Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX
VENTURE:GWG)(OTCQX:GWMGF) announces that it has, through its wholly owned
subsidiary Less Common Metals Limited ("LCM"), signed a long term Co-operation
Agreement with Aichi Steel Corporation ("ASC") of Japan. ASC is a part of the
Toyota Group of Companies.


LCM is a producer of Rare Earth metals and alloys to the worldwide magnet
industry. It has been supplying ASC with neodymium iron boron ("NdFeB") alloys
for more than 10 years. The alloys supplied have been consumed in the "MagFine"
(TM) facility of ASC where they have been used to manufacture an anisotropic
magnet powder capable of producing the world's most powerful bonded magnets. To
date more than 20 million magnets have been produced and successfully applied in
components that combine drastic reductions in weight with high power efficiency
for automotive and other applications.


ASC is a speciality steel producer with an electromagnetic division aimed at the
development of new and proprietary magnetic materials. Within this division is
the "MagFine" business which is undergoing a rapid expansion program, causing a
doubling of the size of its current production facility in Seki, Japan. The Seki
plant provides all the powder to the "MagFine" manufacturing sites which are
located in Japan, Czech Republic, Korea and China. With further expansion
planned throughout the world ASC expects volumes to grow significantly over the
coming years.


Dr. Y. Honkura, Senior Managing Director at ASC, stated, "Given our ambitious
plans for the expansion of our "MagFine" product, it will be critical, for us
and our customers, to secure a reliable, non-Chinese source of Rare Earths and
alloys on whom we can rely to supply the majority of our alloy requirements long
into the future. GWMG will be a key factor in providing this security via its
mine at Steenkampskraal in South Africa and its LCM facility in the United
Kingdom. The signing of this Co-operation Agreement ensures ASC will benefit
from a long term supply commitment securing alloy of the very highest quality
for years to come."


The Co-operation Agreement allows for the long term supply of NdFeB alloys
produced by LCM using Rare Earth oxides to be produced at the Steenkampskraal
mine in South Africa. A doubling of the planned capacity at LCM is currently
underway as the first phase of expansion to facilitate near term demand from
ASC. A further phased expansion program has already been designed to accommodate
the projected expansion of ASC alloy demand in future.


Jim Engdahl, CEO of GWMG said, "There has been a long term relationship between
our companies and it is reassuring to know that ASC of the Toyota Motor Group
will provide the cornerstone of demand for our Rare Earth products over the
coming years. This Co-operation Agreement ensures a guaranteed market for an
important segment of the Rare Earth alloys we produce. It also provides a level
of stability to our Company that enables us to evaluate the expansion of our
planned operations at Steenkampskraal in expectation of increasing demand".


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 3