Great Western Minerals Group Corporate Update and CEO Conference Call Announcement

TSX Venture Symbol: GWG
OTCQX: GWMGF
CUSIP: 39141Y 10 3

SASKATOON, Canada, Aug. 14, 2012 /CNW/ - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSXV: GWG) today announced management appointments and changes, the resignation of a Company Director, and the date of the next CEO Conference Call.

Vernon J. Kiss has been appointed Senior Vice-President, Business and Corporate Development. Mr. Kiss has held the role of Vice-President, Corporate Development and Strategic Initiatives (see GWMG news release January 5, 2012) since joining the Company.

Michael Der, Vice-President, Corporate and Legal Affairs, and General Counsel, has assumed responsibilities as Corporate Secretary for GWMG. He replaces Elizabeth Nash as Corporate Secretary (see GWMG news release June 8, 2011). Ms. Nash continues to provide legal services to the Company.

The Company announces that Robby Gilmore has resigned as a member of the Board of Directors of GWMG (see GWMG news release March 14, 2012). The Company thanks Mr. Gilmore for his service during an important phase of GWMG's development.

GWMG announces that Vincent Mora, who has been its Steenkampskraal Project Director, is no longer performing these duties. Steenkampskraal project management continues to be provided by Rare Earth Extraction Co. Limited ("Rareco") CEO David Kennedy and Mine Manager Kwaw Kabaah, supported by Director of International Exploration Brent Jellicoe, GWMG Vice-President of Operations Richard Hogan and the team of approximately 30 employees and contractors at Steenkampskraal.

Kwaw Kabaah has been appointed as the third member of the three-person Board of Trustees of the Steenkampskraal Workers Trust. He joins Trevor Blench, Chairman of Rareco and Gerrit Horne, an independent lawyer, on the Workers Trust Board, under the Black Economic Empowerment initiative.

GWMG will hold a CEO Conference Call at 10:00 a.m. (EST) on Wednesday, August 22, 2012. The Conference Call will address the Company's progress across the full range of corporate initiatives. Participants can call the following numbers to register:

• 888-231-8191 (North America toll free)
• 647-427-7450 (Local Toronto)
• 0-800-051-7107 (for United Kingdom)
• 0-800-835-354 (for Switzerland)
• Passcode ID: 21005950

Great Western Minerals Group Ltd. is an integrated rare earth 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 aluminum, nickel, cobalt and 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 owns a 74% equity interest in the Steenkampskraal Mine. In addition to an exploration program at Steenkampskraal, GWMG also holds interests in four active rare earth exploration and development properties in North America.

Neither 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.

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 successful and timely completion of the company's preliminary economic assessment and its results, the construction, commissioning and operation of the proposed monazite processing facility and separation facility, mine refurbishment activities, reliance on third parties to meet projected timelines, 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 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, risks associated with the uncertainty of reserve or 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 South Africa, radioactivity and related issues, dependence on one mineral project, loss of 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.

For further information, please contact Dwight Percy, Manager of Investor Relations at [phone]. Email inquiries should be made to  [email protected] and the company website is located at www.gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 219 Robin Crescent, Saskatoon, SK S7L 6M8.