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MONTREAL, QUEBEC--(Marketwire - Nov. 12, 2009) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) is pleased to announce that it has reached a settlement with Noront Resources Ltd. with respect to Freewest's Shareholder Rights Plan, adopted in 2008. Freewest and Noront have agreed that the Shareholder Rights Plan will remain in effect until 5 p.m. on December 1, 2009, at which time Freewest will waive the application of the Shareholder Rights Plan with respect to Noront's unsolicited all-share offer made on October 13, 2009 for the outstanding shares of Freewest. As part of the settlement, Noront will not proceed with its application to the Bureau de decision et de revision en valeurs mobilieres for a cease-trade order against the Shareholder Rights Plan.


"We are very pleased with this settlement", said Mackenzie I. Watson, President and Chief Executive Officer of Freewest. "This means with absolute certainty that our Shareholder Rights Plan will remain in effect until December 1. We continue to believe that Noront's offer is inadequate and that it should be rejected by Freewest's shareholders. Yesterday, we announced that we had signed a Confidentiality and Exclusivity Agreement with a third party, under which we will negotiate on an exclusive basis until December 1, 2009. This settlement on the Shareholder Rights Plan gives us sufficient time to reach a value-enhancing agreement with the third party and to sign a definitive agreement by December 1, all to the benefit of Freewest's shareholders", added Mr. Watson.


Freewest is a well-financed mineral exploration company. It is actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at