Appendix 3B New issue announcement Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Golden West Resources Limited

ABN

54 102 622 051

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued

Ordinary Fully Paid Shares

Unlisted Options

2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

59,880 Ordinary Fully Paid Shares

700,000 Unlisted Options

3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount

outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Ordinary Fully Paid Shares - same terms as existing fully paid shares except that they are subject to a trading lock for 3 years from the date of issue, unless the recipient ceases to be employed by the Company

Unlisted Options - exercisable at $0.58 each expiring 4 January 2016

+ See chapter 19 for defined terms.

24/10/2005Appendix 3B Page 1

Appendix 3B New issue announcement

4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?
If the additional securities do not rank equally, please state: