Toronto, Canada, September 20, 2006 -- Western Goldfields, Inc. (TSX:WGI, OTC BB:WGDF.OB) will participate in a ceremony opening Toronto Stock Exchange Trading at 9:30 a.m. EDT on Wednesday, September 20, 2006 to mark the listing of its common shares on the TSX under the symbol WGI.
The listing of Western Goldfields' shares for trading on the Toronto Stock Exchange, one of the world's premier markets for resource stocks, is an exciting step in the development of our company," said Mr. Randall Oliphant, Chairman, Western Goldfields.
"Since the shares began trading on the TSX on August 28, 2006, there has been increased awareness among Canadian investors about the expansion of our operations at the Mesquite Mine, located in Southern California," Mr. Oliphant added. "We estimate average annual production of 165,000 ounces of gold from the mine, beginning in April 2008, with an initial project life of 9 ½ years."
Western Goldfields, Inc.
Under a new, highly experienced and dynamic management team, Western Goldfields is a gold producer focused on completing the expansion of its Mesquite Mine, located in Imperial County, California, and returning the mine to full production. A Feasibility Study on the Mesquite Mine was completed in August 2006, and the results can be found on Western Goldfields' website and on www.SEDAR.com. The company currently has 69,187,051 common shares issued and outstanding and 111,369,230 shares of common stock on a fully diluted basis.
For further details, please visit www.westerngoldfields.com, or contact:
Raymond W. Threlkeld
President and Chief Executive Officer
(416)-324-6005
rthrelkeld@westerngoldfields.com
Brian Penny
Chief Financial Officer
(416)-324-6002
bpenny@westerngoldfields.com
Richard Wertheim
Investor and Media Relations
Wertheim + Company Inc.
(416)-594-1600
wertheim@wertheim.ca
Forward-Looking Information
Certain statements contained in this news release and subsequent oral statements made by and on behalf of the company may contain forward-looking information within the meaning of the United States Private Securities Litigation reform Act of 1995 and equivalent Canadian legislation. Such forward-looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and include, without limitation, statements regarding the company's plan of business operations, drilling program, potential contractual arrangements, receipt of working capital, anticipated revenues, and related expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, those set forth in the company's Annual Report on Form 10-KSB for the year ended December 31, 2005 filed with the U.S. Securities and Exchange Commission, under the caption, "Risk Factors". Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulation, the company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
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