Toronto, Canada, September 5, 2008 - Western Goldfields Inc. (TSX:WGI, AMEX:WGW) is pleased to announce the hiring of Hannes Portmann as Director, Corporate Development and Investor Relations. The Company created this position to drive its continued focus on strategic initiatives and to expand upon the strength of its relationships with current and future shareholders.
Mr. Portmann joins the Company having previously spent two years with Merrill Lynch Canada Inc. as an associate in their Mining Investment Banking group. While at Merrill Lynch, he helped to advise companies in equity and debt financing, restructuring, and mergers and acquisitions. Prior to joining Merrill Lynch, Mr. Portmann spent four years at PricewaterhouseCoopers LLP working his first two years in the Assurance group before moving into the Advisory group as an associate in Transaction Services. Mr. Portmann is a Chartered Accountant. He has a Masters of Management and Professional Accounting degree from the Rotman School of Management - University of Toronto and a BSc. Eng. (Mining) from Queen's University.
Western Goldfields Inc.
Western Goldfields Inc. is an independent gold production and exploration company with a focus on precious metal mining opportunities in North America. The Mesquite Mine, currently the Company's sole asset, was brought into production in January 2008, and the Company's focus is now on achieving the anticipated rate of production and completing planned improvements to the property. With 4.3 million ounces in Measured and Indicated Mineral Resources (inclusive of reserves), Mesquite is the only multi-million ounce U.S. reserve in North America not controlled by a major gold company. Western Goldfields common shares trade on the Toronto Stock Exchange under the symbol WGI, and on the American Stock Exchange under the symbol WGW.
For further details, please visit www.westerngoldfields.com, or contact:
Raymond Threlkeld
Chief Executive Officer
(416)-324-6005
Brian Penny
Chief Financial Officer
(416)-324-6002
Hannes Portmann
Director, Corporate Development and Investor Relations
(416)-324-6014
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