NEWWEST GOLD CORP/ 2007 - 500 Beiträge pro Seite

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L6X
NEWWEST GOLD CORP Aktueller Kurs (Berlin, 29.06.2007 09:11)
Letzter Kurs: 2,00 Local-Id:
Veränd. abs.: +0,420 Symbol: L6X
Veränd. in %: +26,58 % ISIN: CA65336V1094

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09.05.2007 21:32
NewWest Gold Corporation Receives its First NI 43-101 Compliant Resource Estimate for Sandman Project
Lakewood, Colorado (ots/PRNewswire) -

- Brings Total NI 43-101 Compliant Measured and Indicated Resources to 1.8 Million Contained Gold Equivalent Ounces

NewWest Gold Corporation (TSX:NWG) ("NewWest"), today announced an 18% increase in its NI 43-101 compliant measured and indicated contained gold resources, bringing the total contained gold equivalent ounces attributable to NewWest's Northumberland, Zaca and Sandman projects to approximately 1.8 million ounces. In addition, NewWest has 239,000 contained gold equivalent ounces of inferred resources for those projects. Gold equivalent is calculated at a gold-silver ratio of 67:1. For a detailed resource table, please see the table attached at the end of this release or refer to the Gold Resources page of NewWest's website at www.newwestgold.com.

NewWest made the announcement after confirming its first National Instrument 43-101 (NI 43-101) compliant resource estimate at its entirely owned Sandman Project (Sandman) in Humboldt County, Nevada. This is the first NI 43-101 compliant resource estimate for Sandman and incorporates results from NewWest's 2006 Sandman exploration drilling program. NewWest expects to file its NI 43-101 technical report within 45 days from the date of this news release.

The initial Sandman resource consists of measured and indicated resources of 271,900 contained gold ounces and an additional inferred resource of 38,000 contained gold ounces (based on a 0.010 oz Au/ton cut-off for all of the shallow deposits and a 0.020 oz Au/ton cutoff for the deeper zones at the Southeast Pediment deposit).

The NI 43-101 resource estimate at Sandman is comprised of resources from four deposits: Abel Knoll, North Hill, Silica Ridge, and Southeast Pediment. As previously reported, drilling at all four deposits has encountered high-grade mineralization.

"This initial resource estimate for Sandman sets the stage for our 2007 program to expand the resources at the four deposits, all of which remain open, and to continue testing identified targets, some of which already contain drilled mineralization," said Stephen Alfers, President and Chief Executive Officer. "The Abel Knoll deposit discovered in 2006 illustrates the potential to discover new deposits through additional exploration that will add ounces to the Sandman resource base."

Resource Estimate

Mine Development Associates of Reno, Nevada prepared the NI 43-101 compliant resource estimate using the standard inverse distance weighting method. The resource consists of measured and indicated gold resources of 271,900 contained ounces (representing approximately 8,033,000 tons with an average grade of 0.034 oz Au/ton) and an additional 38,000 contained gold ounces of inferred resources (representing approximately 1,418,000 tons with an average grade of 0.027 oz Au/ton). The resources for each of the four known gold deposits are shown in Table 1.

Table 1 Resource Estimates for the Four Sandman Gold Deposits ------------------------------------------------------------------------- Measured& Measured Indicated Indicated Inferred Deposits Ounces Au Ounces Au Ounces Au Ounces Au ------------------------------------------------------------------------- Abel Knoll 6,200 27,900 34,100 21,600 ------------------------------------------------------------------------- North Hill 14,400 78,400 92,800 6,200 ------------------------------------------------------------------------- Silica Ridge 16,200 39,000 55,200 7,400 ------------------------------------------------------------------------- SE Pediment 45,300 44,500 89,800 2,800 ------------------------------------------------------------------------- TOTALS 82,100 189,800 271,900 38,000 ------------------------------------------------------------------------- - Resource is based on a 0.010 oz Au/ton cutoff for the Abel Knoll, North Hill, and Silica Ridge deposits, and 0.010 and 0.020 oz Au/ton cutoffs for the SE Pediment deposit.

The Sandman resource estimate is based on results from a total of 510 drill holes, 160 of which were drilled in 2006 within the resource calculation area. The 2006 drilling campaign consisted mainly of reverse-circulation rotary drilling augmented with some core drilling. The majority of the 2006 holes were step-outs drilled roughly on 100-foot centres making it possible to classify a large part of the resource into the measured and indicated categories.

2007 Sandman Exploration Program This month, NewWest will initiate Phase One of the 2007 Exploration Program at Sandman. This program is designed to accomplish three objectives: 1) Increase the resources at the known deposits by further defining and drilling structures which control mineralization. All of the deposits have some potential for discovering more ounces because the 2006 drilling program ended before mineralization was completely closed off by drill holes. Both the Abel Knoll and the North Hill deposits look especially promising because they are open in several directions; 2) Conduct follow-up drilling at the Sandbowl, Southeast Pediment West, and Windmill targets. Each of these targets includes strongly anomalous gold mineralization that was intercepted in holes drilled in 2006; and 3) Define and explore frontier target areas to discover new deposits that are as exciting and as significant as last year's frontier discovery of the Abel Knoll deposit.

NewWest will spend approximately US $0.6 million for reverse-circulation rotary drilling, geological research, and metallurgical scoping work during Phase One of the 2007 Sandman Exploration Program. Additionally, Phase One activities will include preparing a Plan of Operations for expanded exploration drilling at the North Hill and Silica Ridge deposits. NewWest will submit this permit application to state and federal regulatory agencies in the near future.

