KWG to place flow-through shares

    
    Symbol on TSX-Venture Exchange: KWG
    Shares issued and outstanding: 403,468,877
    

MONTREAL , Oct. 16 /CNW/ - KWG Resources Inc (TSXV: KWG) intends to accept subscriptions from accredited investors for a non-brokered private placement of flow-through shares. A price reservation has been filed and terms of the placement will be finalized next week. Finder's fees not exceeding those prescribed by the policies of the TSX Venture Exchange will be paid in treasury shares to qualified parties.

About KWG Resources Inc:

KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada , where important discoveries of nickel and chrome have been made recently in the Ring of Fire. KWG has an equal joint venture interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The joint venture is developing the Big Daddy chromite deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources. KWG holds a 1% net smelter royalty in all three deposits and has created Canada Chrome Corporation to pursue the development of them.

    
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For further information: Bruce Hodgman, Communications Director, Direct: [phone], [email protected]; Michel Côté, Director, [phone]; Or visit our website: www.kwgresources.com