Agoracom

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Clarence Springs, NB - An updated 43-101 compliant Mineral Resource estimate was recently received from our consultants, Scott Wilson Roscoe Postle Associates Inc (Scott Wilson RPA). Drilling to date has identified 2
distinct deposit clusters known as the Proximal deposits and the Anomaly-A, or Distal deposits. Scott Wilson RPA estimates an Indicated Mineral Resource of 817,400 tonnes at uncut grade of 8.43 g/t gold amounting to 221,620 ounces of gold in the indicated category. They also calculate an Inferred Mineral Resource of 642,600 tonnes at an uncut grade of 7.81 g/t gold or 161,340 ounces of gold in the inferred category. Could have a value of over $160 Million.

Golden Ridge, NB - Exploration by Freewest during 1987 to 2004 identified multiple, north-trending gold zones in New Brunswick yielding assays of 4.40 g/t gold over 6.00 metres, 1.47 g/t gold over 48.9 metres and 1.23 g/t gold over 33.2 metres. All of the gold zones remain completely open along strike and to depth. Soil geochemistry surveys completed on an expanded grid in the adjacent State of Maine identified several strong gold-in-soil anomalies that almost certainly represent additional zones comprising part of the same large auriferous system. None of the targets in Maine have been tested by trenching or diamond drilling.

Sungold, ON - In early 2005, Freewest announced the discovery of high-grade volcanic-hosted copper-zinc sulphides at the Wye Lake occurrence. Massive sulphides from the discovery outcrops yielded spectacular assays of up to 12.40% copper and 32.80% zinc. Trenching and diamond drilling traced stringer-type, semi-massive and massive sulphide styles of copper-zinc mineralization over an intermittent 800 metre strike length. Initial diamond drilling intersected the Wye Lake horizon over widths of 2 to 10 metres, confirming the existence of excellent quality massive sulphides locally, but failed to define a commercial deposit within the area drilled. Highlighting the drill results are intercepts of 6.21% zinc over 4.43 metres, 1.22% copper over 5.78 metres, 5.09% zinc over 2.15 metres and 1.74% copper across 3.00 metres.

Lizar, ON - In June of 2007, Freewest optioned the Lizar property to Noront Resources Ltd. Under the terms of the agreement, Noront may earn a 60% interest in the property. Future work will be directed towards exploring the potential for nickel-copper-platinum group element deposits within the ultramafic rocks. Such work will include systematic sampling and analyses of the ultramafic rocks, geological mapping, ground geophysics and diamond drilling.

Kirby Lake, ON - Freewest acquired the Kirby Lake base-metal property in a recent option agreement with Thunder Bay prospectors. The 100%-owned property of 8 mineral claims is located in the Onaman-Tashota greenstone belt, approximately 12 kilometres west of the Town of Geraldton. It can be explored yearround due to its access by way of logging roads and proximity to infrastructure. Government airborne geophysical surveys reveal strong electromagnetic anomalies (conductors) and magnetic highs in close association with the new occurrences. ...hosts an historic zinc showing discovered in 1994 known as the Kirby pit. Assays obtained from the occurrence yielded up to 7.19% zinc, 2.94% lead and 11.03 oz/t silver. Six short drill holes (e-size core) testing the occurrence intersected garnetiferous rhyolite containing narrow massive pyrrhotite and chalcopyrite bands.

Windfall, PQ - ...gold zones had previously been drilled by Freewest and Murgor in 2005 and 2006. At F11, gold mineralization comprises pyritic, altered and deformed felsic fragmental rocks yielding drill intercepts of up to 11.91 g/t gold over 17.0 metres. At F17, mineralization consists of quartztourmaline-pyrite veins with visible gold, hosted in a northeast-trending shear zone. Ore shoots within the F17 zone have returned drill intercepts of 8.89 g/t gold over 11.00 metres and 9.32 g/t gold over 11.00 metres. Higher-grade gold mineralization in both zones is hosted in plunging shoots (10 to 40 degrees to the northeast) that are still open down-plunge.

BENOIT PROJECT, PQ - This 3,680 hectare property is located near Lebel-sur Quevillon in south-central Quebec. It contains a gold deposit with an informal resource of 531,000 tons grading 0.161 oz/ton gold. This resource is contained within a larger inventory of 5.1 million tons grading 0.06 oz/ton gold. Murgor Resources Inc. has earned a 50% interest in the property. The property has excellent potential to host additional gold deposits. The corporation is looking for a joint-venture partner.

Dalhousie, PQ - Diamond drilling completed to test the eastern group of conductors, yielded significant intercepts including 0.60 percent copper and 0.40% nickel over 9.0 metres, 0.50 percent copper and 0.50 percent copper over 5.0 metres as well as 1.10 percent copper over 3.0 metres. Freewest plans a more detailed exploration program to examine the new nickel and vanadium occurrences as well as the other western conductors this field season. Such work will include prospecting, geological mapping, beep mat surveys, ground electromagnetic surveys in addition to diamond drilling. The exploration program is anticipated to begin in June.

Financials - As at January 31, 2008, the Corporation maintained a cash or equivalent position of $5,017,726 ($1,887,179 as at January 31, 2007) and working capital of $7,281,153 as compared to a working capital of $1,915,126 as at January 31, 2007. The Corporation has no long-term debt. Management is of the opinion that the current cash position is sufficient to meet current commitments. Full development of some mineral properties would require substantially more financial resources.