Wescan Completes Acquisition of Jojay Gold Deposit
November 1, 2006
Maurice (Moe) Lindsay, President of Wescan Goldfields Inc. ("Wescan") is pleased to announce that Wescan has completed and closed the previously announced purchase from Claude Resources Inc. (“Claude”) of all their interest in the Jojay Gold Deposit. Pursuant to this transaction, Wescan acquired an additional 75% participating interest in the deposit, bringing its total participating interest in the property to 100%. The Jojay Gold Deposit was formerly held by Wescan (25% and operator) and Claude (75%) under a Joint Venture agreement. The Jojay Gold Deposit is located in the LaRonge Greenstone Belt of northern Saskatchewan. Wescan acquired Claude’s interest by the issuance of three and one half million (3.5 M) Wescan common shares on October 24, 2006.
M. Lindsay notes that “this acquisition further enhances Wescan’s stated strategy to consolidate and develop its gold holdings in Northern Saskatchewan”.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture exchange under the trading symbol “WGF”.
For further information please contact:
Maurice (Moe) F. Lindsay, President at (306) 664-2422.
“The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.”