Novawest Resources Inc. - Private placement closed



    VANCOUVER, Nov. 5 /CNW/ - Novawest Resources Inc. (TSXV - "NVE";
Frankfurt - "NWN"), and its Board of Directors are pleased to announce that
the Company has closed the Private Placement announced on October 26, 2007.
The Private Placement initially announced was for $300,000 Cdn comprised of
1.5 million Units, but due to being oversubscribed the Company has raised
total proceeds of $380,000 Cdn. by issuing 1.9 million Units.
    Each Unit will consist of one common share and one half-share warrant
entitling the warrant holder to purchase one additional non flow-through
common share of the Company, within a period of 24 months, for each two
half-share warrants exercised and payment of $0.25 Cdn. Of the proceeds
raised, $342,000 will be flow-through and will be spent on the Company's
Canadian exploration projects, while the remainder will be applied to working
capital. Finder's fees may be paid on this transaction, subject to the
policies of the TSX Venture Exchange. All shares issued will be subject to a
hold period per the policies of the TSX Venture Exchange, and this Private
Placement is subject to the approval of the TSX Venture Exchange.
    Novawest invites the public to visit its website at
http://www.Novawest.com or e-mail us at Novawest@Novawest.com to be added to
the Company's e-mail list for press releases and updates.

    ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RE

SOURCES INC. "Patrick D. O'Brien" ----------------------------- Patrick D. O'Brien - Chairman Novawest invites the public to visit its website at http://www.novawest.com or e-mail the company at novawest@novawest.com to be added to the company's e-mail list for press releases and updates. S.E.C.Exemption12(g)3-2(b) File No. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUITE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN

For further information:

For further information: Novawest Resources Inc., Suite 1600, The Bower
Building, 543 Granville Street, Vancouver, British Columbia, Canada, V6C 1X8,
Tel: (604) 683-8990, Toll Free: 1-800-663-8990, Fax: (604) 683-8903,
www.novawest.com, novawest@novawest.com

Organization Profile

NOVAWEST RESOURCES INC.

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