WGI Heavy Minerals Shareholders Vote Overwhelmingly for Company Nominees to Board of Directors

    COEUR D'ALENE, ID, June 25 /CNW/ - WGI Heavy Minerals, Incorporated
(TSX: WG) today announced that the Company's nominees to the Board of
Directors received overwhelming support at the Annual General Meeting held in
    Approximately 80% of the votes cast at the meeting supported WGI's
nominees to the Board. The nominees proposed by dissident shareholder Passport
Capital LLC ("Passport") approximately received 20% of the votes. At the
meeting, the Company nominees were supported by approximately 95% of the votes
from shareholders other than Passport.
    As a result of the shareholder vote, the Company's Board of Directors
consists of Chairman Covell Brown, Robert Ackerman, Michael Burns, Mark Curry,
Gregory Emerson, Gordon Fear and Kitson Vincent. Shareholders also established
the number of directors at seven.
    Total votes for the Company nominees were 15.3 million, compared with
3.9 million for the Passport nominees.
    "We welcome the support from our shareholders which gives your Board a
strong mandate to complete the sale of WGI's 74% interest in Transworld Garnet
India (Pvt.) Limited to expedite the announced special distribution of US$0.80
per WGI share, and to rebuild the value of the Company," said Mr. Brown. "With
new senior management in place, we will continue to identify and act on growth
opportunities with the potential to add value for our shareholders."

    About WGI

    WGI Heavy Minerals, Incorporated is a fully integrated miner, producer,
and marketer of industrial-grade minerals and replacement part for ultra-high
pressure waterjet cutting systems. The Company's shares are listed on the
Toronto Stock Exchange under the symbol WG.

    This press release contains forward-looking statements concerning the
business, operations, and financial performance and condition of WGI Heavy
Minerals, Incorporated. A number of the matters discussed and statements made
in the press release contain forward-looking statements reflecting current
expectations regarding future assets. When used in this press release, the
words "believe", "anticipate", "intend", "estimate", "expect", "project", and
similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such words. These
forward-looking statements are based on current expectations and are naturally
subject to risks, uncertainties, and changes in circumstances beyond
management's control that may cause actual results to differ materially from
those expressed or implied by such forward-looking statements. Factors that
may cause such differences include but are not limited to: exploration and
development risks; risks related to permits and title to property; risks
related to foreign countries and regulatory requirements; operating hazards;
foreign currency fluctuations; competition; fluctuations in the market price
of mineral commodities and transportation costs; uncertainty as to
calculations of mineral deposit estimates; uninsured risks; and dependence
upon key management personnel and executives. Actual results may differ
materially from those expressed here. You should not place undue reliance on
such forward-looking statements. The Company is under no obligation to update
or alter such forward-looking statements, whether as a result of new
information, future events, or otherwise.

For further information:

For further information: Ed Kok, Investor Relations, 810 Sherman Avenue,
Coeur d'Alene, ID, 83814, U.S.A., (208) 770-2208, Fax (208) 666-4000,
www.wgiheavyminerals.com, E-mail: ed@wgiheavyminerals.com

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WGI Heavy Minerals, Incorporated

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