* Offers 1 shr for 4 Freewest shrs, deal valued at C$90 mln

* Says represents implied offer price of C$.3975/shr

* Freewest says offer "highly opportunistic"

Oct 5 (Reuters) - Noront Resources Ltd (NOT.V) made an unsolicited offer for minerals explorer Freewest Resources Canada Inc (FWR.V) for up to C$90 million in stock to expand in the emerging multi-metals district known as the "Ring of Fire."

Noront will offer one Noront share for four Freewest shares, the company focused on its McFauld's Lake Project in the area known as the "Ring of Fire", located in the James Bay Lowlands of Ontario, said in a statement.

Separately, Freewest said the unsolicited offer by Noront is "highly opportunistic and significantly undervalues Freewest's assets and future value-creation potential."

However, Freewest said it will consider the offer when it is formally made and make a recommendation to its shareholders, and that it will hire a financial advisor.

Noront said its offer represents an implied offer price of about 39.75 Canadian cents a share, a premium of 26 percent to Freewest stock's close of 31.5 Canadian cents Friday on the Toronto Venture Exchange.

Noront also said Freewest has an existing shareholder rights plan, and for the offer to go through, the effect of the plan would need to be terminated.

Noront representatives had approached Freewest's Chief Executive Mackenzie Watson and Freewest board members on Oct. 2. However, they were not prepared to discuss the offer at that time, or over the weekend, it said.

Noront said it later sent a written confirmation of its offer to the Freewest board.

Noront shares closed at C$1.59 Friday on the Toronto Venture Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Gopakumar Warrier)

• • The Board of Directors of Freewest will consider the unsolicited offer when it is formally made and make a recommendation to Freewest's shareholders. The Board of Directors has undertaken steps to engage a financial advisor in connection with the offer. Freewest advises its shareholders not to deposit any common shares of Freewest to the eventual Noront offer and not to take any action concerning the offer until Freewest shareholders have received further communication from the Board of Directors of Freewest. After receiving advice from its financial advisor, the Board of Directors of Freewest will issue a directors' circular concerning the Noront offer. The directors' circular will contain important information, including the Board of Directors' formal recommendation as to whether Freewest shareholders should reject or accept the offer.

    Freewest is a well-financed mineral exploration company. It is actively exploring for gold, base-metals and chromite within eastern Canada. Corporate information can be accessed on the Internet at www.freewest.com. Freewest's shares are listed on the TSX Venture Exchange under the symbol FWR.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contact:

    Mackenzie I. Watson
    Freewest Resources Canada Inc.
    President and CEO
    (514) 878-3551 or 1-888-878-3551
    (514) 878-4427 (FAX)
    info@freewest.com
    www.freewest.com
    
    Michael D'Amico
    Bay Street Connect
    Investor Relations
    (647) 500-6023

    ==========================================

    =====================da Rock issa using dese charts ta keep regular tabs ..........onna ma subjects o' interest ta moi.  
    
    ma interests are:
    A.   Gold/Silver Trends
    B.   Copper & base metals
    C.   Miners......wit possible big gains
    
    Note: sum o' dese charts ta do wit ratios; report yestaday's numbers; da stock ones are up ta date!
    
    *********** comments 'ere issa only fo' enfotainment reasons *************
    *************************** Not financial advice ***********************************
    =============================================================================
    A.   Gold/Silver Trends
    
    Kitco Gold - 48 hrs:
    

    
    
    Still waitin' fo' da delayed + June 12th break through $1000 USD
    Got dat.....but now what???
    
    
    Price o' Gold:
    - Gold Price Daily
    
    * Broke $1000 - now what???
    
    Gold - Weekly
    
    * Da answer issa 'ere inna da weekly moves.....
    * Da Rock notes a assymetrical pennant...indicatin' Breakout ta topside comin'
    
    GLD ETF
    - usin' dis ta checks fo' Volume
    
    
    
    HUI - Gold Bugs Index:
    - Popular 15 unhedged Gold Miners
    
    * HUI retreats from high...
    * Gotta look back ta da Gold weekly ta understand dis........normal consolidation
    
    
    Gold Stock ETF:
    - 34 Gold/Silver Miners
    
    *.....da Rock's waitin's fo' money moves ta Juniors........
    
    
    HUI ta Gold Ratio
    - Gold Stocks leads Gold inna Bull Run
    
    * Stocks leadin's agin
    * Ratio breaks 50 dma
    
    
    GDM Bullish Percent Indicator:
    - Trend indicator fo Gold Miners

    
    ...........Dis indicator..............breaks 50 dma
    * RSI issa below 30.......where rebounds occur
    
    
    * Note dat dis indicator since Jan 2009 has traced a risin' pennant formation.....Bullish fo' breakout ta da up side....Soon
    
    
    Gold Corp - Big Gold:
    - Unhedged anna inna Cannuckland
    
    * Dis issa ma own proprietary indicator...........ma thoughts are
    dis guy issa fully priced...........Glamourous but expensive........
    ..........Monies movin's ta Mids anna Juniors...........
    
    
    
    Gold vs S&P 500:
    - to be in Gold or Stocks
    
    
    * lookin fo' direction
    
    
    S&P 500 Index
    - 500 Large Cap Universe inna USA
    
    *SPX hassa neva looked back........recovery issa on track.......
    * Recovery issa good fo' Gold.............
    
    
    S&P500 Showin's da bottoming Head & Shoulders
    
    

    * Da Rock's read o' dis issa............right should issa higher dan left shoulder.....
    * Bullish fo' recovery
    
    
    
    TSX Composite
    - Da Canuckland index
    
    * Main pattern issa up..............
    * TSX over 50dma
    

    =================================================================
    B. Copper, Commodities & Metals
    CDNX Venture
    - Proxy fo' ma Junior Golds/Metals
    
    * Like everyting else........up ....anna...up
    * Winter season should be good ta Venturites........
    
    
    Continuous Commodities Index
    - 17 key commodities
    
    * Commodities issa da major theme fo' next 3 years
    * check out sugar........shortages comin'
    
    
    
    

    Silver ETF:
    - Silver follows Gold; wit bigger gains
    
    * Pullback means mo' opps.....
    
    
    
    US Dollar:
    - decoupled from Gold
    
    * Oil anna commodities may move dependant upon US$
    * Gold hassa broken free........supported by Chinese buyin'
    
    
    Oil:
    - onna up trend; inverse o' da USD$
    
    * Da Rock sees oil stays @ $70 and consolidates
    
    Oil Bullish Indicator:
    
    
    
    Natural Gas
    - Rockets from da bottom
    
    * Lookit da Nat Gas rocket.........missed dat!!??
    
    Ratio Oil/Natural Gas
    - now at historical high
    
    
    UNG - Natural Gas Fund
    - may be bottoming

    
    
    * Da Rock hassa decided ta stay aways from dis one
    
    Coal ETF
    - moves wit oil
    * Will move wit oil moves.....................
    Da Rock likes coal betta.................dan Nat Gas
    
    
    
    Doctor Copper:
    - Da Dr. leads anna predicts da economy usually
    
    * Copper made a clear move to $3 anna now consolidatin'
    
    
    Steel Stocks vs NYSE
    - gives leadin' indicator o' economy
    - gives leadin' indicator o' economy
    * Da Rock sees steel ta be makin' big moves soon.......
    * Infrastructure $$$ finally makin' itself felt.......
    
    Shippin' Rates
    - indicator o' world trade
    
    Why Rates goin' down:
    http://www.fool.com/investing/general/2009/09/18/too-many-ships-destined-for-the-seas.aspx
    * Don't worry 'bout rates.........too many ships comin' on line...
    
    =================================================================
    C. Miners; Juniors; Nano-caps
    
    
    onna dis chart view CMM's up trend issa intact!
    * see Ducimus' analysis o' dis CMM:
    
    http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=26926533&l=0&r=0&s=CMM&t=LIST
    
    
    Century Mining - da Rock's Fav:
    - Hi-grade Gold mine inna Canuckland
    
    * Dis issa a $5 stock sittin's @ 18 cents................
    * $4 million Bridge loan closin Oct 2
    * $20 million financin' closin' Oct 27
    * Where does ya tink da Rock's .....got 'is bets....on???
    
    
    
    
    
    Cliffs Natural Resources
    - Iron Ore anna Coal miner
    

    
    * CLF issa leadin' indicator..........wit Asian sales.................
    * 50% o' facilites idle presently.............
    * What happens wit mo' demand???
    
    
    

    HL - Hecla Mining
    - Undervalued Silver Miner
    
    
    * Now atta time o' year for revenue from Alaska................
    * Next quarter........numbers gonna surprise............
    * Got gold too..........inna Alaska
    * Doubled already!!!
    
    
    
    SLW - Silver Wheaton
    - Silver royalties only; no minin'
    
    * SLW's got 21 employees only.............
    * All costs fixed...............so highly leveraged ta silver price
    * Winner already
    
    
    New Gold
    - Biz combination wit WGW gonna create synergy
    
    
    * NGD anna WGW combination movin's forward...................
    * Dis is a 10 bagger from 'ere..................might take 2 years..........
    * Steady upwards
    
    
    
    Ring O' Fire - KWG
    - Chromite, Diamonds, anna VMS Copper/Zinc/Lead/Silver fo' literally a few pennies
    
    * Big Daddy Chromite........also gots rare earth metals.....anna PGE group metals...........Kin you say Rhodium............anna Platinum
    * Debut distribution o' shares comin's
    * Railroad comin'
    * TSX comin'
    Dis stock issa long term hold fo' $$$
    
    
    
    Placer Gold Production - PRZ
    - Hi Grade producer; 350 ton mill inna place
    - $2Mil JV with EPL ta mine Gold
    
    
    
    
    Sage Gold - SGX
    - led by Nigel Lees; combinin' wit Consolidated Puma Resources
    
    
    Phoenix Coal - PHC.To
    - Illinois basin coal player lookin' ta increase production
    
    
    
    Dats a wrap fo' Now!
    HardRock