Great Western Minerals acquires interest in second North American rare earth project



    TSX Venture Symbol: GWG
    USA Symbol: GWMGF
    CUSIP: 39141Y 10 3

    SASKATOON, Aug. 29 /CNW/ - Great Western Minerals Group Ltd. ("GWMG" or
the "Company") is pleased to announce that, further to the news release issued
August 13, 2007, it has acquired an interest in a rare earth-bearing property
in Utah, United States, from Titan Mining Group ("Titan").
    The 17,094 hectare property is located near Salt Lake City in Juab County
which, at one time, was considered to be one of the richest mining districts
in the United States. The property is easily accessible, with rail, roads, and
power located adjacent to the property.
    Under the terms of the purchase agreement (the "Purchase Agreement"),
GWMG will pay an aggregate of US$4.3 million to Titan to earn an immediate 25%
interest in the rare earth elements ("REEs") contained in the property and
will have the exclusive right to explore for REEs.
    "We can't over-emphasize how important this project could be in
establishing GWMG as a major rare earth producer outside of China", says Jim
Engdahl, President of GWMG. He adds, "We feel this property has tremendous
potential and could perfectly complement our Hoidas Lake project, which has a
high proportion of neodymium. Since dysprosium is used with neodymium in the
magnet industry, this property could provide a complete 'made in North
America' supply solution to magnet manufactures and other industrial users of
REEs."
    Gary L. Billingsley, P.Eng., P.Geo., is the Qualified Person responsible
for reviewing the contents of this release.
    Great Western Minerals Group Ltd., is a Canadian based company exploring
for, and developing, strategic metal resources in North America. Pursuing a
vertically-integrated business model, the Company's wholly-owned subsidiary
Great Western Technologies Inc., located in Troy, Michigan, produces a variety
of specialty alloys for use in the battery, magnet and aerospace industries.
These "designer" alloys include those containing copper, nickel, cobalt and
the rare earth elements.

    Jim Engdahl
    President

    Cautions Regarding Forward-Looking Statements

    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. Forward-looking statements are based upon the opinions,
expectations and estimates of management of the Company 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, risks,
uncertainties and other factors that are beyond the control of the Company,
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 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 the Company 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 the Company contained in this press release, or incorporated herein by
reference, are expressly qualified, in their entirety, by this cautionary
statement.

    (The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release)

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities of the Company in any jurisdiction.
The securities of the Company have not and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act"), or the
securities laws of any state of the United States, and may not be offered or
sold in the United States absent registration or an applicable exemption
therefrom under the 1933 Act and the securities laws of all applicable states.





For further information:

For further information: Ron Malashewski, Manager of Investor Relations
at (306) 668-0701; Email inquiries should be made to info@gwmg.ca and the
Company website is located at www.gwmg.ca; Inquiries by direct mail should be
addressed to Great Western Minerals Group Ltd., 226 Cardinal Crescent,
Saskatoon, SK, S7L 6H8

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Great Western Minerals Group Ltd.

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