Gowest Amalgamated Resources Ltd.

Gowest Amalgamated Resources Ltd.

July 02, 2008 09:35 ET

Gowest Announces Appointment of CFO

TORONTO, ONTARIO--(Marketwire - July 2, 2008) - Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA) -

Gowest is pleased to announce that Mrs. Janet O'Donnell will join the company as CFO and will replace Mr. Donald Rankin as Secretary. Mr. Rankin will continue to serve on the board of directors.

Mrs. O'Donnell was most recently CFO of a Canadian manufacturing company that sold consumable products exclusively to the mining industry. Mrs. O'Donnell was an integral part of the team that took the company public as an income trust in 2005 and with the regulation changes to the income trust sector the company was sold to a private equity group in 2007.

A director has agreed to the cancellation of 100,000 stock options, which will be returned to the stock option plan to ensure there is a sufficient pool of options to reward and motivate employees and consultants of the company.

Mrs. O'Donnell has been granted 100,000 options to acquire common shares of the Company at an exercise price of ($0.15) per common share expiring on July 1, 2013.

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

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