Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

November 15, 2007 11:53 ET

Freewest Updates Exploration Activities on Its McFaulds Property, Northern Ontario

MONTREAL, QUEBEC--(Marketwire - Nov. 15, 2007) - Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (TSX VENTURE:FWR) (the "Company") is pleased to provide an exploration update on the Company's McFaulds property (the "Property"). The Property consists of 9 mineral claims comprising 22.7 square kilometers and is located 3.8 kilometres north-east of the Double Eagle nickel-copper-platinum group element (PGE) deposit, recently discovered by Noront Resources Ltd. (TSX VENTURE:NOT). The subject properties are located in the Sachigo greenstone belt approximately 300 kilometres north of the town of Nakina, in the James Bay Lowlands of northern Ontario.

DOUBLE EAGLE NICKEL-COPPER-PGE DEPOSIT

The Double Eagle deposit has yielded some exceptional grades including 1.84% nickel, 1.53% copper, 1.14 g/t platinum and 3.49 g/t palladium over 36.0 metres (NOT-07-01) as well as 5.09% nickel, 3.10% copper, 2.78 g/t platinum and 9.78 g/t palladium over 68.3 metres in hole NOT-07-05. The deposit occurs in komatiitic rocks described as peridotites, within the basal lower-most portion of the volcanic pile comprising the southern limb of the Sachigo greenstone belt. It is intimately associated with a discrete magnetic anomaly (magnetic high) and a coincident electromagnetic anomaly (conductor).

FREEWEST'S MCFAULDS PROPERTY

Based on an archived airborne geophysical survey flown in 2003 and geological evidence, Freewest's McFaulds property likely covers the north-easterly extension of the same belt of komatiitic rocks that hosts the Double Eagle deposit. Additionally, the komatiites on Freewest's property are associated with a series of magnetic highs and electromagnetic conductor clusters that are similar to the geophysical signature of the Double Eagle deposit. These anomalies are of immediate exploration interest and are prime targets for diamond drilling.

Four (4) of the 9 mineral claims (10 square kilometers) comprising the McFaulds property are wholly owned by Freewest Resources Canada Inc. The remaining 5 mineral claims or 12.7 square kilometres are currently under option to Spider Resources Inc. and KWG Resources Inc (Freewest JV). On the latter, Spider and KWG may earn a 50% interest in them by spending $3,000,000 on exploration over a 4-year period. They may earn a 60% interest by delivering a bankable feasibility study on any mineralization identified and a cumulative 65% by arranging project financing for Freewest to put such mineralization into commercial production. Spider and KWG recently announced that they intend on spending $2,000,000 on drilling select airborne and ground geophysical anomalies on the Freewest JV in the winter of 2008 (see Spider Resources Inc. news release dated October 1, 2007).

The following image shows the disposition of the 100%-owned claims and the claims that are currently under option to Spider Resources Inc. and KWG Resources Inc. (Freewest JV).

CURRENT FREEWEST EXPLORATION PROGRAM

A detailed airborne geophysical survey is currently being flown for the Company over its entirety, at 100 metre line centres. The detailed survey will yield greater definition and resolution of anomalies than those defined by the earlier survey flown at 300-metre line spacing in 2003. It is being completed by Aeroquest International using the AeroTEM II helicopter-borne time domain system and it is anticipated that preliminary results will be available to the Company in early December.

In anticipation of receiving the detailed airborne geophysical results, the Company has commenced a property-wide line cutting program, to facilitate the completion of ground geophysical surveys. These will include horizontal-loop electromagnetic (HLEM),magnetic and possibly gravity surveys. The intent of the ground surveys is to further refine the location, tenor and nature of the airborne geophysical anomalies in preparation for diamond drilling. The ground geophysical survey will commence immediately following the completion of the line cutting.

The Company is also sampling 2 critical drill holes that were completed earlier on the Property. Both of the drill holes intersected thick sections of komatiitic rocks (up to 180 metres) that were only sampled locally. One of the holes FW-06-03, completed on the Freewest JV portion of the Property, intersected high-grade chrome mineralization with anomalous nickel, copper and platinum-group-element mineralization within peridotite. Petrographic and geochemical analyses of the drill core will yield additional information on the nickel-copper-PGE mineralizing system in preparation for diamond drilling.

Donald Hoy, P. Geo. (Ontario), Vice President of Exploration and a Director of Freewest Resources Canada Inc. is the Qualified Person on the McFaulds project and is responsible for the preparation of this news release.

Freewest is a well-financed mineral exploration company exploring for gold, base-metals and uranium in 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.

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