Great Western Minerals Posts New Technical Report With Mineral Resource Estimate for Steenkampskraal Rare Earth Project on SEDAR

SASKATOON, SK--(Marketwired - Dec 20, 2013) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF), a leader in the manufacture and supply of rare earth element-based metals and metal alloys and holder of a low cost, high-grade critical rare earth asset, today announced that its new NI 43-101 compliant technical report and mineral resource estimate ("MRE") for the Steenkampskraal rare earth project ("SKK") was filed and is available under the Company's SEDAR profile at www.sedar.com. There has been no material change to the MRE highlights that were previously disclosed on November 12, 2013, other than in respect of database information described in Section 1.3 and Table 1.9 of the MRE. 

"We continue to progress well with our SKK feasibility study," stated Marc LeVier, Company President and CEO. "The new mineral resource estimate, which has been significantly upgraded from the previous estimate, and an optimized flow sheet scheme that is nearing completion will be used as the basis for the Company's feasibility study." 

The October 2013 MRE for the SKK project was prepared by Snowden Mining Industry Consultants Inc. ("Snowden") and is dated effective October 31, 2013.

A preliminary economic assessment ("PEA") report was completed in March 2012 and filed by GWMG on SEDAR on May 1, 2013. The PEA was based on the December 2012 MRE and its supporting documentation as at the final effective date of December 15, 2012. Relevant portions of the PEA are included in the current technical report as it is Snowden's opinion that the results of such are still valid except as described in the current technical report. The changes to the Mineral Resource from the December 2012 MRE reflect an increase in tonnes, an increase in the confidence in the estimate and subsequent improvement in the classification of the Mineral Resource. It is anticipated that certain of the information reproduced from the PEA and contained in the current technical report will be updated as part of the ongoing feasibility study by the Company. The feasibility study will undertake detailed mining and other techno-economic studies based on the October 2013 MRE.