News Release

TSX Venture Symbol: GWG
US Symbol: GWMGF
CUSIP 3914Y 10

December 10, 2007

Great Western Minerals Group Ltd. Announces Private Placement for Further Exploration and Construction of Pilot Plant

Great Western Minerals Group Ltd. ("GWMG" or the "Company") is pleased to announce a non-brokered private placement financing of up to 7,500,000 Common Flow-Through Shares at $0.40 per Common Share, subject to regulatory approval. The proceeds of this placement will be used to fund the Company's recently announced drilling program at the Hoidas Lake Rare Earth Element (REE) Project in Northern Saskatchewan, and to begin construction of a pilot plant in 2008.

These Common Shares will be subject to a four month hold period, in accordance with applicable securities legislation. This placement is expected to close on December 18, or sooner at the discretion of the Company. A cash finder's fee of up to 5% will be paid to accredited agents.

It is anticipated that certain officers, directors, or insiders of the company may subscribe for a portion of the private placement. That portion of the private placement that is sold to insiders may be classified as a related-party transaction, as defined in TSX Venture Exchange Policy 5.9. The Company anticipates that it will be able to rely upon exemptions to the shareholder approval and valuation requirements imposed by TSX Venture Exchange Policies in respect of related party transactions.

Jim Engdahl, President and CEO of Great Western Minerals Group says, "We have compelling reasons to accelerate our exploration programs on our rare earth properties. There is strong interest and encouragement in the rare earth industry to conduct further drilling at Hoidas Lake with the goal of increasing the tonnage on that property. This financing will allow us to do that without altering our exploration budget for our Deep Sands Project in Utah."

Endgahl adds, "The pilot plant will be another important step forward in our strategy. Current metallurgical testing is being conducted on kilogram-sized rock samples with excellent results. The pilot plant program will determine if similar low-cost metal recoveries can be obtained with rock samples consisting of several tonnes, and determine the feasibility of successfully applying that metallurgical process to a full-scale operation. Data obtained from the pilot plant program will then be used in the final feasibility study for Hoidas Lake."

Great Western Minerals Group 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 rare earth elements.

Jim Engdahl
President

For further information please contact Ron Malashewski, Manager of Investor Relations at (807) 467-8847. All 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

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