Gowest Amalgamated Resources Ltd.
TSX VENTURE : GWA

Gowest Amalgamated Resources Ltd.

March 20, 2006 16:30 ET

Gowest Amalgamated Resources Ltd.: Shareholders Approve Sale of Detour Lake West Property and Return of Capital Distribution

TORONTO, ONTARIO--(CCNMatthews - March 20, 2006) - Gowest Amalgamated Resources Ltd. ("Gowest")(TSX VENTURE:GWA) is pleased to announce that its shareholders (the "Shareholders") approved the sale of Gowest's interest in the Detour Lake West property to Trade Winds Ventures Inc. (TSX VENTURE:TWD) for 8,033,967 common shares of Trade Winds (the "Trade Winds Shares"). It is expected that the closing of this transaction will take place on or before March 31, 2006.

The Shareholders also approved the reduction in Gowest's stated capital and the distribution of all of the Trade Winds Shares to Shareholders on a pro rata basis. This distribution is subject to regulatory approval. Following the receipt of such regulatory approval, Gowest will issue a press release confirming the record date established for such distribution. As well, Shareholders approved the internal reorganization of Gowest's operating assets to facilitate the distribution of the Trade Winds Shares to Shareholders.

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

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