Gowest Amalgamated Resources Ltd.

Gowest Amalgamated Resources Ltd.

July 11, 2008 16:37 ET

Gowest Update

TORONTO, ONTARIO--(Marketwire - July 11, 2008) - Gowest Amalgamated Resources Ltd. (or the "Company")(TSX VENTURE:GWA) recently completed a nine hole (3,185 meter) drill program on its Molybdenite Lake claim group. No significant molybdenite mineralization was encountered. Based upon these results, the Company has decided that no further work will be undertaken on the property at this time. Gowest will review its options for the project.

Greg Romain, President and CEO of Gowest, stated; "Although we are disappointed with the results at Molybdenite Lake, we remain committed to advancing our Frankfield and Whitney gold projects. We believe these projects offer the greatest growth potential for Gowest shareholders, and we will strive to maximize their value."

The Frankfield project, in Tully Township near Timmins, has an inferred resource of approximately 500,000 oz of gold grading approximately 6.5 g/t. Preliminary metallurgical results indicated the potential for gold recoveries in excess of 90% when subjected to flotation. A pressure oxidation test performed on the flotation concentrate and then followed by conventional cyanidation resulted in recoveries of 98% of the gold contained in the oxidized solids. Additional testing is being considered on larger samples taken from both main ore zones.

Gowest continues surface work on its U3O8 project near Sudbury as it studies the options for this project.

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

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