Great Western Minerals Signs Agreement With Rare Earth Extraction

- March 5th, 2010

Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) and Rare Earth Extraction Co. Ltd. of Stellenbosch reported that they have entered into an exclusivity agreement that allows both companies to continue to move forward on their plans to jointly bring the former operating Steenkampskraal Mine back into production.

Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) and Rare Earth Extraction Co. Ltd. of Stellenbosch reported that they have entered into an exclusivity agreement that allows both companies to continue to move forward on their plans to jointly bring the former operating Steenkampskraal Mine back into production.

The press release is quoted as saying:

The Company is pleased to report that, pursuant to the terms of the original Option, both parties are advancing a working draft of the Supply Agreement contemplated in the Option. Under the terms of the Supply Agreement, GWMG would obtain the right to purchase 100% of the rare earth products recovered from the mining and processing of the Steenkampskraal ore.

Click here to access the entire press release

Click here to access Great Western Minerals Corporate Site

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