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Abstract
(Marketwire - Feb. 25, 2008) - Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") is pleased to provide an update of its "mine-to-market" strategy to become a fully integrated explorer and developer of rare earth elements ("REE'") and other strategic metals in North America.
Successful Financing: In December 2007, GWMG completed two non-brokered private placements for total gross proceeds of $4.3 million. GWMG now has approximately $5.5 million in working capital which will be used for the drilling program underway at Hoidas Lake, completion of the Preliminary Economic Assessment Report ("PEAR"), the development of the pilot plant, and exploration and development activities on the Deep Sands project in Utah.
Cautionary Statement on Forward-Looking Information: 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) are based upon the opinions, expectations and estimates of management of the Company 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. Readers are cautioned not to place undue reliance upon forward-looking information. Although the Company 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.