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VANCOUVER, Feb. 4 /CNW/ - Novawest Resources Inc. (TSXV - "NVE"; Frankfurt - "NWN"), and its Board of Directors are pleased to announce that the radiometric/mag/EM airborne survey on the Company's Center Uranium Project has been successfully completed. The helicopter-borne survey was flown over the company's 100-per-cent-owned, 265-claim, 31,088-acre (12,500-hectare) Center uranium property. The property is situated in the vicinity of the historic Chibougamau mining camp in Quebec. The airborne data is currently being analyzed by Novawest's geological team and geophysical consultants. The results will be announced once the final interpretation and processing report is received.
The company has added additional claims in the immediate vicinity by staking another 31 claims encompassing 1,240 acres adjacent to the Center Uranium Project.
In other business, the Company advises that further to its News Release of December 20, 2007, the private placement announced therein was closed on December 31, 2007 for aggregate proceeds to the Company of $800,000. A total of 4,000,000 shares and 2,250,000 share purchase warrants were issued. These securities have a hold period ending on May 2, 2008. The warrants, having an exercise price of $0.25, expire on December 31, 2009.
Novawest invites the public to visit its NEW website at http://www.Novawest.com or e-mail us at Novawest@Novawest.com to be added to the Company's e-mail list for press releases and updates.
ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.
"Patrick D. O'Brien"
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Patrick D. O'Brien - Chairman
Novawest invites the public to visit its "NEW" website at http://www.novawest.com or e-mail the company at novawest@novawest.com to be added to the company's e-mail list for press releases and updates.
S.E.C.Exemption12(g)3-2(b) File No. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS \
RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT
UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS
RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS
AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.