ACQUISITION ABORTED – Sierra Rutile a No-Go

SIERRA LEONE - After conducting due diligence, Idaho-based WGI HEAVY MINERALS has decided not to acquire the assets of Sierra Rutile Ltd., including was is believed to be the world's largest and highest grade natural rutile deposit. The company gave no explanation for its decision to scrap the transaction, originally announced in August 2004. The Sierra Rutile mine operated from 1979 to 1995, when it was closed due to internal conflict in Sierra Leone.

For information on WGI's other worldwide operations, visit www.WGIheavyminerals.com.