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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	4/17/2007 5:48:47 PM
	of 78416

Wesdome, Western Quebec consider merger 2007-04-17 16:32 ET - News Release Also News Release (C-WQM) Western Quebec Mines Inc Mr. Donovan Pollitt of Wesdome reports WESDOME GOLD MINES AND WESTERN QUEBEC MINES TO CONSIDER BUSINESS COMBINATION Wesdome Gold Mines Ltd. and Western Quebec Mines Inc. are exploring the possibility of a business combination and their boards have approved the combination in principle. Western Quebec, which owns approximately 33 per cent of the outstanding common shares of Wesdome, owns 1,000 hectares of land in the Val d'Or region, contiguous to Wesdome's Val d'Or assets (3,200 hectares) and Agnico-Eagle's Goldex project. A business combination would increase Wesdome's landholdings in the area by 31 per cent, and give Wesdome an expanded, contiguous and dominant land position in the Val d'Or camp. This would add further exploration upside to Wesdome. The business combination would also serve to increase Wesdome's liquidity and remove the control block of common shares currently owned by Western Quebec. Reduced listing, legal and audit fees are other advantages of the business combination. The consideration of a business combination by Wesdome and Western Quebec is at a very preliminary stage, and any potential transaction will be subject to the receipt of all necessary regulatory, board and shareholder approvals. While there is no set time frame for the proposed transaction, the companies hope to report to their shareholders within the next few months.

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