Great Western Minerals Provides Corporate Update

SASKATOON, SK--(Marketwired - Jan 21, 2014) - Great Western Minerals Group Ltd. (TSX VENTURE: GWG) (OTCQX: GWMGF)

• Don R. Siemens appointed to the Board of Directors
• Bondholders approve Hoidas Lake Project joint venture
• CIBC retained as financial advisor

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 (the "Steenkampskraal Project" or "SKK"), today announced that Don R. Siemens was appointed as an independent director of GWMG, effective January 20, 2014. With Mr. Siemens appointment, the Company's Board of Directors now consists of six directors, including four independent directors. 

Robert Quinn, Chairman of the Board of GWMG, commented, "Don is a seasoned executive who adds a wealth of corporate finance experience to the Board. We believe he will be an extremely valuable resource to the Company going forward."

Mr. Siemens has more than 30 years of experience as a Chartered Accountant, including eight years in public practice as a partner with major accounting firms. He also has extensive experience in senior executive positions and has served on a number of public boards. He currently is a financial advisor specializing in corporate finance, reorganizations and mergers and acquisitions. 

Marc LeVier, Company President and CEO, noted, "Over the past year we further defined our objectives and have made measurable progress toward our vertical integration strategy. We believe our world-class manufacturing service operation at LCM and the SKK project have significant long-term potential and today's announcements further support our plan as we move forward." 

Bondholders overwhelmingly support Company decision to focus resources on core SKK project with approval of the Hoidas Lake Project joint venture

On January 20, 2014, a special meeting of holders of the $90.0 million secured convertible bonds was held to consider the Hoidas Lake Project joint venture agreement dated effective December 3, 2013 between the Company and Star Minerals Group Ltd (TSX VENTURE: SUV) ("Star"). 71.5% of the outstanding bonds were represented at the meeting, 100% of which were voted in favor of approving the joint venture.