www.wgiheavyminerals.com COEUR D'ALENE, ID, Feb. 10 /CNW/ - WGI Heavy Minerals, Inc. (TSX: WG) today announced issuance of a notification by the Indian Government Department of Atomic Energy, Mumbai, gazetted on the 20th of January 2006 which announced in part; "Titanium ores and concentrates (Ilmenite, Rutile and Leucoxene)... shall remain prescribed substances only till such time the Policy on Exploration of Beach Sand Minerals notified vide Resolution Number 8/1(1)97-PSU/1422 dated the 6th October, 1998 is adopted/revised/modified by the Ministry of Mines or till the 1st of January 2007, whichever occurs earlier and shall cease to be so thereafter." Ilmenite occurs along with our garnet deposits in India. Currently the Company produces ilmenite tailings at its plants in Tamil Nadu and Andhra Pradesh. The listing as a prescribed substance is one of the impediments to handling the ilmenite tailings, upgrading it and marketing WGI's ilmenite products. The result of this announcement is neither imminent nor certain. The Company welcomes the DAE decision, which had been actively encouraged by the Company, but cannot at this time determine what impact, if any, this announcement may have on the Company's operations. WGI Heavy Minerals, Inc. is a fully integrated miner, producer, and marketer of industrial-grade minerals. The Company's operations include mining and processing facilities in Washington and Idaho, U.S. (International Waterjet Parts & Emerald Creek Garnet), and Tamil Nadu and Andhra Pradesh, India (Bengal Bay Garnet). 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. %SEDAR: 00002893E
