Gowest Amalgamated Resources Ltd.
TSX VENTURE : GWA

Gowest Amalgamated Resources Ltd.

October 11, 2007 09:00 ET

Gowest Encouraged by Discovery of New Moly Occurrences at Molybdenite Lake

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2007) - Since January, 2007 Gowest (TSX VENTURE:GWA) has been working on the evaluation of their Molybdenite Lake property. Careful and systematic prospecting on and around the property has resulted in discovery of five additional significant molybdenite occurrences (to view the accompanying map, please click the following link: http://www.ccnmatthews.com/docs/moly21.jpg). Detailed mapping by company geologists indicate that three of the occurrences merit sampling for molybdenum and gold. A summary of the work undertaken is as follows:

- during the winter established a grid over the Lake and surrounding area (about 1.5 X 2km) and completed a magnetic survey

- carried out extensive research concerning previous work (see announcement dated November 8, 2006) and new literature on the character, relationships and mode of deposition of the mineral molybdenite

- did a geological interpretation of the regional terrane centred by Molybdenite Lake

- specific areas deemed having potential were carefully prospected

- stripped, washed and mapped original showing area (200 X 300 m)

- presently undertaking similar work on new occurrences.

Our work has led to a better understanding of the nature and scope of the mineralization and guided our plans for future exploration as follows:

- determined that the molybdenite mineralization is widespread having been found within an area of at least 2 X2 km

- therefore, have acquired additional land by staking an additional 1280 acres to more than double our original land package

- since at least one of the newly discovered occurrences by visual examination is potentially ore grade, it will be tested by rock trenching and bulk sampling to determine and provide reliable grade of molybdenite and gold

- have prepared a plan for the drilling of Molybdenite Lake which is untested and essentially the centre of the widespread mineralization.

The rock trenching for the provision of bulk samples is underway. It is planned to undertake a program of at least 5000 metres of drilling during the winter months, which will cost about a half million dollars. Details of a new financing will be provided in the near future. The writer is the qualified person responsible for the verification of the information and data used in this release and is satisfied that the content meets the appropriate standards.

For additional information see our website at: www.gowestamalgamated.com.

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

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