|
Post by Franko10 ™ on Sept 20, 2004 15:45:32 GMT -5
NEWS RELEASE CANDLE LAKE PAYMENT MADE Gary Billingsley, President, is pleased to report that, further to the news release of February 19, 2004, the Company has made the $150,000 cash payment to purchase the remaining working interest in the Candle Lake diamond project in Saskatchewan. A warrant certificate convertible into 500,000 shares of Great Western Diamonds Corp. ("GWD") has also been issued and the regulatory process is underway to issue 500,000 shares of the Company as part of the purchase. This transaction will give the Company a 100% working interest in the Candle Lake property.
Financing negotiations for funding GWD, into which the property will be transferred, are nearing completion and details will be announced shortly. Plans for a summer work program, which will include a mini-bulk sample, are underway and permitting is in progress.
Gary L. Billingsley, C.A., P.Eng., P.Geo. President
For further information contact the Company at (306) 668-0701. All email inquiries should be made to info@gwmg.ca (website: http://www.gwmg.ca) Direct mail: Great Western Minerals Group Ltd., 119A Cardinal Crescent, Saskatoon, SK S7L 6H5
(The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the foregoing contents) © 2004 Great Western Minerals Group Ltd.
|
|