Freewest Resources Canada Inc.

Freewest Resources Canada Inc.

October 11, 2006 17:35 ET

Freewest Resources Announces Closing of Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Oct. 11, 2006) - Freewest Resources Canada Inc.(TSX VENTURE:FWR) announces that it has completed a private placement by issuing 2,055,438 common shares, 90% of which were issued as "flow-through" common shares, to investors resident in Quebec at a price of $0.18 per common share, for gross proceeds to Freewest of $369,980.

Under applicable securities legislation and policies of the TSX Venture Exchange, the common shares issued in the private placement are subject to a hold period expiring on February 12, 2007.

Freewest will use 10% of the proceeds from the private placement for working capital and general corporate purposes, and the remaining 90% will go toward exploration work on Freewest's George River and Windfall properties in Quebec, Clarence Stream property in New Brunswick and Sungold property in Ontario.

As a result of the private placement, there are 126,631,384 common shares of Freewest issued and outstanding.

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 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.

Contact Information