TSX Venture Symbol: GWG
OTCQX: GWMGF
CUSIP: 39141Y 10 3
SASKATOON, Oct. 9, 2012 /PRNewswire/ - Great Western Minerals Group Ltd. ("GWMG" or the "Company", TSX:V - GWG) is pleased to announce management appointments that will play a key role in the Company's continued progress at its Steenkampskraal rare earth project in South Africa.
Victor Fitzmaurice is appointed to the position of Operations General Manager with GWMG's wholly owned subsidiary, Rare Earth Extraction Co. Limited ("Rareco"). Reporting directly to the Chief Executive Officer of Rareco, Mr. Fitzmaurice is responsible for all development stages in moving Steenkampskraal toward production. He will then assume overall responsibility for day-to-day management of the rare earth mining, chloride production and separation operations located at and near Steenkampskraal.
Mr. Fitzmaurice is a Professional Engineer, holds a B.Sc. in Engineering (Mining) along with a Graduate Diploma in Engineering (Mining, Engineering and Mineral Economics) from the University of Witwatersrand, and is currently working toward a M.Sc. in Mining Engineering. He is a member of the Engineering Council of South Africa, the South African Institute of Mining and Metallurgy 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 Gulf Mining and Exploration, AIM Resources Africa and De Beers.
Andreas Muntingh is appointed to the position of Mine Geologist where he is responsible for executing all geology related development, production and exploration activities at the Steenkampskraal mine site. Reporting directly to the Steenkampskraal Mine Manager, Mr. Muntingh will also assist in the design, implementation and execution of the Steenkampskraal regional exploration project.
Mr. Muntingh holds a B.Sc. (Hons.) in Geology from the University of Stellenbosch and a Masters of Business Administration from North-West University. His experience in exploration and mining geology has been gained in Australia and South Africa. Proficient in Afrikaans and English, he has previously worked in senior geological positions with companies that include Platinum Australia, Energem Resources and Trans Hex Operations.
Interim President and Chief Executive Officer Robert Quinn said, "The ability of GWMG to attract such high calibre management personnel to lead and manage our Steenkampskraal operation speaks very favorably about the potential of our project. Mr. Fitzmaurice and Mr. Muntingh are welcome additions to our Steenkampskraal team and we look forward to their significant contribution to the success of GWMG as it continues to execute its corporate goal of being a fully integrated rare earth producer."
Great Western Minerals Group Ltd. is an integrated rare earth processor. Its specialty alloys are used in the magnet, battery, defense 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 aluminum, 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 of its preliminary economic assessment and its results, 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 reserve or 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 annual information form available at www.sedar.com.
SOURCE Great Western Minerals Group Ltd.