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.
