Westchester Resources Inc.

Westchester Resources Inc.
Guyana Goldfields Inc.

Guyana Goldfields Inc.

November 17, 2006 08:30 ET

Westchester Resources and Guyana Goldfields Complete Option Agreement on Peters Mine Property

TORONTO, ONTARIO--(CCNMatthews - Nov. 17, 2006) - Westchester Resources Inc. (TSX VENTURE:WSR) ("Westchester") and Guyana Goldfields Inc. (TSX:GUY) ("Guyana Goldfields") are pleased to announce that they have entered into a definitive agreement (the "Option Agreement") effective as of October 19, 2006, whereby Westchester can earn a 50% interest in Guyana Goldfield's Peters Mine property (the "Property") located in Guyana, South America. Pursuant to the Option Agreement, in order to earn its 50% interest in the Property, Westchester is required to issue 5,000,000 common shares to Guyana Goldfields and spend a total of $5 million in exploration on the Property over a three-year period. All conditions precedent to the Option Agreement becoming effective have now been fulfilled.

About Guyana Goldfields

Guyana Goldfields is a Canadian based mineral exploration company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French Guyana and northern Brazil.

Guyana Goldfields holds advanced exploration projects in various stages of development and has been operating in Guyana continuously since 1996.

Common shares of Guyana Goldfields trade on the Toronto Stock Exchange under the symbol of "GUY". Guyana Goldfields currently has 48,419,510 shares issued and outstanding

About Westchester Resources

Westchester is a Canadian junior resource company. Common shares of Westchester trade on the TSX Venture Exchange under the symbol "WSR". Westchester currently has 51,227,652 shares issued and outstanding.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Westchester or Guyana Goldfields, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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

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