Phase Two of the 2007 Sandman Exploration Program is expected to consist of follow-up drilling on new discoveries identified by the 2007 Phase One drilling campaign, and district geochemical and geophysical surveys to identify new targets that are buried beneath the alluvial and wind-blown sand deposits that blanket the Sandman project area.

Qualified Person

All drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using fire assay on a 30 gram sample with an atomic absorption finish. Samples with higher grades were re-assayed by fire assay with a gravimetric determination. QA/QC included assays on rig duplicate splits, and the insertion of numerous standards and blanks into the sample stream. Assays were checked using ALS Chemex, also of Sparks, Nevada. Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development. Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

NewWest Gold Resource Table(1) ------------------------------------------------------------------------- Average Average Northumberland Gold Grade Silver Grade Contained Project(2)(3) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 12,998,000 0.053 - 693,000 ------------------------------------------------------------------------- Indicated Resources 17,912,000 0.076 - 1,365,000 ------------------------------------------------------------------------- Total Measured and Indicated Resources 30,910,000 0.067 - 2,058,000 ------------------------------------------------------------------------- Inferred Gold Resources 4,381,000 0.091 - 399,000 ------------------------------------------------------------------------- Inferred Silver Resources 35,291,000 - 0.145 - ------------------------------------------------------------------------- Total Inferred Resources 399,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Northumberland Contained Equivalent(4) Share Project(2)(3) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources - 693,000 277,000 --------------------------------------------------------------- Indicated Resources - 1,365,000 546,000 --------------------------------------------------------------- Total Measured and Indicated Resources - 2,058,000 823,000 --------------------------------------------------------------- Inferred Gold Resources - 399,000 160,000 --------------------------------------------------------------- Inferred Silver Resources 5,111,000 76,000 30,000 --------------------------------------------------------------- Total Inferred Resources 5,111,000 475,000 190,000 --------------------------------------------------------------- ------------------------------------------------------------------------- Average Average Zaca Gold Grade Silver Grade Contained Project(5) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 8,097,000 0.019 0.704 151,000 ------------------------------------------------------------------------- Indicated Resources 18,730,000 0.014 0.707 266,000 ------------------------------------------------------------------------- Total Measured and Indicated Resources 26,827,000 0.016 0.706 417,000 ------------------------------------------------------------------------- Total Inferred Resources 329,000 0.018 1.033 6,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Zaca Contained Equivalent(4) Share Project(5) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources 5,700,000 236,000 236,000 --------------------------------------------------------------- Indicated Resources 13,242,000 464,000 464,000 --------------------------------------------------------------- Total Measured and Indicated Resources 18,942,000 700,000 700,000 --------------------------------------------------------------- Total Inferred Resources 340,000 11,000 11,000 --------------------------------------------------------------- ------------------------------------------------------------------------- Average Average Sandman Gold Grade Silver Grade Contained Project(6) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 1,710,000 0.048 - 82,100 ------------------------------------------------------------------------- Indicated Resources 6,323,000 0.030 - 189,800 ------------------------------------------------------------------------- Total Measured and Indicated Resources 8,033,000 0.034 - 271,900 ------------------------------------------------------------------------- Total Inferred Resources 1,418,000 0.027 - 38,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Sandman Contained Equivalent(4) Share Project(6) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources - 82,100 82,100 --------------------------------------------------------------- Indicated Resources - 189,800 189,800 --------------------------------------------------------------- Total Measured and Indicated Resources - 271,900 271,900 --------------------------------------------------------------- Total Inferred Resources - 38,000 38,000 --------------------------------------------------------------- (1) Mineral resources have been estimated by Mine Development Associates ("MDA") in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in August 2000, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects. The mineral resources expressed in the tables above are based on the technical reports prepared by MDA as of July 24, 2006 with respect to the Northumberland Project, May 24, 2006 with respect to the Zaca Project and the May 2007 resource estimate with respect to the Sandman Project. NewWest expects to file its NI 43-101 technical report for Sandman within 45 days from the date of this news release. (2) Resources are shown at both 100% and a 40% proforma basis, assuming Newmont has earned its interest. Newmont can initially earn a 60% interest in the joint venture by completing US$25 million of expenditures on the property by the end of 2010. NewWest retains a 3% net smelter return royalty on 100% of the Northumberland resources. (3) The gold cut-off grades (expressed in ounces of gold per ton) for the Northumberland Project measured, indicated and inferred resources are 0.01 for oxide material, 0.04 for shallow sulfide material and 0.10 for deep sulfide material. The inferred silver resources include only silver lying within the modeled gold zones and within blocks that exceed the gold cut-off grades; no silver cut-off is applied. (4) Gold equivalent calculated at gold-silver ratio of 67:1. (5) The cut-off grade for the Zaca Project measured, indicated and inferred resources is 0.01 ounces of gold equivalent per ton. (6) The cut-off grade (expressed in ounces of gold per ton) for the Sandman Project measured, indicated and inferred resources is 0.01 for all of the shallow deposits and a 0.02 for the deeper zones at the Southeast Pediment deposit.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]

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10.05.2007 14:08
NewWest Gold Corporation Reports First Quarter Operating and Financial Results
Lakewood, Colorado (ots/PRNewswire) - NewWest Gold Corporation (TSX:NWG) ("NewWest"), an advanced gold exploration and development company located in Nevada's established gold trends, today announced its results for the first quarter ended March 31, 2007.

