Great Western Minerals Group Appoints Kaz Machida to Advisory Board
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 10/28/10 -- Great Western Minerals Group Ltd. ('GWMG' or the 'Company') (TSX VENTURE: GWG) (OTCQX: GWMGF) announces that Kaz Machida has been appointed to the Company's Advisory Board.
Kaz Machida has worked with Itochu Corporation, an international trading and import/export company involved in multiple business sectors, headquartered in Japan, and operating in 74 countries. Mr. Machida has three decades of experience in business development in areas that include industrial salt, inorganic chemicals and industrial minerals. Since the early 1980's, he has been involved with the importation of Rare Earth oxides and metals, primarily from China, in the area of phosphors, magnets, glass, polishing powders, catalysts and ceramics. In the past decade, Mr. Machida has worked with Lynas Corporation and subsequently with his own company that is involved in the trading of Rare Earths oxides.
'Kaz Machida is a significant addition to GWMG's Advisory Board,' said GWMG President and Chief Executive Officer Jim Engdahl. 'His extensive experience and expertise in the Rare Earths and metals industries are a valuable addition to our Company as it becomes a fully integrated Rare Earths producer. In particular, his connections within the Japanese and Pacific Rim Rare Earths sector are strategically important to GWMG as has been evidenced through the work Mr. Machida has undertaken previously for our Company.'
'Mr. Machida's appointment to our Advisory Board provides additional depth to our corporate knowledge base within the Rare Earths sector at the importation and customer application level,' added Jim Engdahl. 'His exceptional market knowledge will continue to be of great benefit in Great Western Mineral Group's strategic development process.'
Jim Engdahl, President
About Great Western Minerals Group Ltd.
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 has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 20.8% ownership in Rare Earth Extraction Co. Ltd, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
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 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
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.
Contacts:
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca
Great Western Minerals Group Ltd.
219 Robin Crescent
Saskatoon, SK S7L 6M8