Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

November 01, 2006 10:11 ET

Freewest Discovers New Uranium Occurrences on the George River Property, Northeastern Quebec and Northwestern Labrador

MONTREAL, QUEBEC--(CCNMatthews - Nov. 1, 2006) -

HIGHLIGHTS:

- Stewart Lake trend traced over 2.6 kilometre strike length with assays up to 0.384 % U3O8 (7.70 lbs/ton)

- Abigail occurrence yields assays of up to 0.369 % U3O8 (7.40 lbs/ton)

- Extensive radiometric anomalies defined by airborne geophysical survey coincide with new showings and delineate numerous other prospective areas

Freewest Resources Canada Inc. (the "Company")(TSX VENTURE:FWR) is pleased to announce the discovery of 4 new uranium occurrences, recently made during the course of a first-phase exploration program on its George River uranium property (the "Property"). The 100%-owned Property, consists of 3,854 mineral claims (7 claim blocks) comprising 172,164 hectares (425,250 acres) and is located 175 kilometres north-east of Schefferville, Quebec and 125 kilometres west of the Voiseys Bay nickel-copper-cobalt deposit, currently being mined by CRVD-Inco in Labrador.

The first-phase exploration program completed by the Company on the Property, consisted of an integrated airborne geophysical survey and prospecting program, directed at exploring for Proterozoic-age uranium deposits of various styles in the Churchill Province of Quebec and Labrador (see news release of May 10, 2006). The initial targets for prospecting follow-up consisted of a combination of airborne radiometric anomalies, uranium in-lake sediment anomalies, known radioactive occurrences and sulphide showings.

Prospecting Program:

The Stewart Lake trend situated on claim block one, is the most significant of the new discoveries. It comprises a number of outcrops, subcrops and large boulders traced by prospecting over a distance of at least 2.6 kilometres and over a width of up to 700 metres. The mineralized lithotypes are predominantly coarse-grained to very coarse-grained granitic pegmatites that are fractured, brecciated and are hematitically altered. A prominent yellow staining coating fractures and occurring as breccia-filling characterizes the samples yielding the highest uranium values. In all, 20 samples were collected from the Stewart Lake trend. Four of the 20 samples returned values greater than 0.10% U3O8, 7 of the 20 samples returned values greater than 0.05%U 3O8 and 19 of the 20 samples returned assays greater than 0.01% U3O8. The most significant assays are as follows:



Sample Easting Northing U3O8(%)1 Sample Description Occurrence
#
--------------------------------------------------------------------------
707576 439795 6252157 0.200 pegmatitic boulder, Stewart Lake trend,
4.00 yellow staining claim block one
pounds/ton
-------------------------------------------------------------------------
707610 439426 6251918 0.134 outcrop of granitic Stewart Lake trend,
2.75 pegmatite claim block one
pounds/ton
-------------------------------------------------------------------------
707665 438893 6252330 0.080 outcrop of pegmatitic Stewart Lake trend,
1.60 dike intruding claim block one
pounds/ton paragneiss
-------------------------------------------------------------------------
707666 439493 6262161 0.091 suboutcropping Stewart Lake trend,
1.82 granitic claim block one
pounds/ton pegmatite
-------------------------------------------------------------------------
707667 439483 6252103 0.132 outcrop of granitic Stewart Lake trend,
2.70 pegmatite claim block one
pounds/ton
--------------------------------------------------------------------------
707668 439282 6251980 0.384 outcrop/suboutcrop Stewart Lake trend,
7.70 of granitic claim block one
pounds/ton pegmatite with
yellow staining
--------------------------------------------------------------------------
707771 438531 6251938 0.050 large granitic Stewart Lake trend,
1.00 pegmatite claim block one
pounds/ton boulder,
yellow staining
--------------------------------------------------------------------------

(1) Assays performed by Actlabs of Ancaster, Ontario using the Delayed
Neutron Counting Method (DNC)


Stewart Lake mineralization is closely associated with a large east-northeast trending airborne radiometric anomaly (eU/eTh and eU), defined over a strike length of 4 kilometres. In addition, several other similar radiometric anomalies are located along trend and in the immediate vicinity of the Stewart Lake occurrence, providing evidence for the existence of a very large mineralized system in this area.

