News Releases

GWR Closes $500,000 Flow-Through Financing With MineralFields Group

December 31, 2008

ARMSTRONG, BRITISH COLUMBIA - GWR Resources Inc. (“GWR” or the “Company”) (TSX Venture: GWQ) is pleased to announce that it has closed its private placement in the amount of $500,000 with the MineralFields Group.

GWR issued an aggregate of 2,941,176 units. Each unit is priced at $0.17 and consists of one “flow-through” common share and one transferable warrant, with each warrant entitling the holder to purchase one common share of GWR for a period of 24 months following the closing of the Private Placement (the “Closing”) at an exercise price of $0.20.

Limited Market Dealer Inc. (“LMDI”) has received a cash finder’s fee of $30,000 representing 6% of the gross proceeds from the private placement as well as a non-transferable option (the “LMDI Option”) to acquire 235,294 units of the Company (the “LMDI Units”) equivalent to 8% of the total units sold in the private placement. The LMDI Option is exercisable for a period of 24 months following the Closing into LMDI Units at an exercise price of $0.15 per LMDI Unit, each such unit consisting of one common share of the Company and one non-transferable warrant, with each such warrant entitling the holder to purchase one common share of GWR for a period of 24 months following the Closing at an exercise price of $0.20 per share.

All the securities issued in the private placement are subject to a hold period which under the applicable securities laws and the Exchange policies will expire on May 1, 2009.

“We are pleased with the ongoing support of the MineralFields Group, with this being their 5th financing of GWR”, said Irvin Eisler, President of the Company. “This continuing relationship with MineralFields Group is an important ingredient for the ongoing growth of GWR and the development of our mineral properties in British Columbia”.

The proceeds of this financing will be used to fund the Company’s ongoing exploration program on its properties near Lac La Hache, B.C.

About MineralFields, Pathway and First Canadian Securities (r)

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at First Canadian Securities (r) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (r).

For further information, please contact:

Responsible Officer: Irvin Eisler, President
Company Telephone Number: (250) 546-8048

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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