. D. in Materials Science, is a highly experienced rare earth technical expert who joined LCM in 2001. He has been responsible for the day-to-day operations of LCM as well as procurement of rare earth materials from China.
Additionally, GWMG is pleased to announce the appointment of David Murphy as Commercial Director of LCM. Mr. Murphy, who has over thirty years of experience in the rare earths sector with LCM, and previously with Johnson Matthey Rare Earth Products where he was General Manager, is responsible for sales, marketing and customer support at LCM.
All appointments are effective immediately.
GWMG President and Chief Executive Officer Jim Engdahl said, 'These appointments significantly strengthen our management team and our corporate structure. The appointment of David Kennedy as CEO of Rareco means that our South African operations will be guided by one of the most highly experienced people in the global rare earth industry. Mr. Kennedy's background will serve Rareco exceptionally well as he focuses on the Steenkampskraal operation as a future supply source for our alloy processing operations. The appointment of Mr. Kennedy as the CEO of Rareco was facilitated by the extensive experience of Ian Higgins and David Murphy as they assume positions of greater responsibility with LCM.'
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 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.
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.
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 refurbishment activities and reliance on third parties to meet projected timelines, the results of the exploration program, a resource estimate and commencement of production at Steenkampskraal, satisfaction of the conditions precedent with respect to GWMG's offtake agreement, 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.
CUSIP: 39141Y 10 3
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Contacts:
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca