Freewest Resources Canada Inc
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Freewest continues with airborne survey at McFaulds

2007-11-15 12:38 ET - News Release

Mr. Mackenzie Watson reports

FREEWEST UPDATES EXPLORATION ACTIVITIES ON ITS MCFAULDS PROPERTY, NORTHERN ONTARIO

Freewest Resources Canada Inc. has an exploration update on the company's McFaulds property. The property consists of nine mineral claims comprising 22.7 square kilometres and is located 3.8 kilometres northeast of the Double Eagle nickel-copper-platinum group element (PGE) deposit, recently discovered by Noront Resources Ltd. The subject properties are located in the Sachigo greenstone belt approximately 300 kilometres north of the town of Nakina, in the James Bay Lowlands of Northern Ontario.

Double Eagle nickel-copper-platinum group element deposit

The Double Eagle deposit has yielded some exceptional grades including 1.84 per cent nickel, 1.53 per cent copper, 1.14 grams per tonne platinum and 3.49 g/t palladium over 36.0 metres (NOT-07-01) as well as 5.09 per cent nickel, 3.10 per cent copper, 2.78 g/t platinum and 9.78 g/t palladium over 68.3 metres in hole NOT-07-05. The deposit occurs in komatiitic rocks described as peridotites, within the basal lower-most portion of the volcanic pile comprising the southern limb of the Sachigo greenstone belt. It is intimately associated with a discrete magnetic anomaly and a coincident electromagnetic anomaly.

Freewest's McFaulds property

Based on an archived airborne geophysical survey flown in 2003 and geological evidence, Freewest's McFaulds property likely covers the northeasterly extension of the same belt of komatiitic rocks that hosts the Double Eagle deposit. Additionally, the komatiites on Freewest's property are associated with a series of magnetic highs and electromagnetic conductor clusters that are similar to the geophysical signature of the Double Eagle deposit. These anomalies are of immediate exploration interest and are prime targets for diamond drilling.

Four of the nine mineral claims (10 square kilometres) comprising the McFaulds property are wholly owned by Freewest Resources. The remaining five mineral claims or 12.7 square kilometres are currently under option to Spider Resources Inc. and KWG Resources Inc (Freewest JV). On the latter, Spider and KWG may earn a 50-per-cent interest in them by spending $3-million on exploration over a four-year period. They may earn a 60-per-cent interest by delivering a bankable feasibility study on any mineralization identified and a cumulative 65 per cent by arranging project financing for Freewest to put such mineralization into commercial production. Spider and KWG recently announced that they intend on spending $2-million on drilling select airborne and ground geophysical anomalies on the Freewest JV in the winter of 2008 (see Spider Resources Inc. news in Stockwatch on Oct. 1, 2007).

Current Freewest exploration program

A detailed airborne geophysical survey is currently being flown for the company over its entirety, at 100-metre-line centres. The detailed survey will yield greater definition and resolution of anomalies than those defined by the earlier survey flown at 300-metre-line spacing in 2003. It is being completed by Aeroquest International using the AeroTEM II helicopter-borne time domain system and it is anticipated that preliminary results will be available to the company in early December.

In anticipation of receiving the detailed airborne geophysical results, the company has commenced a propertywide line cutting program, to facilitate the completion of ground geophysical surveys. These will include horizontal loop electromagnetic, magnetic and possibly gravity surveys. The intent of the ground surveys is to further refine the location, tenor and nature of the airborne geophysical anomalies in preparation for diamond drilling. The ground geophysical survey will commence immediately following the completion of the line cutting.

The company is also sampling two critical drill holes that were completed earlier on the property. Both of the drill holes intersected thick sections of komatiitic rocks (up to 180 metres) that were only sampled locally. One of the holes FW-06-03, completed on the Freewest JV portion of the property, intersected high-grade chrome mineralization with anomalous nickel, copper and platinum group element mineralization within peridotite. Petrographic and geochemical analyses of the drill core will yield additional information on the nickel-copper-platinum group element mineralizing system in preparation for diamond drilling.

Donald Hoy, PGeo (Ontario), vice-president of exploration and a director of Freewest Resources Canada, is the qualified person on the McFaulds project and is responsible for the preparation of this news release.