Company Information for Golden West Resources Ltd

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Company Statement

The Wiluna West Project is located approximately 40km west of the township of Wiluna in the North Eastern Goldfields of Western Australia. A significant increase to the previously reported resource was announced 30th July 2008 and the iron resource of this major high grade project stands at 119Mt million tonnes @ 58.9% Fe. However, Golden West expects to further increase resources at Wiluna West within August 2008 as the Snowden International Mining Consultancy group is expected to complete a resource upgrade of the C4 deposit and additional drilling information becomes available for the Bowerbird South deposit.

Current Operations

Wiluna West: Iron Project
The Wiluna project hosts a large high grade iron deposit with in five separate horizons, Units A, B, C, D, and E that have a cumulative strike length of 125km. The company is concentrating on exploring the project to evaluate its potential.

Summary
The 440km² Wiluna West Project is located approximately 40km west of thetownship of Wiluna in the North Eastern Goldfields of Western Australia.

• Major high grade iron resource project
• Iron Resource 119 million tonnes @ 58.9% Fe, Interim Inferred Mineral Resource already outlined
• Current exploration on track to attain target of high grade resource of 100 million tonnes and increase the status of resource
• Gold resource of 87,000 oz outlined
• Uranium, calcrete style deposit potential

The Company controls almost the entire Joyners Find greenstone belt, having contiguous tenements covering a length of 45km for a total area of 440km² The Joyners Find greenstone belt is adjacent to the highly productive Norseman-Wiluna greenstone belt. The Greenstone Belt contains two regional shear zones known as the Joyners and the Brilliant Shear Zones. The Joyners Shear is the most significant structure in the area being at least 50km long and up to 1km wide. Both the Joyners and Brilliant Shear Zones are considered to be major controls of mineralisation within the project area.

Golden West Resources has reported a JORC compliant Inferred Mineral Resource of 119 Million tonnes @ 58.9% Fe in July 2008, represented an increase of 33Mt of the Oct 2007 reported resource. With this announcement Golden West has achieved its goal of defining a resource to at least 100 to 150 Million tonnes. Golden West expects to further increase resources at Wiluna West in August 2008 as the Snowden international mining consultancy group is expected to complete a resource upgrade of the C4 deposit and additional drilling information becomes available for the Bowerbird South deposit.

In addition, the Wiluna project hosts a combined gold resource of 788,000 tonnes at 3.5 g/t gold for a contained 87,000 oz with considerable further potential.

Uranium potential exists on the most southern tenement, up stream from the calcrete hosted style uranium deposits of Dawson Well, Hinkler Well, Centipede and Lakeway.

Development
A high level project timeline has been developed that defines the tasks and resources necessary to achieve a 10 million tonne per annum production project by mid 2011.
Overview

An Interim Inferred Mineral Resource of 86.3 million tonnes of iron ore @ 60.1% Fe was calculated in accordance with the JORC code. A draft submission for mining approval (NOI) for Bowerbird has been commenced by Keith Lindbeck and Associates and is under review. Application to convert exploration licences to mining leases in the north of the project area has commenced.

The high level project timeline defined the tasks and resources required for 2008 as part of the timeline necessary to achieve a 10 million tonne per annum production project by mid 2011. A conceptual pictorial overview of the area shows the potential mining areas and infrastructure locations. The key aspects currently initiated include application for a mining lease that encompasses the northern area, application for a million tonne bulk sample, environmental studies covering the proposed and existing mining lease areas, studies to define the sustained economic parameters required for the future feasibility study and a programme to expand the resource for the whole project area.

Key project objectives for 2008–2009

   1. Complete bulk sample mining on B and C ridges;
   2. Finalise the Oakajee and/or Esperance Port alternatives;
   3. Complete the scoping/pre-feasibility study;
   4. Complete all heritage and environmental studies for the north project area;
   5. Lodge Mining Proposal with the Department of Industry and Resources.

Dohertys Project
The Doherty's project is located in the Barrambie Greenstone Belt, 65km north of the township of Sandstone in the Murchison region of Western Australia. The project consists of a single granted prospecting licence P57/972 covering an area of 175 hectares.

Exploration over the Project area concentrated upon the Doherty's mine and culminated with shaft sinking and underground development where high grade gold mineralisation was defined on the eight level (100m depth) averaging 43.1 g/t gold over a distance of 51m.

All of the previous exploration data has been compiled and re-assessed leading to much clearer understanding of the high-grade mineralisation present. This work has resulted in a complete reappraisal of the deposit and now contains an indicated resource of 25,700 tonnes @ 23.8 g/t Gold for a contained 20,430 oz.

RC Drilling during January 2008 defined further anomalous gold intercepts with a maximum of:

    * GWRC001 1m @ 3.5g/t Au from 38m
    * GWRC003 1m @ 36.95g/t Au from 76m

The Doherty's project clearly contains a high-grade gold resource and the Company intends to seek a joint venture partner to develop the deposit.

Geographical Spread

Board of Directors and Key Management

Constantino Markopoulos	Executive Chairman
John Daniels	Chairman, Non Executive Director, Geologist
Gary Hutchinson	Managing Director, Financial
Michael Wilson	Executive Director, Exploration Manager
Alan Rudd	Non Executive Director, Geologist
John Lester	Non-Executive Director
David Sanders	Company Secretary

Company Address Suite 6, 136 Main Street Osborne Park Perth, Australia WA 6017 Telephone: 08 9201 9202 Facsimile: 08 9201 9203 Email: gary[at]goldenwestresources.com Website: http://www.goldenwestresources.com

Additional Address/Key Contact P.O. Box 260 Osborne Park Western Australia 6917

Capital Shares on Issue 72 million Options on Issue 41 million

Annual General Meeting November, West Perth

Year End 30 June

Broker/Analyst Reports

21/06/07 - Strachan Corporate

Major Shareholders

1.Portman Iron Ore Ltd	17,954,517	16.261
2.Group #889045	13,152,688	11.912
Fairstar Resources Limited	860,506	0.779
Fairstar Resources Limited	12,045,586	10.909
Fairstar Resources Limited (Takeover GWR A/C)	246,596	0.223
3.Walthamstow Pty Ltd	9,000,000	8.151
4.Public Trustee (IFTC Broking Services Ltd A/C)	3,960,000	3.586
5.Rimcapital Limited	3,372,316	3.054
6.American Instituional Partners LLC	3,145,270	2.849
7.Shashua Pty Ltd (Hutchinson Super Fund A/C)	1,930,000	1.748
8.Dolphin Technology Pty Ltd (The Dolphin Account)	1,536,488	1.392
9.Michael Reginald Wilson	1,431,438	1.296
10.Group #889007	1,296,573	1.174
HSBC Custody Nominees (Australia) Limited	1,183,789	1.072
HSBC Custody Nominees (Australia) Limited-GSCO ECSA	6,400	0.006
HSBC Custody Nominees (Australia) Limited - A/C 2	106,384	0.096

Related News

30/06/08 - Cleveland-Cliffs Denies It's Going To Make A Bid For Golden West, But Watch This Space
05/09/07 - Unknown Bidder Makes Approach To Golden West Resources
14/11/06 - Golden West Resources Appears To Be Sitting On An Iron Elephant

Most Recent Statement

06/10/08 - Change in substantial holding
30/09/08 - Annual Report to shareholders
30/09/08 - Investment in Yilgarn Infrastructure
24/09/08 - Wiluna West Iron Ore Project Target
06/09/08 - Settlement of acquisition of Joyners Find tenements
27/08/08 - Resource Upgrade and Significant Intercepts Bowerbird South