Freewest Resources Canada Inc.
TSX VENTURE : FWR

Freewest Resources Canada Inc.

November 13, 2006 09:33 ET

Freewest Resources Announces Closing of Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Nov. 13, 2006) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it has completed a private placement by issuing 2,000,000 "flow-through" units to investors in Ontario at a price of $0.18 per unit, for gross proceeds to Freewest of $360,000.

Each unit consists of one "flow-through" common share and one half (1/2) of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one additional common share of Freewest at a price of $0.22 per share for a period of twelve months from the date of issuance.

Under applicable securities legislation and the policies of the TSX Venture Exchange, the common shares and warrants issued pursuant to the private placement are subject to a hold period expiring on March 11, 2007.

Freewest will use 100% of the proceeds from the private placement for exploration work on its properties located in Ontario, Quebec and New Brunswick.

As a result of the private placement, there are 128,631,384 common shares of Freewest issued and outstanding.

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.

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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