Financial Overview

The loss for the first quarter ended March 31, 2007 was US $1.5 million or US $0.03 per share, compared to US $0.9 million or US $0.02 per share during the same quarter in 2006. The change in net losses was mainly attributed to higher exploration costs from additional drilling.

NewWest's total assets at March 31, 2007 were US $25.9 million compared to total assets of US $27.5 million at December 31, 2006. NewWest's working capital as at March 31, 2007 was US $8.6 million, which the Company believes will meet its working capital needs and growth objectives through the remainder of fiscal 2007.

Full interim consolidated financial statements and notes, as well as management's discussion and analysis, are available on NewWest's website at www.newwestgold.com, or www.sedar.com.

Project Overview - In conjunction with recent drilling programs at the Sandman project, we verified and expanded gold mineralization at Silica Ridge and North Hill, and discovered new high-grade mineralization at Abel Knoll - The recent drilling programs at the Long Canyon project extended gold mineralization and confirmed the presence of multiple zones of gold mineralization - Some holes from the Phase Two 2006 drilling program at the Northumberland project encountered gold mineralization approaching underground mineable grades - Subsequent to quarter-end, we completed a first time resource at Sandman (compliant with NI 43-101) with measured and indicated gold resources of 271,900 contained ounces and inferred gold resources of 38,000 contained ounces (representing approximately 8.0 million tons with an average gold grade of 0.034 oz Au/ton for measured and indicated resources and approximately 1.4 million tons with an average gold grade of 0.027 oz Au/ton for inferred resources)

"This initial NI 43-101 compliant resource at Sandman brings our share of total measured and indicated resources to approximately 1.8 million contained gold equivalent ounces together with inferred resources of 239,000 contained gold equivalent ounces," said Steve Alfers, President and Chief Executive Officer. "In addition to Sandman, the progress we have made on our other high priority gold projects positions us for extending and discovering new mineralization together with adding more resource ounces."

Gold equivalent ounces are calculated at a gold-silver ratio of 67:1.

Sandman Project Update

In the first quarter of 2007, NewWest announced the results from the second of a two-phase 2006 drilling program at its Sandman project (Sandman). Sandman is an advanced exploration project spanning approximately 19,000 acres, entirely owned by NewWest. The entire 2006 drilling program at Sandman included 170 drill holes with total footage exceeding 60,000 feet. Specific achievements from the Phase Two drilling program are as follows:

- Expanded a newly discovered zone of mineralization at Abel Knoll; - Extended near-surface mineralization at Silica Ridge by 700 feet, where the mineralization remains open; and - Encountered a high-grade intercept at North Hill and extended mineable-grade gold mineralization, where the mineralization remains open

NewWest's successful drilling program enabled it to complete its first NI 43-101 compliant resource at the project subsequent to quarter-end, with measured and indicated gold resources of 271,900 contained ounces and another 38,000 contained ounces of inferred gold resources. This represents approximately 8.0 million tons with an average gold grade of 0.034 oz Au/ton for measured and indicated resources and approximately 1.4 million tons with an average gold grade of 0.027 oz Au/ton for inferred resources.

NewWest's focus for the 2007 drilling program is threefold. First, to increase the resources at the known deposits by further defining and drilling structures which control mineralization; second, to conduct follow-up drilling on three district targets and third, to define and explore frontier target areas to discover new deposits. All of the deposits have potential for discovering more ounces.

Long Canyon Project Update

In the first quarter of 2007, NewWest announced results from the second of a two-phase drilling program at the Long Canyon project (Long Canyon), one of NewWest's principal projects in the Eastern Great Basin area of Elko County, Nevada. The entire 2006 drilling program at Long Canyon consisted of 25 holes totaling 10,405 feet, and included construction of access roads, systematic geologic mapping and sampling. In addition to successfully extending the known mineralization, gold mineralization remains open in all directions and at depth. The 2007 exploration program will include core and reverse circulation drilling, surface and road cut mapping and sampling and aerial photography.

Northumberland Project Update

In the first quarter of 2007, NewWest announced results from the drilling program at its Northumberland project (Northumberland). The two-phase exploration drilling program was carried out by Newmont USA Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM) ("Newmont"), at a total cost of approximately US$3.0 million. The drilling program included 54 holes with a total footage of 55,357. The drilling program encountered excellent grades and thicknesses in step-outs from a previously discovered feeder system. While the feasibility has not been assessed, this suggests that a portion of the Zanzibar deposit may be exploitable by either open-pit or underground mining.

Qualified Person

James Ashton, P.E., Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Annual General Meeting

NewWest will host its first annual general meeting of shareholders on May 10, 2007 at 11 a.m. ET at The Toronto Board of Trade, Downtown Centre in Toronto, Ontario. Following the formal meeting, there will be a presentation by management and a question and answer session. A simultaneous live webcast will accompany the event and can be accessed at NewWest's website at www.newwestgold.com. The webcast will also be archived on the website.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development. Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced staged projects with measured and indicated resources. NewWest's goal is to advance its projects along the pipeline into production.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]


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25.06.2007 14:26
NewWest Gold Corporation Files NI 43-101 Technical Report for Sandman Project
Lakewood, Canada (ots/PRNewswire) -

- Phase One 2007 Drilling Program at Sandman Project Ongoing

NewWest Gold Corporation (TSX:NWG) ("NewWest"), today announced it has filed a National Instrument 43-101 (NI 43-101) report on SEDAR with respect to its Sandman project (Sandman). Located near the mining centre of Winnemuca in Humboldt County, Nevada, Sandman is an advanced exploration project entirely owned by NewWest. On May 9, 2007, NewWest announced it had received an NI 43- 101 compliant resource estimate at Sandman.

