Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

January 10, 2008 10:57 ET

Freewest and Rockport Set to Resume Diamond Drilling at Clarence Stream in New Brunswick

MONTREAL, QUEBEC--(Marketwire - Jan. 10, 2008) - Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (TSX VENTURE:FWR), (the "Corporation") today announces that diamond drilling will shortly resume on its Clarence Stream gold property (the "Property"). The 100%-owned Property comprising 11,296 hectares, is located close to infrastructure, 70 kilometres southwest of the City of Fredericton and 10 kilometres east of the Mount Pleasant tin-tungsten-molybdenum-indium deposit in Charlotte County, southwestern New Brunswick.

Diamond drilling will continue to test the deeper levels of a number of gold deposits comprising the Proximal deposits. Specifically, drilling will be directed at testing a one kilometer-long portion of the Proximal deposit trend in the locale of the Central Zone. Deeper drilling completed in October of 2007 targeting the minus 200 and 300 metre-levels in the Central Zone locale, returned intercepts including 47.82 g/t gold over 2.00 metres (CS07-263), 6.59 g/t gold over 7.00 metres (CS07-264) 3.57 g/t gold over 7.00 metres (CS07-265) and 3.04 g/t gold across 6.00 metres in hole CS07-268 (see Freewest news release dated October 3, 2007). Gold mineralization occurs in quartz veins hosted within deformed gabbro and microgranite dikes and sills intruding biotite-cordierite hornfels. All of the gold zones remain completely open-ended along strike and to depth.

A longitudinal section illustrating the location and assays of the most recently completed drill holes (October 2007) as well as the location of the proposed drill holes in the upcoming program is available on our website at www.freewest.com.

Under the terms of an agreement with Rockport Mining Corp. ('Rockport") at Clarence Stream, Rockport is required to spend $3,000,000 on exploration on the Property before the end of 2008 to earn a 30% vested interest in it. Rockport would spend an additional $4,500,000 on exploration and development prior to the end of 2011 to earn an additional 20% interest in the Property (50% cumulative). Upon Rockport earning a 50% interest in the Property it may elect to earn an additional 15% by funding the Property through to a Feasibility Study (see Freewest press release dated October 19, 2007).

Under the above terms, Rockport will be funding the upcoming program in an aggressive $3,000,000 diamond drilling program in 2008, in an effort to increase the gold mineral resource to the million-ounce plus range at an accelerated rate. Drilling results from this program will be released as they become available.

Rockport Mining Corp. is a well funded St. Andrews based mineral exploration company.

Freewest Resources Canada Inc. is a Canadian-based mineral exploration company exploring for gold, base-metals and uranium within Eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com. Freewest's shares are listed on the TSX Venture Exchange under the symbol FWR.

Glen Lutes, P. Geo. (New Brunswick), is the qualified person on-site at the Clarence Stream property. Donald Hoy, P. Geo (Ontario), Vice President of Exploration and a Director of Freewest Resources Canada Inc. is responsible for the preparation of this news release.

Investors are invited to visit the Freewest Hub at www.agoracom/IR/freewest where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to FWR@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Freewest Resources Canada Inc.
    Mackenzie I. Watson
    President and CEO
    (514) 878-3551 or 1-888-878-3551
    (514) 878-4427 (FAX)
    Email: info@freewest.com
    Website: www.freewest.com
    or
    Rockport Mining Corp.
    Henry A. Miller
    Chief Executive Officer
    (506) 529-8206
    (506) 529-8595 (FAX)