Frankfield Gold Deposit Overview

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Frankfield Gold Deposit Overview Update

• January 2009

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Forward Looking Statement

• Some of the statements contained herein may be
  forward-looking statements which involve known
  and unknown risks and uncertainties. Without
  limitation, statements regarding potential
  mineralization and resources, exploration
  results, and future plans and objectives of the
  Company are forward looking statements that
  involve various degrees of risk. The following
  are important factors that could cause the
  Companys actual results to differ materially
  from those expressed or implied by such forward
  looking statements changes in the world wide
  price of mineral commodities, general market
  conditions, risks inherent to mineral
  exploration, risks associated with development,
  the uncertainty of future profitability and the
  uncertainty of access to additional capital.

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Corporate Overview TSX Venture Trading Symbol
GWA

• 52-Week
• High/Low 0.195/0.020
• (02/ 29/08)/(01/14/09)
• Shares
• Outstanding 24.779 million
• Shares
• Fully Diluted 27.249 million
• Average Volume 26,500
• Market Cap 1,239,000

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Frankfield Gold DepositTully Township, Ontario
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HIGHLIGHTS

• 500,000 oz. of gold (7 g/t) based on 43-101
  report in 2006
• Located in the Timmins camp with easy access and
  close to mining services
• Technical Report on Gowest/ New Texmont
  Property
• Tully Township, Porcupine M D, Ontario for
• Gowest Amalgamated Resources Ltd by
• G.A. Harron P. Eng. February 15, 2006
• Updated by RJ Bradshaw P.Eng. on December 23,
  2008
• (For the complete reports visit GOWEST SEDAR
  filing February 28, 2006 January 5, 2009)

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Frankfield Deposit - Location

• 42 km northeast of the Timmins city centre
• From highway 655 take a private 14 km all-weather
  road, east to
• the site.

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Frankfield Deposit - Current Ownership

• 560 acre property covered by two Ontario leases
  requiring annual tax payment
• 5050 joint venture with New Texmont Explorations
  Ltd an unlisted company
• Gowest is the operator

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Frankfield Deposit Proposed Consolidation

• Gowest proposes the acquisition of New Texmonts
  50 undivided interest in Frankfield and 100
  interest in certain additional exploration
  properties adjacent to the Frankfield gold
  project (see map on slide 9)
• A special meeting of the shareholders of Gowest
  will be held on February 23, 2009 to pass a
  special resolution to approve this transaction

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Frankfield Proposed Consolidation
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Frankfield Deposit Dimensions Potential

• Deposit outlined by approximately 74 drill holes
  (17,200 m) over a strike length of 600 m to a
  depth of 500 m
• Open along the strike
• Drill holes of 2005 and 2006 programs located to
  intersect mineralization at 50 m intervals to a
  depth of 300 m
• Two deep holes show main zone continues to depth
  of at least 600 m
• Calculated using panel method, minimum true width
  of deposits is 3 m

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Frankfield Deposit - Grade Tonnage

• Table below generated by Gemcon Software inferred
  resource estimation as follows
• Mineralized Tonnes Grade(g/t Au) Au Ounces
• Zone
• M 1 1,065,000 6.4 219,140
• M 2 557,200 4.0 71,660
• B 1 901,000 6.0 173,810
• B 2 138,700 6.7 29,880
• Total 2,661,900 5.8 494,490 Cut Off grade/width
  2 g/t Au / 2 m (true width)
• Table below generated by Longitudinal Panel
  Method inferred resource estimation as follows
• Mineralized Tonnes Aver. True Grade (g/t Au)
• Zone Width (m)
• M 1 East 781,100 3.7 6.56
• M 1 West 841,800 8.3 5.34
• B 1 East 342,500 3.3 7.46

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Frankfield Project - Plan 2009

• Metallurgical Screening Tests completed - Q3 2008
• Consolidate New Texmonts Frankfield Tully
  assets with Gowest - Q1 2009
• Develop preliminary 3D geological resource model
  - Q2 2009
• Identify resource expansion opportunities
• Drilling program for resource expansion - 2008/09
• Target - double resource
• Scoping study - 2009
• Initiate baseline environmental study - 2009
• Evaluate mineral concessions with similar
  metallurgical deposits with a view to grow
  regional resources - 2009

TSX-V GWA
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Our Team

• Management
• Advisors
• Directors

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Management

• Gregory Romain, President C.E.O.
• Janet ODonnell, C.F.O.
• Advisors
• Ronald J. Bradshaw, P.Eng., Economic Geology
• Richard Adams, P.Eng., Mining
• Darren Koningen, P. Eng., Metallurgy
• Randy Roussain, Project Geologist
• Doug Londry, Project Geologist

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Directors

• Ronald Bradshaw, Non-Executive Director, since
  1975
• Mark Bradshaw, Non-Executive Director, since 2007
• William Howes, Non-Executive Director, since 2004
• Daniel Mersich, Non-Executive Director, since
  2007
• Donald Rankin, Non-Executive Director, since 1998
• Gregory Romain, Executive Director, since 2008