GWR Closes $1,750,000 Flow-Through Financing With MineralFields Group

ARMSTRONG, BC, Dec. 1 /CNW/ - GWR Resources Inc. ("GWR" or the "Company") (TSX Venture: GWQ) is pleased to announce that it has closed its non-brokered private placement (the "Private Placement") announced on November 29, 2010 in the amount of $1,750,000 with the MineralFields Group.  The Private Placement is MineralFields Group's seventh financing of GWR.

Pursuant to the Private Placement, the Company issued an aggregate of 6,250,000 units (the "Units").  Each Unit was priced at $0.28 and consisted of one "flow-through" common share and one-half of one transferable common share purchase warrant of the Company, with each whole warrant entitling the holder to purchase one common share of the Company until November 30, 2012 at an exercise price of $0.50 per share; provided however, that if the closing sale price of the common shares of the Company on the TSX Venture Exchange is greater than $0.70 for at least 20 consecutive trading days in the period from March 31, 2011 to November 30, 2012, the Company may accelerate the expiry date of the warrants by giving notice to the warrantholders by issuing a news release, and in such case the warrants will expire on the 30th day after the date on which such notice is given.

Limited Market Dealer Inc. ("LMDI") received the compensation described in the Company's news release dated November 29, 2010.

All the securities issued in the Private Placement are subject to a hold period which under the applicable securities laws and the Exchange policies expires on March 31, 2011.

"We are pleased that our relationship with MineralFields Group is ongoing as we continue to develop our mineral property in British Columbia and to explore our mineral property in Quebec", said Irvin Eisler, President of GWR.  "This is an exciting time for GWR.  We have two drilling rigs operating double 12 hour shifts in BC and we are now planning our 2010 exploration program for QB."

The net proceeds of this Private Placement will be used for general exploration expenditures on GWR's Lac La Hache Property in British Columbia and Sainte Sabine Property in Quebec. The Private Placement is subject to the final acceptance by TSX Venture Exchange.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto,  Vancouver, Montreal and Calgary, 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 www.mineralfields.com.  First Canadian Securities ® (a division of Limited Market Dealer Inc.) 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 ®.

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.

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law GWR does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires GWR to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

For further information:

Responsible Officer: Irvin Eisler, President
Company Telephone Number: [phone]