Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.
Cliffs Natural Resources Inc.
NYSE : CLF
PARIS : CLF

Cliffs Natural Resources Inc.

December 01, 2009 12:00 ET

Freewest Completes $4.1 Million Private Placement to Cliffs Natural Resources Inc.

- Freewest issues 6,908,440 shares to Cliffs at a price of $0.60 per share, for proceeds to Freewest of $4,145,064

MONTREAL, QUEBEC--(Marketwire - Dec. 1, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it has completed its previously-announced private placement to Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) by issuing 6,908,440 common shares to a wholly-owned subsidiary of Cliffs at a price of $0.60 per share, for proceeds to Freewest of $4,145,064.

The proceeds from the private placement will be used by Freewest for working capital purposes and for continuing work on Freewest's 100%-owned McFaulds property. As a result of the private placement, to Freewest's knowledge, Cliffs indirectly holds 21,658,440 Freewest shares, representing approximately 9.73% of the 222,033,479 shares that are issued and outstanding.

Under applicable securities legislation and the policies of the TSX Venture Exchange, the foregoing shares are subject to a hold period expiring on March 31, 2010.

About Freewest

Freewest is a mineral exploration company actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com. Freewest's shares are listed on Tier 1 of the TSX Venture Exchange under the symbol FWR.

Georgeson Inc. is acting as Freewest's solicitation agent in connection with a proposed Plan of Arrangement with Cliffs Natural Resources Inc. Georgeson may be contacted as follows:

Georgeson Inc. 
100 University Avenue
11th Floor, South Tower
Toronto, Ontario
M5J 2Y1
 
North American Toll Free Number: 1-866-433-7579
Banks and Brokers Collect Number: 1-212-806-6859

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Freewest Resources Canada Inc. ("Freewest"). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Freewest will derive therefrom. In particular, no assurance can be given as to whether a proposed plan of arrangement with Cliffs Natural Resources Inc. will be completed. Forward-looking information is based on the estimates and opinions of Freewest's management at the time the information is released and Freewest does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information