Fronteer Development Group Inc. to Seek to Acquire NewWest Gold Corporation; Enters Into Agreement With Significant Shareholder

Lakewood, Canada (ots/PRNewswire) -

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Fronteer Development Group (TSX and AMEX - FRG)("Fronteer") and
NewWest Gold Corporation (TSX- NWG)("NewWest") announced today that
Fronteer has entered into a lock-up agreement (the "Lock-Up
Agreement") with NWG Investments Inc. (the "Significant
Shareholder"), the owner of approximately 86% of the outstanding
common shares of NewWest, pursuant to which the Significant
Shareholder has agreed to tender to and support a transaction (the
"Proposed Transaction") whereby Fronteer would seek to acquire all of
the outstanding common shares of NewWest on the basis of 0.26 of one
common share of Fronteer for each common share of NewWest.

Fronteer and NewWest have entered into a mutual confidentiality
agreement pursuant to which NewWest has granted to Fronteer a 30 day
exclusivity period in which to complete due diligence and pursuant to
which NewWest has agreed not to solicit other proposals. Fronteer and
the Significant Shareholder have also entered into an exclusivity
agreement pursuant to which the Significant Shareholder has agreed
not to solicit other proposals for a 30 day period. The Lock-Up
Agreement permits the Significant Shareholder to tender its NewWest
common shares to a superior transaction in certain circumstances and
subject to certain conditions, including offering Fronteer an
opportunity to match any such proposal and the payment by the
Significant Shareholder of a termination fee to Fronteer in the
amount of C$5.6 million.

Fronteer's obligation to proceed with the Proposed Transaction is
subject to a number of conditions including Fronteer being satisfied,
in its sole and absolute discretion, with its due diligence
investigations. The Significant Shareholder can terminate the Lock-Up
Agreement in certain circumstances, including if Fronteer has not
made an offer to all holders of NewWest common shares by August 17,
2007. Under the Proposed Transaction, the exchange ratio of 0.26
common shares of Fronteer for each issued share of NewWest represents
a value of approximately C$3.20 per share based upon the closing
price of Fronteer on the TSX on June 28, 2007. This represents a
premium of 36.17% to the closing price of NewWest's shares on the TSX
on June 28, 2007 and 37.93% based on the 20 day volume weighted
average trading price of NewWest's common shares on the TSX.

There are currently 67,857,681 Fronteer common shares outstanding
and 58,392,000 NewWest common shares outstanding. Should the Proposed
Transaction be completed and Fronteer acquires 100% of the NewWest
common shares, current Fronteer shareholders would own approximately
81.7% of Fronteer and current NewWest shareholders would own
approximately 18.3% of Fronteer.

A special committee of the NewWest board of directors has been
established to consider the transaction. The committee has not yet
made any recommendation to the board of directors of NewWest in
respect of the proposed transaction.

NewWest has engaged GMP Securities L.P. as its financial advisor
and Stikeman Elliott LLP as its legal advisor. Fronteer's financial
advisor is Canaccord Capital Corporation and its legal counsel is
Cassels Brock & Blackwell LLP. The Significant Shareholder is being
advised by Goodmans LLP.

No agreements have been reached between NewWest and Fronteer,
other than the confidentiality agreements described above. There can
be no assurances that any agreements will be reached or that a
transaction will result.

ABOUT FRONTEER

Fronteer is an exploration and development company with a track
record of making big discoveries. Not including the results of the
above transaction, Fronteer will have exposure to approximately C$42
million in exploration/development expenditures and 130,000 metres of
drilling throughout 2007. Fronteer has approximately $105 million in
cash, no debt, and holds approximately a 46.8% interest in Aurora
Energy Resources (AXU - TSX), a leading Canadian uranium company with
a market valuation in excess of C$1.1 billion.

For further information on Fronteer visit www.fronteergroup.com

ABOUT NEWWEST

NewWest is one of the largest holders of precious metals mineral
rights in Nevada's gold trends, spanning approximately 623,000 acres.
NewWest holds 19 exploration projects, including advanced-stage
projects with measured and indicated resources. NewWest's goal is to
move its projects into production.

For further information on NewWest visit www.newwestgold.com

This news release includes certain "forward-looking statements"
within the meaning of Canadian securities laws. Forward-looking
statements involve risks, uncertainties and other factors that could
cause actual results, performance, prospects and opportunities to
differ materially from those expressed in such forward-looking
information. Forward-looking information in this news release
includes but is not limited to, a transaction with Fronteer, economic
performance, statements regarding potential mineralization and
reserve exploration, and future plans and objectives of NewWest Gold
Corporation including future exploration and development.

Any number of important factors could cause actual results to
differ materially from these forward-looking statements, including
those set out in the Company's Annual Information Form as of December
31, 2006, as well as future results. Although the Company believes
that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not
be placed on these statements, which only apply as of the date of
this news release, and no assurance can be given that such events
will occur in the disclosed timeframes or at all. The Company
disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.

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

Contact:
Fronteer contact: Camon Mak, Investor Relations, Glen Edwards, Media
Relations, PH) +1-604-632-4677 or Toll Free 1-877-632-4677,
info@fronteergroup.com. NewWest Gold Corporation, Stephen Alfers,
President and Chief Executive Officer, PH) +1-303-425-7042