An additional 3 new uranium discoveries were also made during the prospecting program, the first known as the Abigail occurrence. This occurrence is situated some 50 kilometres to the south of the Stewart Lake trend on claim block three. It consists of a 2-metre wide, east-west-trending, coarse-grained pegmatitic dike that crosscuts paragneiss. The margins of the pegmatite dike are brecciated and characterized by prominent hematitic alteration and yellow staining. Preliminary grab sampling returned a best assay yielding 0.369% U3O8. The other 2 new uranium discoveries (Stewart 2 and Murphy) were made on claim block two, located approximately 65 kilometres south-southwest of the Stewart Lake trend. Both of these occurrences are intimately associated with prominent airborne radiometric anomalies as well. The assays are as follows:



Sample Easting Northing U3O8(%)1 Sample Description Occurrence
#
--------------------------------------------------------------------------
707690 435086 6198935 0.369 outcrop, 2-metre Abigail showing,
7.40 wide pegmatite claim block three
pounds/ton dike intruding
paragneiss,
yellow staining
---------------------------------------------------------------------------
707656 416299 6190306 0.095 outcrop of Stewart 2 showing,
1.90 coarse-grained claim block two
pounds/ton granitic
pegmatite
---------------------------------------------------------------------------
707755 413320 6192364 0.074 large pegmatitic Murphy showing,
1.50 boulders, claim block two
pounds/ton yellow
staining
-------------------------------------------------------------------- ------

(1) Assays performed by Actlabs of Ancaster, Ontario using the Delayed
Neutron Count Method (DNC)


A map showing the location of the new uranium occurrences accompanies this press release and is posted on the Freewest website at www.freewest.com.

Supplementing the new uranium occurrences was the discovery of a new nickel-copper showing known as Markus (see news release of October 4, 2006). At Markus, a series of pyroxenite feeder dikes were traced over a 700 metre strike length and returned best values of 0.23% nickel and 0.57% copper in preliminary sampling. Mineralization remains open-ended along strike.

Airborne Geophysical Survey and Future Work:

The initial exploration program also included a 4,350 line-kilometre airborne geophysical survey, completed on all seven claim blocks, by Fugro Airborne Surveys of Toronto, Ontario. The survey involved gamma ray spectrometry, high sensitivity magnetics and frequency domain electromagnetics (EM), intended to provide first-order targets for prospecting and to supplement geological interpretation. The preliminary radiometric maps delineate several anomalies (eU and eU/eTh), some of which are associated with the new uranium discoveries and numerous others that were not examined at all during the initial prospecting program. Additionally, several strong EM anomalies were defined during the survey. Their significance is not known at this very early stage of exploration.

A comprehensive compilation of all data including airborne geophysics, uranium in-lake sediment geochemistry, geology and analytical results (uranium assays and multi-element data from prospecting) will be completed once all of the final data has been received. The compilation and interpretation of the data will assist in consolidating exploration targets and priorities at both the detailed and reconnaissance scales, in preparing for the second phase of exploration for the George River property, slated for next spring.

Freewest management is very enthusiastic about the results generated by the initial exploration program on the George River property and stated: "Clearly, we have established the excellent uranium potential of a large under-explored area in north-eastern Quebec and north-western Labrador with the discovery of several new showings. The distribution of the new showings coupled with the extensive radiometric anomalies and uranium in-lake sediment anomalies, is suggestive of a large area of potential uranium mineralization".

Luciano Venditelli, P. Geo. (Quebec) is the Qualified Person on-site on the George River 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.

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

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

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