Cliffs has no FWR options. They received warrants priced at .45 ... 7,375,000 full warrants to be exact.

Montreal, Québec, June 4, 2009 – Freewest Resources Canada Inc. (TSX-V : FWR) announces that it has completed a private placement with Cliffs Natural Resources Inc. of Cleveland, Ohio (NYSE : CLF)(Paris : CLF) by issuing 14,750,000 common shares to Cliffs at a price of $0.35 per share, for proceeds to Freewest of $5,162,500.

Each share is accompanied by one-half of a common share purchase warrant. Each full warrant entitles Cliffs to purchase one additional Freewest share at a price of $0.45 for two years.

The proceeds from the private placement will be used by Freewest primarily for exploration on its 100%-owned McFaulds Lake chromite property in northern Ontario.

“We are delighted to have completed this private placement with Cliffs Natural Resources” said Mackenzie I. Watson, President and Chief Executive Officer of Freewest. “Cliffs is an important global supplier of steelmaking raw materials and we look forward to having the company as one of our major shareholders.”

In connection with the private placement, Freewest granted Cliffs a right to participate in future equity financings by Freewest, so that Cliffs may retain its share ownership percentage in Freewest.

As a result of the private placement, there are 214,575,039 common shares of Freewest issued and outstanding, of which Cliffs holds 6.9%, without taking into account the exercise of warrants. The shares and warrants were issued by Freewest to a wholly-owned subsidiary of Cliffs. Under applicable securities legislation, the securities issued in the private placement are subject to a four-month hold period, expiring on October 4, 2009.

SRV