FOR IMMEDIATE RELEASE

GREAT WESTERN MINERALS GROUP LTD.

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

June 15, 2009

GREAT WESTERN MINERALS GROUP AND MOLYCORP MINERALS, LLC TERMINATE
DISCUSSIONS OF PROPOSED TRANSACTION

Saskatoon Saskatchewan, June 15, 2009 -Great Western Minerals Group Ltd.
(�GWMG� or the �Company�) announced today that GWMG and Molycorp Minerals,
LLC (�Molycorp�) have terminated discussions with regard to the letter of
intent (the �Letter of Intent�) pursuant to which GWMG and Molycorp were
discussing the possible acquisition of a controlling interest in GMWG
pursuant to a share issuance, merger, amalgamation, or other form of
business combination (the �Proposed Transaction�) as disclosed in the
Company�s news release of April 20, 2009.

The structure of the Proposed Transaction, as disclosed on April 20, was to
include a mutually beneficial business combination that would substantially
maintain GWMG�s �mine-to-market� business model. Subsequent revisions to the
Proposed Transaction structure, as disclosed in May 4, would have focused on
the purchase GWMG�s manufacturing assets, including those of Great Western
Technologies Inc. and Less Common Metals Limited, and a joint-venture
participation in two of GWMG�s exploration projects.

Management of GWMG and the Special Committee consisting of independent
members of the board of directors of GWMG (the "Board") advised the Board
that GWMG and Molycorp could not reach agreeable terms with respect to the
revised focus of the Proposed Transaction.  As negotiations progressed,
management and the Board determined that the structure proposed by Molycorp
would not accomplish the original goals of the Proposed Transaction.
Management and the Board continue to believe that shareholder value will be
best achieved by not selling GWMG's core assets and continuing to pursue
GWMG's mine to market strategy and management is continuing discussions with
third parties that have indicated an interest in strategic relationships
with GWMG.

As such, the Board determined that GWMG could not move forward with
negotiation of a definitive agreement relating to the Proposed Transaction
and both GWMG and Molycorp have allowed the Letter of Intent to expire in
accordance with its terms.

Jim Engdahl, President and CEO of Great Western Minerals Group said �After
careful consideration, we did not feel that the direction in which we were
heading with Molycorp was in the best interests of our shareholders or that
we would be able to come to arrangements that would preserve our unique
mine-to-market strategy. In light of the recent and sudden focus on the rare
earth sector by the investment markets and in view of the additional
interest we have received during the last several months, we will continue
to pursue discussions with other potential strategic partners who share our
vision as a vertically integrated developer of rare earth properties and
products�.

Mr. Jim Engdahl
President and Chief Executive Officer
Great Western Minerals Group Ltd.
Tel: (306) 659-4508


For additional information, please contact Ron Malashewski, Manager of
Investor Relations, Great Western Minerals Group Ltd. (306) 659-4516, or by
email at info@gwmg.ca. Inquiries by direct mail should be addressed to Great
Western Minerals Group Ltd., 226 Cardinal Crescent, Saskatoon, SK S7L 6H8.

Certain information set out in this News Release constitutes forward-looking
information.  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 and which may be based upon information
provided by third parties. Forward-looking statements are based upon the
opinions, expectations and estimates of management of GWMG 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 GWMG,
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 GWMG believes that the expectations
reflected in the forward-looking statements set out in this News Release or
incorporated herein by reference are reasonable, they can give no assurance
that such expectations will prove to have been correct.  The forward-looking
statements of GWMG contained in this press release, or incorporated herein
by reference, are expressly qualified, in their entirety, by this cautionary
statement. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
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 Great Western Minerals Group Ltd. in any
jurisdiction. The securities of Great Western Minerals Group Ltd. have not
been registered under the Securities Act of 1933, as amended (the "1933
Act") and may not be offered or sold in the United States absent
registration or an applicable exemption  therefrom under the 1933 Act and
applicable state securities laws.

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