WGI Heavy Minerals Announces that Second Proxy Advisory Firm Recommends Supporting Current Board

COEUR D'ALENE, ID, June 19 /CNW/ - WGI Heavy Minerals, Incorporated (TSX: WG.TO) today announced that RiskMetrics Group (formerly Institutional Shareholders Services or ISS), a leading proxy advisory firm, has recommended that WGI shareholders vote for the Company's nominees to the Board of Directors, using the WHITE proxy, prior to the Company's June 25, 2008, Annual General Meeting.

RiskMetrics advises shareholders not to vote for the nominees of dissident shareholder Passport Capital LLC ("Passport" or "the Dissident").

WGI recommends that shareholders use only the WHITE proxy to vote and to discard the Yellow proxy they have received from the Dissident. With limited time available, shareholders are advised to vote within the next 24 hours to ensure their proxy can be counted in time for the Annual General Meeting.

The RiskMetrics report notes the issues raised by Passport and concludes: "However, we believe most, if not all, issues of operating problems, return to shareholders and corporate governance either have been, or are currently being, addressed by the incumbent board. Therefore no radical change is warranted."

Referring to the Company's historical performance and the recent sale of Transworld Garnet India (Pvt.) Limited (TGI), the report adds: "the major problems were caused by the former board and management, not the incumbent one, which has made significant positive strides of late. We understand the complexity of solving the troubled investment in India makes it a longer than normally expected process. But the final solution, after a series of legal initiatives to clean the title of TGI and a competitive bidding process thereafter, turns out to be in the best interest of shareholders....we neither believe the Dissident is proposing a substantial new strategy for the company, especially after the successful TGI sale, nor are convinced the dissident nominees will have better skill sets to move the company forward."

RiskMetrics is the second major independent proxy advisory firm to recommend voting for the Company nominees. On June 17, the Company announced that Glass Lewis & Co. had recommended that shareholders vote to support the current Board.

Company Investor Presentation Available

WGI has prepared a presentation for shareholders outlining the reasons to vote for the Company nominees to the Board of Directors. The presentation can be accessed at the Company website, www.wgiheavyminerals.com.

    
                   THE PROXY TO VOTE IS WHITE - HERE'S HOW
    

Time is short. To be counted at the Annual Meeting, your proxy must be signed, dated and submitted as soon as possible and no later than 10:00 am EDT, Monday June 23, 2008.

You may vote your common shares by internet, telephone, facsimile or mail. We suggest voting today no later than 24 hours prior to the deadline to ensure your vote is received in a timely manner to be voted at the Meeting. Mail is not recommended.

Please note that if you have mistakenly voted using the wrong proxy, you have every right to change your vote by simply voting your WHITE proxy. This action will cancel all previous votes since it is the later-dated proxy received that will count at the meeting.

If you have any questions about the information contained in this document or require assistance in completing your WHITE proxy form, please contact our proxy solicitation agent at:

    
                                  Georgeson

               North American Toll Free Number: 1- 866-676-3029
    

About WGI

WGI Heavy Minerals, Incorporated is a fully integrated miner, producer, and marketer of industrial-grade minerals and replacement part for ultra-high pressure waterjet cutting systems. The Company's shares are listed on the Toronto Stock Exchange under the symbol WG.

Note: Permission to quote from RiskMetrics Group was neither sought nor obtained.

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.

Contacts

Ed Kok
Investor Relations
810 Sherman Ave.
Coeur d'Alene
ID
83814
U.S.A. (208) 770-2208
Fax (208) 666-4000
www.wgiheavyminerals.com
E-mail: ed@wgiheavyminerals.com