CALGARY, ALBERTA--(Marketwire - March 9, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

WestFire Energy Ltd. ("WestFire" or the "Company") (TSX:WFE) is pleased to announce that it has closed its previously announced public offering (the "Offering") of common shares ("Common Shares"). An aggregate of 4,862,000 Common Shares, including full exercise of the over-allotment option, were issued on a bought deal basis at a price of $9.05 per Common Share for gross proceeds of $44.0 million.

The Offering was co-led by Raymond James Ltd. and Scotia Capital Inc. and included CIBC World Markets Inc., Macquarie Capital Markets Canada Ltd., GMP Securities L.P., Casimir Capital Ltd., Desjardins Securities Inc., Jennings Capital Inc. and Stifel Nicolaus Canada Inc.

The net proceeds of the Offering will be used to expand WestFire's 2011 capital program and for general corporate purposes.

WestFire's common shares trade on the Toronto Stock Exchange under the symbol "WFE".

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.