NewWest Gold Corporation Announces Exercise of Over-Allotment Option

Lakewood, Colorado (ots/PRNewswire) -

- Not for Distribution to United States Wire Services or for
Dissemination in The United States

NewWest Gold Corporation (TSX:NWG) ("NewWest") today announced the
exercise of the over-allotment option granted in accordance with
NewWest's recent initial public offering (IPO).

The exercise of the over-allotment will result in the issuance of
an additional 192,000 common shares of NewWest, at the IPO price of
C$2.50 per share, for total gross proceeds of C$480,000. Following
the exercise of the over-allotment, the total gross proceeds raised
in NewWest's IPO will be approximately C$21.0 million. Total common
shares issued will be 8,392,000 with 58,392,000 outstanding.

The NewWest offering was sold through an underwriting syndicate of
Canaccord Capital Corporation, GMP Securities L.P. and Wellington
West Capital Markets Inc. Canaccord Capital Corporation acted as lead
underwriter of the syndicate.

In connection with the closing of NewWest's IPO on August 29,
2006, NewWest granted the underwriters an over-allotment option to
purchase an additional number of shares at the IPO Price equal to 15%
of the underwritten shares for a period of 30 days following the
closing of the offering.

The closing of the over-allotment option and the admission of the
additional shares for trading on the TSX is expected to occur during
the week of October 2, 2006.

About NewWest Gold Corporation

NewWest Gold Corporation is one of the largest holders of precious
metals mineral rights in Nevada's gold trends, spanning approximately
623,000 acres. NewWest holds nineteen exploration projects, including
advanced staged projects with measured and indicated resources.
NewWest's goal is to advance its projects along the pipeline into
production.

Forward-Looking Statements

Information in this news release that is not current or historical
factual information may constitute forward-looking information within
the meaning of securities laws. Implicit in this information,
particularly in respect of future operating results, economic
performance, potential mineralisation and resources, exploration
results and further plans and objectives are forward looking
statements that involve various risks and uncertainties which,
although considered reasonable by NewWest at the time of preparation,
may prove to be incorrect. Readers are cautioned that there can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.

This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, which may be made only by means of a
prospectus, nor shall there be any sale of the common shares in any
state, province or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under securities laws of any such state, province or
other jurisdiction. The common shares of NewWest have not been, and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered, sold or delivered in the United
States absent registration or an application for exemption from the
registration requirements of U.S. securities laws.

ots Originaltext: NewWest Gold Corporation
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information: NewWest Gold Corporation, Stephen D. Alfers,
President and Chief Executive Officer, Tel: +1-303-425-7042, Fax:
+1-303-425-6634, info@newwestgold.com; BarnesMcInerney Inc., Daniel
Weinerman, Tel: +1-416-367-5000 ext. 248, Fax: +1-416-367-5390,
dweinerman@barnesmcinerney.com/


	hier anmelden...