Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

January 25, 2010 10:44 ET

Freewest Shareholders Approve Arrangement with Cliffs Natural Resources Inc.

- Freewest to apply for final order from Court on January 26

- Arrangement expected to close on January 27

MONTREAL, QUEBEC--(Marketwire - Jan. 25, 2010) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that its shareholders approved a previously-announced Arrangement with Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF) at a special meeting of Freewest shareholders held today in Montreal. Of a total of 159,808,069 Freewest shares voted, 131,247,614 shares (82.13%) were voted in favour of the Arrangement with Cliffs while 28,560,455 shares (17.87%) were voted against.

The Arrangement was also approved by a majority of the votes cast by Freewest shareholders, excluding the votes cast by Mackenzie I. Watson and Ronny Kay, two of Freewest's executive officers and directors, as required by applicable Canadian securities legislation.

The Arrangement with Cliffs provides that Freewest shareholders will receive, for each Freewest share, a fixed amount of CDN$1.00 in Cliffs shares, based on a five-day volume weighted average trading price of Cliffs' shares on the New York Stock Exchange. If, as expected, the effective date of the Arrangement is January 27, the volume weighted average trading price of Cliffs' shares on the New York Stock Exchange for the relevant five-day period, from January 15 to January 22, as converted into Canadian dollars, is $49.70. As a result, Freewest shareholders will receive 0.0201 of a Cliffs share for each Freewest share, or approximately 20 Cliffs shares for every 1,000 Freewest shares.

As previously announced, Freewest will apply to the Ontario Superior Court of Justice (Commercial List) for a final order in respect of the Arrangement tomorrow, January 26. If the final order is granted by the Court, it is expected that the Arrangement will become effective on Wednesday, January 27. Freewest expects that its shares will be delisted from the TSX Venture Exchange shortly thereafter.

"We are very pleased that our shareholders approved the Arrangement with Cliffs with a strong majority," said Mackenzie I. Watson, President and Chief Executive Officer of Freewest. "We look forward to completing the transaction with Cliffs later this week".

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.

About Cliffs Natural Resources Inc.

Cliffs Natural Resources (NYSE:CLF)(PARIS:CLF) is an international mining and natural resources company. It is the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. With core values of environmental and capital stewardship, Cliffs' colleagues across the globe endeavor to provide all stakeholders operating and financial transparency as embodied in the Global Reporting Initiative (GRI) framework. Cliffs is organized through three geographic business units:

The North American business unit is comprised of six iron ore mines owned or managed in Michigan, Minnesota and Eastern Canada, and two coking coal mining complexes located in West Virginia and Alabama. The Asia Pacific business unit is comprised of two iron ore mining complexes in Western Australia and a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. The South American business unit includes a 30% interest in the Amapá Project, an iron ore project in the state of Amapá in Brazil.

Over recent years, Cliffs has been executing a strategy designed to achieve scale in the mining industry and focused on serving the world's largest and fastest growing steel markets.

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 the 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.

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