Freewest Resources Canada Inc. Appoints Special Committee and Financial Advisor

* Reuters is not responsible for the content in this press release.

Thu Oct 8, 2009 1:26pm EDT

  MONTREAL, QUEBEC, Oct 08 (MARKET WIRE) -- 
Freewest Resources Canada Inc. (TSX VENTURE: FWR) announces that it has
constituted a Special Committee of its Board of Directors to consider
Freewest's strategic alternatives following an announcement on October 5,
2009 by Noront Resources Ltd. that it intends to make an unsolicited
all-share offer for all of the outstanding shares of Freewest. According
to Noront's announcement, the offer will consist of one common share of
Noront for every four Freewest common shares.

    The Special Committee will evaluate all alternatives, which may include
the continued execution of Freewest's business plan, a divestiture or
spin-out of assets to Freewest's shareholders, or an amalgamation, plan
of arrangement, merger, sale or other business transaction involving
Freewest and a third party, and make recommendations thereon to the Board
of Directors.

    The Freewest Board members appointed to the Special Committee are George
Bryson and Edward Thompson, both of whom are long-serving, independent
members of the Freewest Board. 

    Freewest further announces that it has retained CIBC World Markets Inc.
to act as Freewest's exclusive financial advisor with respect to such
review and, if deemed appropriate by the Board of Directors, execution of
strategic alternatives.

    Speaking on behalf of the Board of Directors, Mackenzie I. Watson,
Freewest's President and Chief Executive Officer, has previously stated
that Freewest considers the unsolicited take-over offer announced by
Noront to be highly opportunistic and that the offer would significantly
undervalue Freewest's assets and future value-creation potential.

    The Board of Directors notes that no formal offer has been received from
Noront. The Board of Directors reiterates its advice that should such an
offer be made, shareholders not deposit any common shares of Freewest to
such Noront offer and not take any action concerning the offer until
Freewest shareholders have received further communication from the Board
of Directors of Freewest. Should such an offer be made, the Board of
Directors, after receiving advice from CIBC World Markets, will provide
further advice to shareholders.

    Freewest is a well-financed mineral exploration company. It is actively
exploring for gold, base-metals and chromite within eastern Canada.
Corporate information can be accessed on the Internet at
www.freewest.com. Freewest's shares are listed on the TSX Venture
Exchange under the symbol FWR.


 
 Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.

Contacts:
Freewest Resources Canada Inc.
Mackenzie I. Watson
President and CEO
(514) 878-3551 or 1-888-878-3551
(514) 878-4427 (FAX)
info@freewest.com
www.freewest.com

Bay Street Connect
Michael D'Amico
Investor Relations
(647) 500-6023

AGORACOM
Investor Relations
FWR@Agoracom.com
http://agoracom.com/ir/freewest

Copyright 2009, Market Wire, All rights reserved.

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