West Excelsior Enterprises Inc.

West Excelsior Enterprises Inc.

November 06, 2006 06:00 ET

West Excelsior Enterprises Inc. to Incorporate Mexican Subsidiary

LAS VEGAS, NEVADA--(CCNMatthews - Nov. 4, 2006) - West Excelsior Enterprises Inc. (PINK SHEETS:WEXE) is pleased to announce that it has retained legal counsel in Mexico to begin establishing a Mexican subsidiary company. The Company recently signed a letter of intent for the right to earn a 100% interest in the Santa Maria del Oro mineral properties in the Sierra Madre del Sur Province, Mexico. Exploration on this property is set to begin shortly, at the end of the current rainy season. The Company is also evaluating other mineral properties for potential acquisition or joint venture opportunities in Mexico.

Under the Mexican Constitution of 1917, minerals were part of the national patrimony. Amendments in 1996 to the 1992 Mining Law removed many of the restrictions regarding the participation of private and foreign companies, permitting direct investment with up to 100% ownership of equity in exploration works and activities, and allowing up to 100% foreign participation in production. Further revisions in 1999 were geared to increase participation of the private sector, and competitiveness of mining companies in the country.

The legal framework for mining is set forth in Article 27 of the Constitution, which grants the ownership of essentially all minerals to the Mexican nation. The right to exploit those minerals, except for radioactive minerals which are reserved for the State, is given to private parties through concessions issued by the federal executive branch, as may be established by law. Such concessions may be issued to Mexican individuals, to companies incorporated under Mexican law, and to foreign individuals. In the latter case, foreign individuals agree to the Calvo Clause, under which a foreigner agrees to consider himself as a Mexican and not to invoke the protection of his government regarding any rights that he holds in Mexico, under penalty, if he breaches such agreement, to forfeit said rights in benefit of the Mexican nation. Participation of foreigners in Mexican mining is therefore carried out through Mexican companies. In this regard, starting in 1961 foreigners were restricted to owning no more than 49% of the shares of Mexican mining companies, making Mexico quite unattractive for foreign investment. The regulations of the mining law of 1990 allowed foreigners to indirectly hold the remaining 51% of the shares spurring a boom in foreign exploration investment. When enacted in 1992, the Law put no restrictions other than complying with the Foreign Investment Law, which in 1993 allowed full foreign investment in mining, always through Mexican companies.

About West Excelsior

West Excelsior Enterprises is a junior exploration company actively acquiring, exploring, and developing early stage mineral resource properties. The Company is currently focusing on projects in Mexico.

On Behalf of the Board of Directors,

Mark Glusing, President

This press release may contain certain forward-looking information and statements concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the company.

Contact Information