The NI 43-101 compliant measured and indicated resource brings the total contained gold equivalent ounces attributable to NewWest's Northumberland, Zaca and Sandman project to 595,100 measured gold ounces and 1,199,800 indicated gold ounces. NewWest also has 239,000 contained gold equivalent ounces of inferred resources for those projects. Gold equivalent is calculated at a gold-silver ratio of 67:1. For a detailed resource table, please refer to the Gold Resources page of NewWest's website at www.newwestgold.com. The NI 43-101 Technical Report can be accessed on SEDAR's website at www.sedar.com or NewWest's website at www.newwestgold.com.

Qualified Person

Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development.

Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]

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29.06.2007 00:55
Fronteer Development Group Inc. to Seek to Acquire NewWest Gold Corporation; Enters Into Agreement With Significant Shareholder

LAKEWOOD, Canada, June 28 /PRNewswire/ --

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Fronteer Development Group (Nachrichten) (TSX and AMEX - FRG)("Fronteer") and NewWest Gold Corporation (TSX- NWG)("NewWest") announced today that Fronteer has entered into a lock-up agreement (the "Lock-Up Agreement") with NWG Investments Inc. (the "Significant Shareholder"), the owner of approximately 86% of the outstanding common shares of NewWest, pursuant to which the Significant Shareholder has agreed to tender to and support a transaction (the "Proposed Transaction") whereby Fronteer would seek to acquire all of the outstanding common shares of NewWest on the basis of 0.26 of one common share of Fronteer for each common share of NewWest.

Fronteer and NewWest have entered into a mutual confidentiality agreement pursuant to which NewWest has granted to Fronteer a 30 day exclusivity period in which to complete due diligence and pursuant to which NewWest has agreed not to solicit other proposals. Fronteer and the Significant Shareholder have also entered into an exclusivity agreement pursuant to which the Significant Shareholder has agreed not to solicit other proposals for a 30 day period. The Lock-Up Agreement permits the Significant Shareholder to tender its NewWest common shares to a superior transaction in certain circumstances and subject to certain conditions, including offering Fronteer an opportunity to match any such proposal and the payment by the Significant Shareholder of a termination fee to Fronteer in the amount of C$5.6 million.

Fronteer's obligation to proceed with the Proposed Transaction is subject to a number of conditions including Fronteer being satisfied, in its sole and absolute discretion, with its due diligence investigations. The Significant Shareholder can terminate the Lock-Up Agreement in certain circumstances, including if Fronteer has not made an offer to all holders of NewWest common shares by August 17, 2007. Under the Proposed Transaction, the exchange ratio of 0.26 common shares of Fronteer for each issued share of NewWest represents a value of approximately C$3.20 per share based upon the closing price of Fronteer on the TSX on June 28, 2007. This represents a premium of 36.17% to the closing price of NewWest's shares on the TSX on June 28, 2007 and 37.93% based on the 20 day volume weighted average trading price of NewWest's common shares on the TSX.

There are currently 67,857,681 Fronteer common shares outstanding and 58,392,000 NewWest common shares outstanding. Should the Proposed Transaction be completed and Fronteer acquires 100% of the NewWest common shares, current Fronteer shareholders would own approximately 81.7% of Fronteer and current NewWest shareholders would own approximately 18.3% of Fronteer.

A special committee of the NewWest board of directors has been established to consider the transaction. The committee has not yet made any recommendation to the board of directors of NewWest in respect of the proposed transaction.

NewWest has engaged GMP Securities L.P. as its financial advisor and Stikeman Elliott LLP as its legal advisor. Fronteer's financial advisor is Canaccord Capital Corporation and its legal counsel is Cassels Brock & Blackwell LLP. The Significant Shareholder is being advised by Goodmans LLP.

No agreements have been reached between NewWest and Fronteer, other than the confidentiality agreements described above. There can be no assurances that any agreements will be reached or that a transaction will result.

ABOUT FRONTEER

Fronteer is an exploration and development company with a track record of making big discoveries. Not including the results of the above transaction, Fronteer will have exposure to approximately C$42 million in exploration/development expenditures and 130,000 metres of drilling throughout 2007. Fronteer has approximately $105 million in cash, no debt, and holds approximately a 46.8% interest in Aurora Energy Resources (AXU - TSX), a leading Canadian uranium company with a market valuation in excess of C$1.1 billion.

For further information on Fronteer visit www.fronteergroup.com

ABOUT NEWWEST

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

For further information on NewWest visit www.newwestgold.com

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, a transaction with Fronteer, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development.

Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.




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NEWWEST GOLD CORP Aktueller Kurs (Berlin, 29.06.2007 09:11)
Letzter Kurs: 2,00 Local-Id:
Veränd. abs.: +0,420 Symbol: L6X
Veränd. in %: +26,58 % ISIN: CA65336V1094
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#1 von gerdass 30.06.07 15:55:50 Beitrag Nr.: 30.407.841
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L6X
NEWWEST GOLD CORP Aktueller Kurs (Berlin, 29.06.2007 09:11)
Letzter Kurs: 2,00 Local-Id:
Veränd. abs.: +0,420 Symbol: L6X
Veränd. in %: +26,58 % ISIN: CA65336V1094



#2 von gerdass 30.06.07 15:56:44 Beitrag Nr.: 30.407.848
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#3 von coolrunning 01.07.07 14:25:18 Beitrag Nr.: 30.427.187
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09.05.2007 21:32
NewWest Gold Corporation Receives its First NI 43-101 Compliant Resource Estimate for Sandman Project
Lakewood, Colorado (ots/PRNewswire) -

- Brings Total NI 43-101 Compliant Measured and Indicated Resources to 1.8 Million Contained Gold Equivalent Ounces

NewWest Gold Corporation (TSX:NWG) ("NewWest"), today announced an 18% increase in its NI 43-101 compliant measured and indicated contained gold resources, bringing the total contained gold equivalent ounces attributable to NewWest's Northumberland, Zaca and Sandman projects to approximately 1.8 million ounces. In addition, NewWest has 239,000 contained gold equivalent ounces of inferred resources for those projects. Gold equivalent is calculated at a gold-silver ratio of 67:1. For a detailed resource table, please see the table attached at the end of this release or refer to the Gold Resources page of NewWest's website at www.newwestgold.com.

