ARMSTRONG, BC, Sept. 21 /PRNewswire-FirstCall/ - Further to the Company's news release dated September 15, 2006, the Company is pleased to announce that it has closed its private placement for gross proceeds of $3,000,000 and has issued 2,727,269 flow-through common shares and 2,727,269 warrants. Each unit comprised of one share plus one warrant was priced at $1.10. Each warrant is exercisable for one non flow-through common share at a price of $2.50 for a period of two years. The applicable hold periods expire at midnight on January 20, 2007.
The proceeds of this private placement will be used to fund the Company's ongoing exploration program on the Company's property near Lac La Hache, B.C.
Most of this Private Placement was purchased by the MineralFields Group. About MineralFields -------------------
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar limited partnerships to investors throughout the world. Information about MineralFields Group is available at www.mineralfields.com.
About GWR ---------
GWR Resources Inc. is a British Columbia company with its head office in Armstrong, BC. GWR's property is comprised of approximately 65 square kilometres of contiguous claim groups located approximately 17 kilometers north northeast of Lac La Hache in south central BC. The property is accessed by approximately 30 kilometres of all weather logging roads. Lac La Hache is located on BC Highway 97, and is serviced by BC Rail, BC Hydro, and natural gas. Operations on the property may be carried out 12 months of the year. GWR has accumulated the property and conducted exploration since 1988. The current drill program is a follow up to the multisensor helicopter borne geophysical survey conducted in 2005 and funded by GWR in partnership with the Geological Survey of Canada.
"Irvin Eisler" ----------------------- Irvin Eisler, President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CONTACT: GWR RESOURCES INC., 5230 Lansdowne Road, Armstrong, British Columbia, V0E 1B4, Telephone: (250) 546-8048
Source: GWR Resources Inc.