Gowest Amalgamated Resources Ltd.

Gowest Amalgamated Resources Ltd.

November 21, 2007 09:28 ET

Gowest Financing Completed

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2007) - Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA) is pleased to announce that it has successfully completed its private placement financing whereby 3,900,000 units (the "Units") have been issued at a price of $0.25 to raise $975,000.

Each Unit consists of one "flow through" common share ("FT Share"), one-fifth of one non "flow-through" common share and one half of one share purchase warrant exercisable at $0.35 per share until December 31, 2008. The FT shares are "flow-through" shares under the Income Tax Act, Canada and the proceeds raised from the sale of the Units which are attributable to FT Shares (being $0.208 per Unit) will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act, Canada) related to the exploration programs of the Corporation.

Gowest paid finder's fees totalling $40,000 to certain entities which assisted in connection with the financing.

The Gowest research and exploration team is particularly pleased with the financial support. The funds will enable the Gowest team to advance their programs on the molybdenum, gold and uranium property holdings in Ontario.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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