NewWest made the announcement after confirming its first National Instrument 43-101 (NI 43-101) compliant resource estimate at its entirely owned Sandman Project (Sandman) in Humboldt County, Nevada. This is the first NI 43-101 compliant resource estimate for Sandman and incorporates results from NewWest's 2006 Sandman exploration drilling program. NewWest expects to file its NI 43-101 technical report within 45 days from the date of this news release.

The initial Sandman resource consists of measured and indicated resources of 271,900 contained gold ounces and an additional inferred resource of 38,000 contained gold ounces (based on a 0.010 oz Au/ton cut-off for all of the shallow deposits and a 0.020 oz Au/ton cutoff for the deeper zones at the Southeast Pediment deposit).

The NI 43-101 resource estimate at Sandman is comprised of resources from four deposits: Abel Knoll, North Hill, Silica Ridge, and Southeast Pediment. As previously reported, drilling at all four deposits has encountered high-grade mineralization.

"This initial resource estimate for Sandman sets the stage for our 2007 program to expand the resources at the four deposits, all of which remain open, and to continue testing identified targets, some of which already contain drilled mineralization," said Stephen Alfers, President and Chief Executive Officer. "The Abel Knoll deposit discovered in 2006 illustrates the potential to discover new deposits through additional exploration that will add ounces to the Sandman resource base."

Resource Estimate

Mine Development Associates of Reno, Nevada prepared the NI 43-101 compliant resource estimate using the standard inverse distance weighting method. The resource consists of measured and indicated gold resources of 271,900 contained ounces (representing approximately 8,033,000 tons with an average grade of 0.034 oz Au/ton) and an additional 38,000 contained gold ounces of inferred resources (representing approximately 1,418,000 tons with an average grade of 0.027 oz Au/ton). The resources for each of the four known gold deposits are shown in Table 1.

Table 1 Resource Estimates for the Four Sandman Gold Deposits ------------------------------------------------------------------------- Measured& Measured Indicated Indicated Inferred Deposits Ounces Au Ounces Au Ounces Au Ounces Au ------------------------------------------------------------------------- Abel Knoll 6,200 27,900 34,100 21,600 ------------------------------------------------------------------------- North Hill 14,400 78,400 92,800 6,200 ------------------------------------------------------------------------- Silica Ridge 16,200 39,000 55,200 7,400 ------------------------------------------------------------------------- SE Pediment 45,300 44,500 89,800 2,800 ------------------------------------------------------------------------- TOTALS 82,100 189,800 271,900 38,000 ------------------------------------------------------------------------- - Resource is based on a 0.010 oz Au/ton cutoff for the Abel Knoll, North Hill, and Silica Ridge deposits, and 0.010 and 0.020 oz Au/ton cutoffs for the SE Pediment deposit.

The Sandman resource estimate is based on results from a total of 510 drill holes, 160 of which were drilled in 2006 within the resource calculation area. The 2006 drilling campaign consisted mainly of reverse-circulation rotary drilling augmented with some core drilling. The majority of the 2006 holes were step-outs drilled roughly on 100-foot centres making it possible to classify a large part of the resource into the measured and indicated categories.

2007 Sandman Exploration Program This month, NewWest will initiate Phase One of the 2007 Exploration Program at Sandman. This program is designed to accomplish three objectives: 1) Increase the resources at the known deposits by further defining and drilling structures which control mineralization. All of the deposits have some potential for discovering more ounces because the 2006 drilling program ended before mineralization was completely closed off by drill holes. Both the Abel Knoll and the North Hill deposits look especially promising because they are open in several directions; 2) Conduct follow-up drilling at the Sandbowl, Southeast Pediment West, and Windmill targets. Each of these targets includes strongly anomalous gold mineralization that was intercepted in holes drilled in 2006; and 3) Define and explore frontier target areas to discover new deposits that are as exciting and as significant as last year's frontier discovery of the Abel Knoll deposit.

NewWest will spend approximately US $0.6 million for reverse-circulation rotary drilling, geological research, and metallurgical scoping work during Phase One of the 2007 Sandman Exploration Program. Additionally, Phase One activities will include preparing a Plan of Operations for expanded exploration drilling at the North Hill and Silica Ridge deposits. NewWest will submit this permit application to state and federal regulatory agencies in the near future.

Phase Two of the 2007 Sandman Exploration Program is expected to consist of follow-up drilling on new discoveries identified by the 2007 Phase One drilling campaign, and district geochemical and geophysical surveys to identify new targets that are buried beneath the alluvial and wind-blown sand deposits that blanket the Sandman project area.

