An anonymous director reports

GREAT WESTERN MINERALS INITIATES SALE AND INVESTOR SOLICITATION PROCESS

Great Western Minerals Group Ltd. has initiated a sale and investor solicitation process (SISP).

Pursuant to the previously announced support agreement dated April 29, 2015, between the company and certain holders of the company's $90-million (U.S.) 8-per-cent secured convertible bonds due 2017, a notice of the SISP was published in the Northern Miner. The full text of the notice is set out below.

Business assets for sale/investors sought

PricewaterhouseCoopers Inc., in its capacity as court-appointed monitor in the Companies' Creditors Arrangement Act (CCAA) proceedings of Great Western Minerals Group, is supervising a sales and investor solicitation process seeking one or more purchasers, investors, or financiers in or for the company, or any of the company's businesses, properties, assets and undertakings. Great Western Minerals Group is a vertically integrated leader in the manufacturing and supply of rare earth-based alloys and high-purity metals. Great Western Minerals Group possesses a low-cost, high-grade critical rare earth asset located in South Africa, along with a manufacturing and processing facility located in the United Kingdom. For further information regarding the CCAA restructuring and Great Western Minerals Group, please refer to the PwC website. The deadline for submission of offers is 12 p.m. (Eastern Time) on June 16, 2015.

To obtain detailed information on Great Western Minerals Group, and its business and assets, interested parties will be required to sign a confidentiality agreement. For additional information concerning Great Western Minerals Group and the SISP, please contact either Michael Huber (416-687-8750) or Stephen Mullowney (416-687-8511) of the monitor.

Great Western Minerals Group has received an order for protection pursuant to the CCAA from the Ontario Superior Court of Justice commercial list, which included, but was not limited to, the appointment of PwC as monitor of Great Western Minerals Group in the CCAA proceedings.

The initial order permitted Great Western Minerals Group, among other things, to continue to carry on business in a manner consistent with the preservation of its business and property, and to continue to finance the working capital requirements of its direct and indirect subsidiaries.

The initial order also, among other things:

1. Authorized Great Western Minerals Group to take all steps and actions in respect of, and to comply with, all of its obligations pursuant to the support agreement;
2. Approved the SISP attached as schedule A to the initial order;
3. Granted a stay of proceedings until May 29, 2015, or such later date as the court may order;
4. Granted certain priority charges on the property of Great Western Minerals Group;
5. Approved the key employee retention payments offered by Great Western Minerals Group to its remaining employees and executive officer.

A copy of the initial order is posted on the monitor's website.

The timing and procedures governing the SISP, the terms of participation by prospective purchasers, investors or financiers, and the criteria for the submission, evaluation and selection of bids, are set out in the support agreement, and were approved by the initial order. For further information, please refer to the monitor's website.

We seek Safe Harbor.