Gowest News

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FOR: Gowest Amalgamated Resources Ltd.

TSX VENTURE SYMBOL: GWA

Gowest Commences Winter Drilling Programs

JAN 24, 2006 - 16:00 ET

TORONTO, ONTARIO--(CCNMatthews - Jan. 24, 2006) - Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA) has signed an agreement with White Star Copper Mines Ltd to acquire a 100 % interest in two leases (12 mining claims) in Tully Township north of Timmins, Ontario. The agreement requires an initial cash payment of $50,000 and thereafter for the next four years $20,000 on each anniversary date. In order to maintain the option Gowest is obligated to undertake annual exploration and development expenditures. In the first year the required expenditure is $75,000 which escalates to $700,000 in the fifth year for a total of $1,825,000. A 3% net smelter return royalty is payable on gold production. Gowest may reduce this royalty by 50% with a one time payment of $1,000,000.

A portion of the White Star property covers the extension of the stratigraphy which hosts the Frankfield gold deposits 500 metres west. The Frankfield gold deposits are owned jointly by Gowest and New Texmont Explorations Ltd (50:50). Gowest will start drilling on the newly optioned property within a matter of days.

Elsewhere, in Cavelier Township, 30 km south of Matagami, Quebec, Gowest is a joint venture partner (50:50) with Geonova Explorations Inc on a 20 claim gold prospect. Recently, research and compilation of previous work on and adjacent to the property has been undertaken which reveals new gold targets. Gowest, therefore, on behalf of the joint venture will immediately commence with a six hole program to test the new targets.



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FOR FURTHER INFORMATION PLEASE CONTACT:

Gowest Amalgamated Resources Ltd.
Ronald J. Bradshaw, P.Eng.
President
(519) 538-5858
www.gowestamalgamated.com