Qualified Person

All drill samples were collected following standard industry practice and were assayed by American Assay Laboratories, Inc. of Sparks, Nevada. Gold results were determined using fire assay on a 30 gram sample with an atomic absorption finish. Samples with higher grades were re-assayed by fire assay with a gravimetric determination. QA/QC included assays on rig duplicate splits, and the insertion of numerous standards and blanks into the sample stream. Assays were checked using ALS Chemex, also of Sparks, Nevada. Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development. Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

NewWest Gold Resource Table(1) ------------------------------------------------------------------------- Average Average Northumberland Gold Grade Silver Grade Contained Project(2)(3) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 12,998,000 0.053 - 693,000 ------------------------------------------------------------------------- Indicated Resources 17,912,000 0.076 - 1,365,000 ------------------------------------------------------------------------- Total Measured and Indicated Resources 30,910,000 0.067 - 2,058,000 ------------------------------------------------------------------------- Inferred Gold Resources 4,381,000 0.091 - 399,000 ------------------------------------------------------------------------- Inferred Silver Resources 35,291,000 - 0.145 - ------------------------------------------------------------------------- Total Inferred Resources 399,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Northumberland Contained Equivalent(4) Share Project(2)(3) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources - 693,000 277,000 --------------------------------------------------------------- Indicated Resources - 1,365,000 546,000 --------------------------------------------------------------- Total Measured and Indicated Resources - 2,058,000 823,000 --------------------------------------------------------------- Inferred Gold Resources - 399,000 160,000 --------------------------------------------------------------- Inferred Silver Resources 5,111,000 76,000 30,000 --------------------------------------------------------------- Total Inferred Resources 5,111,000 475,000 190,000 --------------------------------------------------------------- ------------------------------------------------------------------------- Average Average Zaca Gold Grade Silver Grade Contained Project(5) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 8,097,000 0.019 0.704 151,000 ------------------------------------------------------------------------- Indicated Resources 18,730,000 0.014 0.707 266,000 ------------------------------------------------------------------------- Total Measured and Indicated Resources 26,827,000 0.016 0.706 417,000 ------------------------------------------------------------------------- Total Inferred Resources 329,000 0.018 1.033 6,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Zaca Contained Equivalent(4) Share Project(5) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources 5,700,000 236,000 236,000 --------------------------------------------------------------- Indicated Resources 13,242,000 464,000 464,000 --------------------------------------------------------------- Total Measured and Indicated Resources 18,942,000 700,000 700,000 --------------------------------------------------------------- Total Inferred Resources 340,000 11,000 11,000 --------------------------------------------------------------- ------------------------------------------------------------------------- Average Average Sandman Gold Grade Silver Grade Contained Project(6) Tons (oz Au/ton) (oz Ag/ton) Gold (oz) ------------------------------------------------------------------------- Measured Resources 1,710,000 0.048 - 82,100 ------------------------------------------------------------------------- Indicated Resources 6,323,000 0.030 - 189,800 ------------------------------------------------------------------------- Total Measured and Indicated Resources 8,033,000 0.034 - 271,900 ------------------------------------------------------------------------- Total Inferred Resources 1,418,000 0.027 - 38,000 ------------------------------------------------------------------------- --------------------------------------------------------------- Contained Gold NewWest's Sandman Contained Equivalent(4) Share Project(6) Silver (oz) (oz Au-eq) (oz Au-eq) --------------------------------------------------------------- Measured Resources - 82,100 82,100 --------------------------------------------------------------- Indicated Resources - 189,800 189,800 --------------------------------------------------------------- Total Measured and Indicated Resources - 271,900 271,900 --------------------------------------------------------------- Total Inferred Resources - 38,000 38,000 --------------------------------------------------------------- (1) Mineral resources have been estimated by Mine Development Associates ("MDA") in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in August 2000, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects. The mineral resources expressed in the tables above are based on the technical reports prepared by MDA as of July 24, 2006 with respect to the Northumberland Project, May 24, 2006 with respect to the Zaca Project and the May 2007 resource estimate with respect to the Sandman Project. NewWest expects to file its NI 43-101 technical report for Sandman within 45 days from the date of this news release. (2) Resources are shown at both 100% and a 40% proforma basis, assuming Newmont has earned its interest. Newmont can initially earn a 60% interest in the joint venture by completing US$25 million of expenditures on the property by the end of 2010. NewWest retains a 3% net smelter return royalty on 100% of the Northumberland resources. (3) The gold cut-off grades (expressed in ounces of gold per ton) for the Northumberland Project measured, indicated and inferred resources are 0.01 for oxide material, 0.04 for shallow sulfide material and 0.10 for deep sulfide material. The inferred silver resources include only silver lying within the modeled gold zones and within blocks that exceed the gold cut-off grades; no silver cut-off is applied. (4) Gold equivalent calculated at gold-silver ratio of 67:1. (5) The cut-off grade for the Zaca Project measured, indicated and inferred resources is 0.01 ounces of gold equivalent per ton. (6) The cut-off grade (expressed in ounces of gold per ton) for the Sandman Project measured, indicated and inferred resources is 0.01 for all of the shallow deposits and a 0.02 for the deeper zones at the Southeast Pediment deposit.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]

running


#4 von coolrunning 01.07.07 14:26:23 Beitrag Nr.: 30.427.225
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10.05.2007 14:08
NewWest Gold Corporation Reports First Quarter Operating and Financial Results
Lakewood, Colorado (ots/PRNewswire) - NewWest Gold Corporation (TSX:NWG) ("NewWest"), an advanced gold exploration and development company located in Nevada's established gold trends, today announced its results for the first quarter ended March 31, 2007.

