Gowest News

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FOR: Gowest Amalgamated Resources Ltd.

TSX VENTURE SYMBOL: GWA

Gowest Amalgamated Resources Ltd.: Reduction of Stated Capital and Return of Capital

APR 24, 2006 - 15:44 ET

TORONTO, ONTARIO--(CCNMatthews - April 24, 2006) - Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA) ("Gowest") announces that it has received exemptive relief from the securities regulatory authorities in each of the provinces and territories of Canada for the distribution, by way of a return of capital (the "Return of Capital"), of the 8,036,466 common shares of Trade Winds Ventures Inc. (collectively, the "Trade Winds Shares") that it received as consideration from Trade Winds Ventures Inc. ("Trade Winds") for the sale of Gowest's 40% interest in the Gowest Property at Detour Lake (see also the joint press release of Gowest and Trade Winds dated April 19, 2006).

The board of directors of Gowest has fixed the record date for the Return of Capital as the close of business on May 2, 2006 (the "Return of Capital Record Date").

As soon as practicable after the Return of Capital Record Date, the Trade Winds Shares will be distributed pro rata to shareholders of record of Gowest, based on the respective numbers of common shares of Gowest held by such shareholders on the Return of Capital Record Date.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

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