Freewest Resources Canada Inc.
TSX VENTURE : FWR

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

Cliffs Natural Resources Inc.

November 25, 2009 17:11 ET

Freewest Obtains Regulatory Approval for $4.1 Million Private Placement to Cliffs Natural Resources Inc.

- Freewest to issue 6,908,440 shares to Cliffs at a price of $0.60 per share, for proceeds to Freewest of $4,145,064 - Private placement scheduled to close on November 30

MONTREAL, QUEBEC--(Marketwire - Nov. 25, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it has obtained approval from the TSX Venture Exchange for its previously-announced private placement to Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF). Freewest will issue 6,908,440 common shares to Cliffs at a price of $0.60 per share, for proceeds to Freewest of $4,145,064.

The private placement is scheduled to close on Monday, November 30. The approval from the TSX Venture Exchange is subject to standard conditions.

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. Following the private placement, Cliffs will indirectly hold 21,658,440 Freewest shares, representing approximately 9.73% of the 222,533,479 shares that will be issued and outstanding.

Freewest's Board of Directors reminds shareholders that the Board continues to recommend that shareholders REJECT the hostile take-over bid made by Noront Resources Ltd. on October 13, 2009 and NOT tender their shares to the Noront offer, which will expire on December 1, 2009. The Board of Directors unanimously supports the proposed plan of arrangement with Cliffs Natural Resources Inc., announced by Freewest on November 23. A special meeting of Freewest shareholders to vote on the proposed transaction with Cliffs is expected to be held in January 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 the transaction 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. More particularly, this news release contains forward-looking information concerning a Plan of Arrangement involving Freewest Resources Canada Inc. ("Freewest") and Cliffs Natural Resources Inc. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of 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 the 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