Financial Overview

The loss for the first quarter ended March 31, 2007 was US $1.5 million or US $0.03 per share, compared to US $0.9 million or US $0.02 per share during the same quarter in 2006. The change in net losses was mainly attributed to higher exploration costs from additional drilling.

NewWest's total assets at March 31, 2007 were US $25.9 million compared to total assets of US $27.5 million at December 31, 2006. NewWest's working capital as at March 31, 2007 was US $8.6 million, which the Company believes will meet its working capital needs and growth objectives through the remainder of fiscal 2007.

Full interim consolidated financial statements and notes, as well as management's discussion and analysis, are available on NewWest's website at www.newwestgold.com, or www.sedar.com.

Project Overview - In conjunction with recent drilling programs at the Sandman project, we verified and expanded gold mineralization at Silica Ridge and North Hill, and discovered new high-grade mineralization at Abel Knoll - The recent drilling programs at the Long Canyon project extended gold mineralization and confirmed the presence of multiple zones of gold mineralization - Some holes from the Phase Two 2006 drilling program at the Northumberland project encountered gold mineralization approaching underground mineable grades - Subsequent to quarter-end, we completed a first time resource at Sandman (compliant with NI 43-101) with measured and indicated gold resources of 271,900 contained ounces and inferred gold resources of 38,000 contained ounces (representing approximately 8.0 million tons with an average gold grade of 0.034 oz Au/ton for measured and indicated resources and approximately 1.4 million tons with an average gold grade of 0.027 oz Au/ton for inferred resources)

"This initial NI 43-101 compliant resource at Sandman brings our share of total measured and indicated resources to approximately 1.8 million contained gold equivalent ounces together with inferred resources of 239,000 contained gold equivalent ounces," said Steve Alfers, President and Chief Executive Officer. "In addition to Sandman, the progress we have made on our other high priority gold projects positions us for extending and discovering new mineralization together with adding more resource ounces."

Gold equivalent ounces are calculated at a gold-silver ratio of 67:1.

Sandman Project Update

In the first quarter of 2007, NewWest announced the results from the second of a two-phase 2006 drilling program at its Sandman project (Sandman). Sandman is an advanced exploration project spanning approximately 19,000 acres, entirely owned by NewWest. The entire 2006 drilling program at Sandman included 170 drill holes with total footage exceeding 60,000 feet. Specific achievements from the Phase Two drilling program are as follows:

- Expanded a newly discovered zone of mineralization at Abel Knoll; - Extended near-surface mineralization at Silica Ridge by 700 feet, where the mineralization remains open; and - Encountered a high-grade intercept at North Hill and extended mineable-grade gold mineralization, where the mineralization remains open

NewWest's successful drilling program enabled it to complete its first NI 43-101 compliant resource at the project subsequent to quarter-end, with measured and indicated gold resources of 271,900 contained ounces and another 38,000 contained ounces of inferred gold resources. This represents approximately 8.0 million tons with an average gold grade of 0.034 oz Au/ton for measured and indicated resources and approximately 1.4 million tons with an average gold grade of 0.027 oz Au/ton for inferred resources.

NewWest's focus for the 2007 drilling program is threefold. First, to increase the resources at the known deposits by further defining and drilling structures which control mineralization; second, to conduct follow-up drilling on three district targets and third, to define and explore frontier target areas to discover new deposits. All of the deposits have potential for discovering more ounces.

Long Canyon Project Update

In the first quarter of 2007, NewWest announced results from the second of a two-phase drilling program at the Long Canyon project (Long Canyon), one of NewWest's principal projects in the Eastern Great Basin area of Elko County, Nevada. The entire 2006 drilling program at Long Canyon consisted of 25 holes totaling 10,405 feet, and included construction of access roads, systematic geologic mapping and sampling. In addition to successfully extending the known mineralization, gold mineralization remains open in all directions and at depth. The 2007 exploration program will include core and reverse circulation drilling, surface and road cut mapping and sampling and aerial photography.

Northumberland Project Update

In the first quarter of 2007, NewWest announced results from the drilling program at its Northumberland project (Northumberland). The two-phase exploration drilling program was carried out by Newmont USA Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM) ("Newmont"), at a total cost of approximately US$3.0 million. The drilling program included 54 holes with a total footage of 55,357. The drilling program encountered excellent grades and thicknesses in step-outs from a previously discovered feeder system. While the feasibility has not been assessed, this suggests that a portion of the Zanzibar deposit may be exploitable by either open-pit or underground mining.

Qualified Person

James Ashton, P.E., Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Annual General Meeting

NewWest will host its first annual general meeting of shareholders on May 10, 2007 at 11 a.m. ET at The Toronto Board of Trade, Downtown Centre in Toronto, Ontario. Following the formal meeting, there will be a presentation by management and a question and answer session. A simultaneous live webcast will accompany the event and can be accessed at NewWest's website at www.newwestgold.com. The webcast will also be archived on the website.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development. Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced staged projects with measured and indicated resources. NewWest's goal is to advance its projects along the pipeline into production.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]


running


#5 von coolrunning 01.07.07 14:27:20 Beitrag Nr.: 30.427.256
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25.06.2007 14:26
NewWest Gold Corporation Files NI 43-101 Technical Report for Sandman Project
Lakewood, Canada (ots/PRNewswire) -

- Phase One 2007 Drilling Program at Sandman Project Ongoing

NewWest Gold Corporation (TSX:NWG) ("NewWest"), today announced it has filed a National Instrument 43-101 (NI 43-101) report on SEDAR with respect to its Sandman project (Sandman). Located near the mining centre of Winnemuca in Humboldt County, Nevada, Sandman is an advanced exploration project entirely owned by NewWest. On May 9, 2007, NewWest announced it had received an NI 43- 101 compliant resource estimate at Sandman.

