Gowest Amalgamated Resources Ltd.: Frankfield Drilling-Summary Report.

TORONTO -- The first phase of the 2004 drilling program on the Gowest-New Texmont (50-50) joint venture in Tully Township northeast of Timmins, Ontario was completed in late July. A total of 6151 m in 23 holes were drilled to intersect the northerly dipping target at 50 m intervals, horizontally and vertically, between a depth of 100 and 250 m; the last two holes both successfully intersected the target at about 300 m.

The target is 600 m. long and 600 m deep, dips north at 70 degrees and strikes easterly. Adjacent to the north of an ultramafic volcanic contact are a suite of dominantly felsic to intermediate volcanic tuffs which host a main gold zone within 20 m of the contact and above the main zone, one sometimes two subsidiary zones.

The gold zones are characterized by extreme deformation, including shearing and brecciation, quartz carbonate flooding and associated pyrite, arsenopyrite and hematite. The sulphides and carbon as graphite account for the electromagnetic conductivity of the main gold zone.

Using a value-width cut-off of 3g/t gold and 2.6 m width, respectively, eleven of the 23 holes, which intersected the main zone, averaged 7.07 g/t (0.20 opt) over an average true width of 3.62 m (12 feet). For the most part the potentially, economic mineralization is confined to a contiguous zone.

Similarly, using a cut-off of 3g/t and 3 m width, respectively, one, sometimes two subsidiary zones were intersected in 12 of 23 holes. These intersections averaged 5.63 g/t (0.16 opt) over a true width of 2.96 m (9.8 feet). Again the intersections tend to be contiguous and confined to a spatial group. Swastika Laboratories, an accredited facility, have done the gold analyses using the standard fire assay method.

Ultimately, it is considered by the writer, that underground development work is required to categorize and better define the resource. At this location, comparatively thin overburden cover, 2 to 3 metres locally, and rock exposure nearby, allows development by a ramp decline.

Following the completion of the drill program, a National Instrument 43-101 report, dated October 5, 2004, was prepared by G.A. Harron, P.Eng., and has been filed on SEDAR (http://www.sedar.com). The joint venture partners are currently reviewing the project and considering the next phase of the program, as recommended by Mr. Harron, and the funding for this program.

The report states that: " the full gold mineralization potential of this property has not been delineated ". Mr. Harron makes two recommendations. Firstly, that a down-the-hole geophysical survey be undertaken to detect anomalies represented by sulphide zones that are associated with gold mineralization and secondly, that a program of 5000 m of drilling be undertaken to test the zone at a depth of between 250 and 500 metres. Cost is estimated at $450,000.

The program was conducted according to NI 43-101 requirements. Ronald J. Bradshaw, President of Gowest was the qualified person responsible for the planning and implementation of the program and he is satisfied with the procedures to verify the data.

Ronald J. Bradshaw, P.Eng. President

Gowest Amalgamated Resources Ltd

The TSX Venture Exchange has neither approved or disapproved the information contained herein.

Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA)