LAKEWOOD, CO, Nov. 14 /CNW/ - NewWest Gold Corporation (TSX: NWG)
("NewWest" or "the Company") today announced that it commenced the Phase Two
drilling program at its Long Canyon project on November 10, 2006. The program
was expanded to 13 holes from six holes based upon the positive results
obtained by previous exploration programs at Long Canyon. The objectives of
the Phase Two program are to test for extensions along strike and down-dip
from gold-bearing zones obtained in previous drilling and to confirm the
geologic interpretation developed from the Phase One drilling results and the
roadcut sampling and mapping program. Total footage to be drilled during
Phase Two is approximately 4,550 feet. Complete results from the Phase One
program were reported on September 21, 2006 and are available on the Company's
website at www.newwestgold.com. The roadcut rock chip sample results were
reported on October 31, 2006 and are also available on the Company's website.
Background
NewWest and AuEx Ventures Inc. ("AuEx") agreed by way of a letter of
intent to complete a definitive joint venture agreement for the Long Canyon
project whereby the two parties will combine their respective land positions
in the Long Canyon Area. Under the terms of the letter of intent, the Company
is the operator and may earn a 51% interest in the consolidated project if it
spends $5 million on the project over a five year period. After completion,
the Company may elect to carry AuEx through feasibility, if warranted, thereby
earning an additional 14%. The joint venture agreement is currently being
negotiated and is expected to be completed in the near future.
Qualified Person
Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is
NewWest's qualified person as defined by NI43-101 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, future exploration and
development plans, 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 prospectus dated
August 18, 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 Gold Corporation
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.
