U.S. Markets closed

Great Western Minerals Group Receives Approvals From South African National Nuclear Regulator for Steenkampskraal Rare Earth Project

SASKATOON, SASKATCHEWAN--(Marketwire - 05/09/11) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX-V:GWG - News) (OTCQX: GWMGF) announces that it has received full approval for its work program, under the existing Nuclear Authorization for the Company's Steenkampskraal Rare Earths project, from the South African National Nuclear Regulator ("NNR").The approvals cover programs that include radiation protection, integrated waste management (including the long-term storage of radioactive material), and the transportation of radioactive material.These approvals enable GWMG to immediately commence the refurbishment of the former-producing mine site and to undertake an exploration project at site. Additionally, the approvals enable GWMG to develop a mineral resource estimate that is compliant with disclosure requirements as defined by the Canadian Securities Administrators National Instrument 43-101, utilizing available historic data.The Company filed the application with the NNR on November 1, 2010 with additional information provided April 7, 2011, and officially received the approvals on May 6, 2011."This is one of the most important milestones to date for the Steenkampskraal project," said GWMG President and Chief Executive Officer Jim Engdahl. "With these approvals in hand, our Company can immediately launch three vital project steps. Firstly, we have already sent out the tenders for the shaft refurbishment work and are now positioned to select the contractor who will commence work immediately. Secondly, we can select and deploy a drilling contractor for the exploration program at the Steenkampskraal site. And thirdly, with the ability to work underground, GWMG can move ahead very quickly to complete the work necessary to verify the available historic data and produce a NI 43-101 compliant technical report."The project steps facilitated by receipt of the NNR work program approval are on schedule with the fast track development program announced by GWMG on April 21, 2011. (See GWMG Media Release: Great Western Minerals Group Targets Earlier Dates and Increased Output at Steenkampskraal Rare Earth Project).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 to be produced at the former producing Steenkampskraal mine in South Africa and holds 92.6% equity ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. In addition to a planned exploration program at Steenkampskraal, GWMG also holds interests in six 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, 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 3Neither 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.