Great Western Minerals Acquires Interest in Second North American Rare Earth Project

Saskatoon, SK - August 29, 2007 - Great Western Minerals Group Ltd. (TSX-V: GWG) ("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

For further information, please contact 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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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.