Stock Symbol: WGF: TSX-VEN
WESCAN GOLDFIELDS INC.
SASKATOON, Nov. 1 /CNW/ - Maurice (Moe) Lindsay, President of Wescan
Goldfields Inc. ("Wescan") is pleased to announce that Wescan has completed
and closed the previously announced purchase from Claude Resources Inc.
("Claude") of all their interest in the Jojay Gold Deposit. Pursuant to this
transaction, Wescan acquired an additional 75% participating interest in the
deposit, bringing its total participating interest in the property to 100%.
The Jojay Gold Deposit was formerly held by Wescan (25% and operator) and
Claude (75%) under a Joint Venture agreement. The Jojay Gold Deposit is
located in the LaRonge Greenstone Belt of northern Saskatchewan. Wescan
acquired Claude's interest by the issuance of three and one half million
(3.5 M) Wescan common shares on October 24, 2006.
M. Lindsay notes that "this acquisition further enhances Wescan's stated
strategy to consolidate and develop its gold holdings in Northern
Saskatchewan."
Wescan is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the TSX Venture exchange under the trading symbol "WGF".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
