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Last updated on April 25, 2014 at 1:22 EDT

Great Western Minerals Appoints Thomas G. Mair as Vice President of Finance and CFO

July 2, 2013

Company also names Pieter de Jager as Financial Director at Rare Earth
Extraction Co. Limited

SASKATOON, SK, July 2, 2013 /PRNewswire/ – Great Western Minerals Group Ltd.
(“GWMG” or the “Company”) (TSX.V: GWG / OTCQX: GWMGF), a leader in the
manufacture and supply of rare earth-based metal alloys and high purity
metals with a low cost, high-grade critical rare earth asset (the
“Steenkampskraal Project” or “SKK”), today announced that Thomas G.
Mair was appointed Vice President of Finance and Chief Financial
Officer effective July 8, 2013. Mr. Mair, who most recently was
President and CEO and a board member at Golden Star Resources Ltd.
(NYSE MKT: GSS / TSX: GSC / GSE: GSR), succeeds James G. Davidson, who
will be retiring.  Mr. Davidson will be staying with the Company for at
least the next 90 days for the transition.

“Tom has nearly 30 years of progressive international business
experience in the natural resources industry,” stated Marc LeVier,
President and CEO.  “His vast experience and leadership in financial
management will be invaluable to GWMG as we progress the development of
our vertical integration strategy with the advancement of SKK and
expansion of our manufacturing services.”

Mr. Mair joined Golden Star Resources as Chief Financial Officer in
2007.  Previously, he was at Newmont Mining Corporation in a number of
key roles, including Director, Business Process Improvement; Group
Financial Executive at Minera Yanacocha, Peru; Regional Controller at
Winnemucca, Nevada; and President-Director of PT Newmont Minahasa Raya,
Indonesia.  Mr. Mair is a graduate of Queens’s University with an MBA
in Finance.  He is also a Certified Management Accountant.

Mr. LeVier added, “We thank Jim for his contributions to GWMG and wish
him well in his retirement.”

Mr. Mair’s appointment is subject to the approval of the TSX Venture
Exchange.

GWMG further strengthens management and financial controls at SKK

Rare Earth Extraction Co. Limited (“Rareco”) is a subsidiary of GWMG and
whose primary asset is the Steenkampskraal Project.  Pieter de Jager,
who has been with Rareco on a part-time basis, assumed the Financial
Director’s position in a full-time capacity effective July 1, 2013 to
strengthen the accounting controls and overall financial management.

Mr. de Jager has more than 15 years experience in financial management
and, most recently, was the Group Chief Financial Officer at Andulela
Investment Holdings Limited, a diversified investment holding company
with investments in mining and steel processing.  Mr. de Jager also has
significant mining and exploration experience in Africa.  He earned a
post graduate B.Compt Honours in Accounting degree with a Certificate
in the Theory of Accounting from the University of South Africa and an
MBA from the University of Pretoria’s Gordon Institute of Business
Science.

About GWMG

Great Western Minerals Group Ltd. is a leader in the manufacture and
supply of rare earth-based alloys and high purity metals with a low
cost, high-grade critical rare earth asset.  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 other 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 the project at Steenkampskraal, GWMG
also holds interests in four rare earth exploration and development
properties in North America.

The company routinely posts news and other information on its website at
www.gwmg.ca.

Neither the 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.

Cautionary Statement

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 assumptions and estimates in the preliminary economic assessment
of the Steenkampskraal project proving to be accurate over time; the
construction, commissioning and operation of the proposed monazite
processing facility and separation facility within  estimated
parameters; 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, including those estimated in
the preliminary economic assessment of the Steenkampskraal project;
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 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.


Source: PR Newswire