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Discuss the various junior resource companies within the McFaulds Lake Area

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Message: Spider Playbook Update

Spider Playbook Update

posted on Mar 09, 2008 10:36PM

This is misleading as it gives us the projected positions if all the terms are met.At present the terms are stated in this news release from Mar.6 As of right now FWR has 50% and SPQ and KWG split 50%

March 6, 2008

Montreal, Quebec, Canada, March 6, 2008 – Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (FWR:TSX-V) (the “Company”) is pleased to provide an exploration update on the Company’s activities, currently ongoing on its McFaulds properties (the “Property”).

The Property consists of 9 mineral claims situated 3.8 kilometres northeast of the Eagle One and Eagle Two nickel-copper-platinum group element (PGE) occurrences of Noront Resources Ltd. Four (4) of the claims are wholly-owned by Freewest (Freewest claims), while the remaining 5 claims are under option to Spider Resources Inc. and KWG Resources Inc. (Freewest JV claims). Spider and KWG may earn a 50% interest in the 5 claims from Freewest by spending $3,000,000 on exploration over a 4-year period. They may earn a 60% interest by delivering a bankable feasibility study on any mineralization identified and a cumulative 65% interest by arranging project financing for Freewest to place such mineralization into commercial production. 

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