Arrangement with Westlinks Resources Ltd. Approved by Big Horn Shareholders.

Business Editors

CALGARY, Alberta--(BUSINESS WIRE)--July 24, 2001

BIG HORN RESOURCES LTD. (TSE:BGH) and WESTLINKS RESOURCES LTD. (CDNX:WLX) (NASDAQ:WLKS) announced today that the shareholders of Big Horn have overwhelmingly approved of the proposed plan of arrangement involving Westlinks, 3779041 Canada Ltd., Big Horn and its shareholders at a special meeting of shareholders held yesterday in Calgary.

In total, 98.8% of the votes cast at the special meeting were cast in favour of the plan of arrangement. Pursuant to an Interim Order granted by the Court of Queen's Bench of Alberta on June 22, 2001, Big Horn will make application to the Court for final approval of the plan of arrangement on Friday, July 27, 2001. The effective date of the plan of arrangement is expected to be on or about August 7, 2001.

Mr. Reg Greenslade, President and Chief Executive Officer of Big Horn, will become President and Chief Executive Officer of Westlinks following the effective date of the arrangement. "Both companies have generated substantial organic growth on their own," said Mr. Greenslade " Yet we believe that the synergies created by this combination will allow Westlinks to pursue opportunities that were previously unavailable to each of us. The new Westlinks will have a stronger balance sheet, better access to the capital markets and a diversified portfolio of oil and gas properties that should enable the company to capitalize on exciting opportunities in the near future."

The combined entity would have reported revenues for its first quarter ended March 31, 2001 of $5.4 million (including gain of $994,000 on settlement from hedging transaction), cash flow of $3.7 million ($0.47 per share) and net income of $932,000 ($0.12 per share). The new company will have approximately 8.9 million shares outstanding after giving effect to the arrangement. Westlinks expects to report second quarter revenues during the middle of August and provide guidance on its financial performance for the rest of the year at that time.

Following the closing of the transaction, Big Horn shareholders who elected to receive Westlinks common shares and who have submitted a letter of transmittal and election form together with certificate(s) representing their Big Horn shares to the depositary will receive new certificate(s) representing their Westlinks common shares. Similarly, Big Horn shareholders who elected or were deemed to have elected to receive cash and Westlinks preferred shares will receive such consideration following the delivery of the certificate(s) representing their Big Horn shares to the depositary.

It is expected that trading in Big Horn's shares on the TSE will be suspended pending the closing of the transaction. Westlinks, whose shares trade on the CDNX, has made application to the TSE for conditional listing approval. Westlinks and Big Horn are hopeful that such approval will be granted in mid to late August. Until such time as the TSE listing approval is granted, Westlinks' shares will continue to trade on the CDNX under the symbol "WLX" and on NASDAQ under the symbol "WLKS".

The Toronto Stock Exchange Inc. and The Canadian Venture Exchange, Inc. have not reviewed and do not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information. Actual future results may differ materially from those contemplated. The risks, uncertainties, and other factors that could influence actual results are described in documents filed with regulatory authorities.