Fronteer Development Group Inc. and NewWest Gold Corporation Enter Into Arrangement Agreement

Lakewood, Canada (ots/PRNewswire) - Fronteer Development Group
(TSX and AMEX - FRG)("Fronteer") and NewWest Gold Corporation (TSX -
NWG)("NewWest") announced today that NewWest and Fronteer have
entered into an arrangement agreement pursuant to which Fronteer
will acquire 100% of the common shares of NewWest through a
court-approved plan of arrangement (the "Arrangement"). NWG
Investments Inc. (the "Significant Shareholder"), the owner of
approximately 86% of the outstanding common shares of NewWest, has
agreed to vote in favour of the Arrangement. The agreement today
comes at the end of 30-day exclusivity and due diligence period that
was previously announced by the parties on June 28, 2007.

"This transaction with Fronteer represents a significant premium
for our shareholders and increase in shareholder value. NewWest
shareholders will have an opportunity, through their ownership in
Fronteer, to continue to participate in the upside of NewWest's
projects while increasing the geographic diversity with respect to
the assets of the combined company. The NewWest gold assets will add
to the already impressive portfolio of assets of Fronteer, creating a
formidable platform for continued growth," said Stephen Alfers,
President and Chief Executive Officer of NewWest.

Mark O'Dea, President and Chief Executive Officer of Fronteer
commented, "This transaction is an excellent fit for Fronteer,
bringing in a pipeline of 19 new projects in one of the world's best
gold mining districts. The combination of NewWest's exciting Nevada
projects with our growing Turkish assets creates an outstanding gold
platform on which to continue building a significant mining company".

The Board of Directors of NewWest has unanimously recommended that
NewWest shareholders and optionholders vote in favour of the
Arrangement. The NewWest Board has also received an opinion from its
financial advisor, GMP Securities L.P., that the consideration to be
received by minority NewWest shareholders under the Arrangement is
fair from a financial point of view.

It is expected that the management information circular for a
special meeting of NewWest shareholders and optionholders to be held
to approve the Arrangement will be mailed to NewWest shareholders by
mid-August, with the special meeting of NewWest shareholders and
optionholders to be held on or about September 13, 2007.

Summary of the Transaction

The acquisition will be completed by way of a court-approved plan
of arrangement whereby each NewWest common share will be exchanged
for 0.26 of a Fronteer common share, which represents a value of
approximately C$3.20 per share based upon the closing price of
Fronteer common shares on the TSX on June 28 2007. This also
represents a premium of 36.17% to the closing price of NewWest's
common 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 ending on June 28, 2007, which was the last trading day
prior to the announcement of exclusive negotiations. There are
currently 67,857,681 Fronteer common shares outstanding and
58,392,000 NewWest common shares outstanding. Should the proposed
arrangement 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.

In addition, all outstanding options of NewWest will be exchanged
for replacement options of Fronteer and will be exercisable to
acquire that number of common shares of Fronteer determined by
reference to the share exchange ratio.

The completion of the arrangement is subject to a number of
customary conditions precedent, including that the Arrangement be
approved by 66 2/3% of the votes cast by NewWest's shareholders and
option holders present in person or by proxy at the special meeting,
voting together as a single class, and the approval of the
arrangement by the Supreme Court of British Columbia. The completion
of the Arrangement is not subject to a due diligence condition. The
transaction is expected to close on or about September 24, 2007.

Both NewWest and the Significant Shareholder can terminate their
respective agreements with Fronteer and pursue a superior transaction
in certain circumstances, in which case Fronteer would be entitled to
a termination fee from the Significant Shareholder of C$5.6m and of
C$0.82m from NewWest. Fronteer has other customary rights, including
a right to match competing offers, in this circumstance.

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

About Fronteer

Fronteer is an exploration and development company with a track
record of making big discoveries. Fronteer will have exposure to
approximately C$42 million in exploration/development expenditures
and 130,000 metres of drilling throughout 2007. Fronteer has
approximately C$104 million in cash, no debt, and holds approximately
a 46.8% interest in Aurora Energy Resources (TSX - AXU), a leading
Canadian uranium company with a market value of approximately C$1.0
billion.

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.

This news release includes certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995 and "forward-looking information" within the meaning of
applicable 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, completion of the arrangement, economic performance of
the combined company, statements regarding potential mineralization
and reserve exploration, and future plans and objectives of NewWest
Gold Corporation and Fronteer Development Group Inc., including
future exploration and development.

Any number of important factors could cause actual results to
differ materially from these forward-looking statements, including,
among others, risks related to international operations, the
businesses of Fronteer and NewWest not being successfully integrated
or such integration proving more difficult, time consuming or costly
than expected, not realizing on potential benefits of the
combination, the actual results of current exploration activities,
conclusions of economic evaluations and changes in project parameters
as plans continue to be refined as well as future prices of gold and
silver, as well as those factors set out in the each company's Annual
Information Form as of December 31, 2006. Although each 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. Accordingly,
readers should not place undue reliance on forward-looking
statements. Both companies disclaim any intention or obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.

Fronteer: visit www.fronteergroup.com

NewWest: visit www.newwestgold.com

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

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