The NI 43-101 compliant measured and indicated resource brings the total contained gold equivalent ounces attributable to NewWest's Northumberland, Zaca and Sandman project to 595,100 measured gold ounces and 1,199,800 indicated gold ounces. NewWest also has 239,000 contained gold equivalent ounces of inferred resources for those projects. Gold equivalent is calculated at a gold-silver ratio of 67:1. For a detailed resource table, please refer to the Gold Resources page of NewWest's website at www.newwestgold.com. The NI 43-101 Technical Report can be accessed on SEDAR's website at www.sedar.com or NewWest's website at www.newwestgold.com.

Qualified Person

Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.

Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development.

Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise.

About NewWest

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

ots Originaltext: NewWest Gold Corporation Im Internet recherchierbar: http://www.presseportal.de

Contact: For further information: NewWest Gold Corporation, Stephen Alfers, President and Chief Executive Officer, Tel: [phone], Fax: [phone], [e-mail]

running


#6 von coolrunning 01.07.07 14:28:18 Beitrag Nr.: 30.427.287
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29.06.2007 00:55
Fronteer Development Group Inc. to Seek to Acquire NewWest Gold Corporation; Enters Into Agreement With Significant Shareholder

LAKEWOOD, Canada, June 28 /PRNewswire/ --

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Fronteer Development Group (Nachrichten) (TSX and AMEX - FRG)("Fronteer") and NewWest Gold Corporation (TSX- NWG)("NewWest") announced today that Fronteer has entered into a lock-up agreement (the "Lock-Up Agreement") with NWG Investments Inc. (the "Significant Shareholder"), the owner of approximately 86% of the outstanding common shares of NewWest, pursuant to which the Significant Shareholder has agreed to tender to and support a transaction (the "Proposed Transaction") whereby Fronteer would seek to acquire all of the outstanding common shares of NewWest on the basis of 0.26 of one common share of Fronteer for each common share of NewWest.

Fronteer and NewWest have entered into a mutual confidentiality agreement pursuant to which NewWest has granted to Fronteer a 30 day exclusivity period in which to complete due diligence and pursuant to which NewWest has agreed not to solicit other proposals. Fronteer and the Significant Shareholder have also entered into an exclusivity agreement pursuant to which the Significant Shareholder has agreed not to solicit other proposals for a 30 day period. The Lock-Up Agreement permits the Significant Shareholder to tender its NewWest common shares to a superior transaction in certain circumstances and subject to certain conditions, including offering Fronteer an opportunity to match any such proposal and the payment by the Significant Shareholder of a termination fee to Fronteer in the amount of C$5.6 million.

Fronteer's obligation to proceed with the Proposed Transaction is subject to a number of conditions including Fronteer being satisfied, in its sole and absolute discretion, with its due diligence investigations. The Significant Shareholder can terminate the Lock-Up Agreement in certain circumstances, including if Fronteer has not made an offer to all holders of NewWest common shares by August 17, 2007. Under the Proposed Transaction, the exchange ratio of 0.26 common shares of Fronteer for each issued share of NewWest represents a value of approximately C$3.20 per share based upon the closing price of Fronteer on the TSX on June 28, 2007. This represents a premium of 36.17% to the closing price of NewWest's shares on the TSX on June 28, 2007 and 37.93% based on the 20 day volume weighted average trading price of NewWest's common shares on the TSX.

There are currently 67,857,681 Fronteer common shares outstanding and 58,392,000 NewWest common shares outstanding. Should the Proposed Transaction be completed and Fronteer acquires 100% of the NewWest common shares, current Fronteer shareholders would own approximately 81.7% of Fronteer and current NewWest shareholders would own approximately 18.3% of Fronteer.

A special committee of the NewWest board of directors has been established to consider the transaction. The committee has not yet made any recommendation to the board of directors of NewWest in respect of the proposed transaction.

NewWest has engaged GMP Securities L.P. as its financial advisor and Stikeman Elliott LLP as its legal advisor. Fronteer's financial advisor is Canaccord Capital Corporation and its legal counsel is Cassels Brock & Blackwell LLP. The Significant Shareholder is being advised by Goodmans LLP.

No agreements have been reached between NewWest and Fronteer, other than the confidentiality agreements described above. There can be no assurances that any agreements will be reached or that a transaction will result.

ABOUT FRONTEER

Fronteer is an exploration and development company with a track record of making big discoveries. Not including the results of the above transaction, Fronteer will have exposure to approximately C$42 million in exploration/development expenditures and 130,000 metres of drilling throughout 2007. Fronteer has approximately $105 million in cash, no debt, and holds approximately a 46.8% interest in Aurora Energy Resources (AXU - TSX), a leading Canadian uranium company with a market valuation in excess of C$1.1 billion.

For further information on Fronteer visit www.fronteergroup.com

ABOUT NEWWEST

NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced-stage projects with measured and indicated resources. NewWest's goal is to move its projects into production.

For further information on NewWest visit www.newwestgold.com

This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, a transaction with Fronteer, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development.

Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's Annual Information Form as of December 31, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.




running


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[gerdass]

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NWG / CAD 3,29
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05.07.2007 3,20
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40.632
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[gerdass]

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[gerdass]

Antwort auf Beitrag Nr.: 30.407.841 von gerdass am 30.06.07 15:55:50