Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Western Goldfields Continues to be Quoted on the OTC Bulletin Board
TORONTO, July 24 /CNW/ - Western Goldfields Inc. (TSX:WGI,
OTC BB:WGDFF.OB) announced today that its common shares will continue to be
quoted on the OTC Bulletin Board under the symbol "WGDFF". Due to a
miscommunication relating to the Company's recent reorganization, the
Company's common shares were briefly removed from the OTC Bulletin Board and
were instead quoted on the Pink Sheets. Quotation in the Company's common
shares will resume tomorrow, July 25, 2007, on the OTC Bulletin Board.
Forward-Looking Information
---------------------------
Certain statements contained in this news release and subsequent oral
statements made by and on behalf of the Company may contain forward-looking
information within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and similar Canadian legislation. Such
forward-looking statements are identified by words such as "intends",
"anticipates", "believes", "expects", and "hopes" and include, without
limitation, statements regarding the Company's plan of business operations,
timing and costs to recommence commercial production, economic viability of
the Mesquite Mine, financing options, including entering into a debt financing
arrangement, and the consequences thereof, potential contractual arrangements,
receipt of working capital, anticipated revenues, exercise of outstanding
warrants, and capital and operating expenditures. There can be no assurance
that such statements will prove to be accurate; actual results and future
events could differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, those set forth in
the Company's Annual Report on Form 10-KSB for the year ended December 31,
2006 filed with the U.S. Securities and Exchange Commission, under the
caption, "Risk Factors". Most of these factors are outside the control of the
Company. Investors are cautioned not to put undue reliance on forward-looking
statements. Except as otherwise required by applicable securities statutes or
regulation, the Company disclaims any intent or obligation to update publicly
these forward-looking statements, whether as a result of new information,
future events or otherwise.
%SEDAR: 00025569E %CIK: 0001394186
/For further information: please visit www.westerngoldfields.com, or
contact: Brian Penny, Chief Financial Officer, (416) 324-6002,
bpenny(at)westerngoldfields.com; Julie Taylor Pantziris, Director, Regulatory
Affairs and Investor Relations, (416) 324-6015, jtaylor(at)westerngoldfields.com/
(WGDFF WGI.)
CO: Western Goldfields, Inc.
CNW 16:27e 24-JUL-07
