Westchester Resources Inc.

Westchester Resources Inc.

November 22, 2006 08:30 ET

Westchester Resources Initiates Drilling on Peters Mine Property

TORONTO, ONTARIO--(CCNMatthews - Nov. 22, 2006) - Westchester Resources Inc. ("Westchester") (TSX VENTURE:WSR) is pleased to announce that pursuant to its previously announced option agreement (the "Option Agreement") with Guyana Goldfields Inc. (TSX:GUY) regarding the property known as the Peters Mine property (the "Property"), Westchester has issued an aggregate of 5,000,000 common shares to Guyana Goldfields Inc. in partial satisfaction of its obligations under such agreement. These common shares have a hold period expiring March 18, 2007. Pursuant to the Option Agreement, Westchester has been granted the right to earn a 50% percent interest in the Property by issuing these 5,000,000 common shares to Guyana Goldfields Inc., and by spending an aggregate of $5,000,000 in exploration expenditures on the Property over a three-year period.

About the Peters Mine Property

The Property consists of approximately 8,358 acres located approximately 160 kilometers southwest of Georgetown, the capital of in Guyana, South America.

The Peters Mine was the first significant gold producer in Guyana. Based on a review of historical government data and old company reports filed in the Guyana Geological and Mines Commission (GGMC) archive, Guyana Goldfields Inc. has determined that the Peter's Mine was put into production by a New York syndicate in 1904 and operated until 1909. The main workings of Peter's Mine consist of a 300-foot shaft with levels at 100, 200 and 300 feet below the collar, and an open pit whose floor is approximately at the 100-foot level. Mining widths underground varied from five to twenty seven (27) feet and all of the production came from interlacing quartz veins, with mill-head grades of approximately 41g/t Au. (1.19 oz/ton) As mining progressed, primary ore recoveries dropped significantly and the mine was forced to close in 1909 after producing approximately 40,000 ounces of gold (1371.2kg).

In the late 1960's, the United Nations, as part of a program to attract foreign investment to the newly independent country of Guyana, drilled seven diamond drill holes in the vicinity of the main shaft area. The United State Geological Survey (A.E. Weissenborn, 1966) reported that Hole UN-2 was successful in "intersecting the Peter's Mine structure at a high angle and traversed the entire known mineralized area. An extensive zone of quartz veins was cut between 539 and 591 ft (52ft), correlating with the downward projection of the West Branch vein, shows some encouraging assays. Some intercept samples from 539 to 544 ft and from 544 to 549 ft assayed 6.95 and 4.36 ounces per short ton respectively or an average of 5.66 ounces over a 10 ft. length."

Subsequent to the work done by the United Nations, Lion's Mines Limited of Vancouver acquired the Property and dewatered and rehabilitated the underground workings. A mining license was applied for, however a dispute with the government led to the abandonment of the project in the early 1970's.

The Property was then subject to a brief exploration program in the late 1980's by Homestake International Minerals Ltd.

Guyana Goldfields Inc. acquired the project in 1996 and conducted a limited diamond drilling campaign in the main shaft area over the next four years. Encouraging mineralized intercepts in this area included the following:

Table of Drill Holes
Hole # Mineralized Length (meters)
-------------------------------------------- Grade
From To Length (g/t Au)
MS-01 122.8 128.9 6.1 32.7
MS-07 125.1 130.3 5.2 13.87
MS-8 107.9 160.5 52.6 5.7
MS-18 11.8 14.0 2.2 26.5
74.0 96.0 22.0 1.84
MS-19 11.0 51.0 40.0 7.11
MS-31 30.5 57.1 26.6 7.6

The preceding drill holes were drilled prior to the adoption of National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101"); however Westchester considers the results to be reliable.

The potential quantity and grade of any mineralization on the Property is conceptual in nature and there has been insufficient exploration to define a mineral resource on the Property. It is uncertain if further exploration work will result in the definition, by NI 43-101 standards, of a mineral resource on the Property.

In 2005, the Property was subject to a detailed airborne geophysical survey consisting of radiometrics, electro-magnetic, and magnetometer surveys. This survey identified and outlined the primary mineralized control structure target as a major deformation zone with widths of 150 to 250 meters wide running north to south for a distance of 8 kilometers through the Property. This structure marks the contact between the granodiorite intrusive in the east and meta-volcanics in the west. This finding was further reinforced by results of geochemical work and ground mapping of historical as well as present artisanal workings. Throughout this trend, old shafts, adits and recent workings by itinerant miners, suggests that the historical Peters mine was a relatively small part of much larger regional structure.

Westchester Resources Inc believes that this structure has good potential to host significant additional gold mineralization. Westchester, as part of a 5,000 meter drill contract, is currently drilling south of the main shaft area and will be conducting an induced polarization (IP) survey to help direct the search for more drill targets.. It is anticipated that the IP survey will be completed in early 2007.

For further information regarding the Property, please refer to the technical report entitled "Peters Mine Project, Guyana" dated October 30, 2003 as amended January 20, 2004, prepared for Guyana Goldfields Inc. by D. George Cargill and N.N. Gow, and available on SEDAR at www.sedar.com as filed by Guyana Goldfields Inc. on January 29, 2004. This press release has been prepared under the supervision of Alexander Y. Po, M.Eng. P.Geo, who is a "qualified person" as defined in NI 43-101. Mr. Po is a Director of Guyana Goldfields Inc. with no other relationship to Westchester and has verified the data and sources of the data cited in this release.

About Westchester Resources

Westchester is a Canadian junior resource company. Westchester's shares trade on the TSX Venture Exchange under the symbol "WSR".

Please note: A map is available on CCNMatthews' website at the following link: http://www.ccnmatthews.com/docs/wsr1122.pdf

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, 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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