Owner
Post by Franko10 ™ on Sept 20, 2004 15:33:29 GMT -5
Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
USA OTC BB Symbol: GWMGF
CUSIP: 39141Y 10 3
October 15, 2002
COMPANY TO PURCHASE 100% OF HOIDAS LAKE
Gary Billingsley, President, is pleased to report that an agreement in principle has been reached with a private corporation for the purchase, by Great Western Minerals Group Ltd., of a 100 percent working interest in the Hoidas Lake rare earth property in northern Saskatchewan. Prior to this agreement the Company was earning a 70 percent interest in the property through an option arrangement. Consideration for the purchase involves shares, cash payments and a production royalty to the vendor. Specific details will be reported once the formal agreement has been executed.
Hoidas Lake is a major, world-class rare earth discovery and the opportunity to increase its interest provides the Company with greater flexibility in financing and developing the project.
The Company also holds a 100% working interest in the Chuckwalla gold/copper project and the Tiffany diamond project, located in California and Colorado respectively, and an 80% interest in the Candle Lake diamond project in Saskatchewan.
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Great Western Minerals Group Ltd. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds, gold and rare earth elements.
For further information Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN MINERALS GROUP LTD.
Gary Billingsley
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
USA OTC BB Symbol: GWMGF
CUSIP: 39141Y 10 3
October 15, 2002
COMPANY TO PURCHASE 100% OF HOIDAS LAKE
Gary Billingsley, President, is pleased to report that an agreement in principle has been reached with a private corporation for the purchase, by Great Western Minerals Group Ltd., of a 100 percent working interest in the Hoidas Lake rare earth property in northern Saskatchewan. Prior to this agreement the Company was earning a 70 percent interest in the property through an option arrangement. Consideration for the purchase involves shares, cash payments and a production royalty to the vendor. Specific details will be reported once the formal agreement has been executed.
Hoidas Lake is a major, world-class rare earth discovery and the opportunity to increase its interest provides the Company with greater flexibility in financing and developing the project.
The Company also holds a 100% working interest in the Chuckwalla gold/copper project and the Tiffany diamond project, located in California and Colorado respectively, and an 80% interest in the Candle Lake diamond project in Saskatchewan.
--------------------------------------------------------------------------------
Great Western Minerals Group Ltd. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds, gold and rare earth elements.
For further information Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN MINERALS GROUP LTD.
Gary Billingsley
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
