Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Boatboy

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CLF ownership clarification

posted on Nov 16, 2010 02:52PM

CLIFFS' INTEREST IN KWG AT 19.3%

Symbol on TSX Venture Exchange: KWG
Shares issued and outstanding: 589,613,956

MONTRÉAL, Nov. 16 /CNW/ - KWG Resources Inc. ("KWG" or "the Company") advises that Cliffs Greene B.V. ("Cliffs") presently owns 19.3% of KWG's equity on a fully diluted basis. Incorrect information was published in KWG's news release yesterday, November 15, 2010.

Cliffs is the registered holder of 111,733,215 of KWG's 589,613,956 outstanding common shares. Cliffs also holds 48,460,049 of KWG's 160,193,264 outstanding warrants. KWG also has 55,856,780 incentive stock options outstanding at present.

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