Now this is NEWS!
GREAT WESTERN MINERALS GROUP LTD.
TSX Venture Symbol: GWG CUSIP: 39141Y 10 3
USA OTC BB Symbol: GWMGF
March 20, 2003
NEWS RELEASE
RARE EARTH PROJECT FUNDING ARRANGED
Gary Billingsley, President, is pleased to report that the Company has arranged a financing for US$2 million with a third party repayment guarantee through the facilities of SBGA of Markham, Ontario.
A significant portion of the funds will be used to advance the Company’s 100%-owned Hoidas Lake rare earth project in northern Saskatchewan. Hoidas Lake is one of the world’s few major (in the top three), primary rare earth deposits. The rare earth elements are critical to many applications related to alternate energy technologies including fuel cells, rechargeable batteries, hydrogen storage, permanent magnet motors and advanced technology such as composites, nanotechnology, lasers, fiber optics and medical imaging. These technologies are key to the development of electric and electric-hybrid automobiles, power generation, and the next generation of hi-tech and medical industry applications. It is management’s goal to see Great Western Minerals Group Ltd. emerge as THE global leader in the strategic metals (rare earth) industry in order to become the primary provider in North America, Japan, the European Union and other markets of a stable, secure and dependable supply of rare earth products. Currently, over 75% of North America’s rare earth requirement must be imported. It is the Company’s three year objective to have US$100 million in sales penetration in the US alone; positioning us as the premier emerging diversified mining and resource company globally.
Work is also planned for the Company’s copper, gold and diamond properties.
The project funding is subject to all regulatory approvals.
Gary L. Billingsley
President
For further information contact Gary Billingsley, President, director, at (306) 220-5377 or Leonard Willetts, director, at (905) 544-8502. All email inquiries should be made to info@greatwesterngold.com (website: greatwesterngold.com) Direct mail: Great Western Minerals Group Ltd., P.O. Box 69, Saskatoon, SK S7K 3K1
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