Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

February 29, 2008 08:30 ET

Freewest Intersects 7.98 G/T Gold Over 12 Metres in Deeper Drilling at Clarence Stream, New Brunswick

HIGHLIGHTS - New Deep Zone yields drill intercept of 7.98 g/t Au over 12.00 metres - Gold recovery bench tests yield greater than 90% by direct cyanidation and gravity separation

MONTREAL, QUEBEC, CANADA--(Marketwire - Feb. 29, 2008) - Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (TSX VENTURE:FWR) (the "Company") is pleased to provide an update of exploration activities currently ongoing at its Clarence Stream property (the "Property"). The 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

Diamond drilling completed early in 2008, continues to test the deeper levels below a number of gold zones comprising the Proximal deposits. Specifically, the drilling is testing a one-kilometre portion of the gold-bearing high-strain zone at the -200 and -300metre-levels, in the locale of the Central Zone.

Highlighting the recent results is an intercept of 7.98 g/t gold over 12.00 metres (10.00 metres true width) in drill hole CS08-272. This interval was re-assayed utilizing the screen metallics method, returning an assay of 8.72 g/t gold over 12.00 metres. Hole CS07-271, drilled from the same location as CS08-272, yielded an intercept of 4.22 g/t gold over 5.00 metres at the -225 metre-level. A 100-metre step-out hole, CS08-273, returned an intercept of 7.11 g/t gold across 5.00 metres at the -230 metre-level. The complete drill results are summarized in Table 1.



TABLE 1 -- DIAMOND DRILLING RESULTS
--------------------------------------------------------------------------
Hole No. Coordinates Dip From To Interval Gold Comments
(metres) (metres) (metres) (metres) (g/t)
(1)
--------------------------------------------------------------------------
CS07-271 L800E, 407N -45+ 300.00 306.50 6.50 3.58 Intersection
incl. 305.00 5.00 4.22 at a
300.00 vertical
depth of
225 metres
--------------------------------------------------------------------------
CS08-272 L800E, 407N -65+ 345.00 357.00 12.00 7.98 Intersection
incl. 352.00 6.50 13.18 at a
345.50 vertical
depth of
310 metres.
Screen
metallics
assay of
8.72 g/t
gold over
12.00 metres
--------------------------------------------------------------------------
CS08-273 L900E, 400N -45+ 310.50 315.50 5.00 7.11 Intersection
Incl. 313.50 2.00 16.81 at a
311.50 vertical
depth of
230 metres


(1)Assays performed by ALS Chemex of Val d'Or, Quebec using the fire assay method using 30 grams of prepared sample

Diamond drilling completed in late 2007 (see Freewest news release of October 3, 2007) and that to date in 2008, have successfully defined a new gold zone known as the Deep Zone (Figure 1). The Deep Zone has yielded significant, ore-grade intercepts over a 250-metre strike length and a height of 100 vertical metres. Gold mineralization occurs in quartz veins hosted within deformed gabbro and microgranite dikes and sills intruding biotite-cordierite hornfels. It remains completely open-ended along strike and to depth (Figure 1).

A longitudinal section illustrating the Deep Zone intersections (Figure 1) comprises part of this news release and is posted on the Freewest website at www.freewest.com.

METALLURGY

Bench-scale testing of diamond drill core from the Central Zone, the largest of the Proximal deposits, was completed by CANMET Mineral Technology Branch of Natural Resources Canada. The testing indicates a head grade of 8.00 g/t gold and that an overall recovery of greater than 90.6% is achievable through gravity separation and cyanidation of Central Zone ore.

Gold recovery tests were also completed for the AD Zone, the most prominent of the Distal deposits. The tests reveal that the head grade of the AD Zone is 6.48 g/t gold and that an encouraging 90.4% of the gold can be recovered by gravity separation and cyanidation of the ore.

Due to the significant antimony of the AD Zone, additional testing was performed by floatation methods to allow for the recovery of antimony minerals without hindering the recovery of gold. A very high recovery of 92.0% was obtained for antimony and gold by floatation, yielding a rough scavenger grade of 17% antimony and 54.0 g/t gold at this recovery. With further floatation testing, it is anticipated that the recovery and grade of the concentrate will substantially increase for both antimony and gold.

MINERAL RESOURCES

An updated 43-101 compliant mineral resource estimate is currently being completed by our consultants, Scott Wilson Roscoe Postle Associates (Scott Wilson RPA). The results of the updated mineral resource estimate are anticipated in the very near future and will be released when available.

FUTURE WORK

Management is very pleased with the reported results and stated: "Collectively, the recent drill results in combination with the gold and antimony recovery test work are extremely encouraging and bring us a step closer to bringing the project to the prefeasibility study stage. With the discovery of the Deep Zone and the shallow level of drilling completed elsewhere on the property, we feel very confident that we can increase the mineral resource to the million-ounce plus range."

Diamond drilling will continue employing 2 drill rigs, through March and into the spring break-up. It is anticipated that 2 of the drill rigs will continue to test the depth and strike extent of the Deep Zone while later in the spring, a third drill may be required to test other gold zones and satellite gold --soil anomalies. Additional drill results will be released as they become available.

In October 2007, Freewest signed an agreement with Rockport Mining Corp on the Clarence Stream property. Under the agreement terms, Rockport may earn a 30% interest in the Property by spending $3,000,000 on exploration on or before October 2008. They may earn an additional 20% interest (50% cumulative) by spending $4,500,000 on exploration on or before October 2011. Upon Rockport earning a 50% interest, it may elect to earn an additional 15% (65% cumulative) by funding the property through to a feasibility study. Rockport also undertakes on a best-efforts basis, to assist Freewest in financing its share of capital costs required for production, as outlined in the feasibility study. Rockport Mining Corp. is a well-funded St. Andrews-based mineral exploration company.

Rockport will be funding an aggressive first-year, $3,000,000 exploration program at Clarence Stream in 2008, under the operatorship of Freewest. The prime objective is to increase the project's resource mineral resource to the million- ounce plus level at an accelerated rate.

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.

Freewest is a well-funded mineral exploration company exploring for gold and base-metals 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.

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

Contact Information

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