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WWF.H Winfield Resources Limited

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Share Name Share Symbol Market Type
Winfield Resources Limited TSXV:WWF.H TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Winfield Resources Limited: Mauritanian EPMC Refinery Proposal

26/01/2008 12:22am

Marketwired Canada


THIS RELEASE IS NOT INTENDED FOR DISTRIBUTION IN THE UNITED STATES

Winfield Resources Limited (NEX:WWF.H) announces it has made a proposal for its
own account; to build, own and operate a new 300,000 bbl/day oil refinery at the
Port of Nouakchott, in the Islamic Republic of Mauritania.


By letter dated January 25, 2008 the Company was invited to put forward a
detailed proposal to the Government of Mauritania for the installation of a new
stand alone oil refinery at Nouakchott.


Based on such invitation, the Company has engaged KBC Process Technology Ltd.
(www.kbcat.com) of Surrey, UK, under a Services Agreement (dated December 7,
2008), to provide consulting services and technical support to include Refinery
Configuration Review; Refinery Product Yields and Qualities; Marketing Plans;
Technology Selection and Licensor Selection; Energy Efficiency Review; Project
Design Basis Document review and Project Schedule strategy review. To date the
Company has paid KBC $60,000 under the Service Agreement.


Representatives of the Company and KBC will meet with Mauritanian authorities
February 2 - 7, 2008, and make a technical presentation on the proposed refinery
configuration, product yields and technology.


KBC is a leading independent consulting and technology group delivering
competitive advantage through improvements in business performance and asset
value to owners and operators in the oil refining, petrochemical, and other
processing industries worldwide.


The Company wishes to confirm that it has not entered into, settled or
negotiated any agreements (oral or written), or any agreement in principle, and
that a Change of Business has not yet been triggered (as such term is defined in
section 1.1 of TSX-V Policy 5.2). It must also be noted that with respect to the
proposed refinery at the Port of Nouakchott, Mauritania, the Company has no firm
commitment from the Government of Mauritania, and the Company is only at the
stage where it is investigating the opportunity. There is no assurance the
Company will receive conditional or final approval from the Mauritanian
Government to construct and operate a refinery at the Port of Nouakchott on
terms acceptable to the Company, or at all. There is also no assurance the
Company will be able to source crude oil feedstock or financing for such
refinery project.


On behalf of the Board

Robert Michael Foley, President and CEO

Certain statements herein may constitute "forward looking" statements that
involve known and unknown risks, uncertainties and other factors that may cause
our actual results to be materially different from any future results expressed
or implied by such forward looking statements. These statements relate to future
events and reflect the expectations of management regarding business prospects
and opportunities. Such forward looking statements reflect current beliefs of
management or of the third parties to which they are attributed and are based on
information currently available to us. In some cases, the statements use such
words as "may", "will", "intend", "should", "expect", "believe", "plan",
"anticipate", "estimate", "predict", "potential", "continue" or the negative of
these terms or other similar terminology. These statements reflect current
expectations regarding future events and speak only as of the date hereof, or in
the case of third party statements as of the date on which they were made.
Forward looking statements involve significant risks and uncertainties, should
not be read as guarantees of future results, and will not necessarily be
accurate indications of whether or not such results will be achieved, and there
can be no assurance that actual results will be consistent with these forward
looking statements.


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