04/28/2005- announces year end results

[Franko10 ™]

Wescan Goldfields Inc. announces year end results
Stock Symbol: WGF: TSX-V

SASKATOON, SK, April 28 /CNW/ - Wescan Goldfields Inc. ("Wescan") reports
the audited results of Wescan's operations for the year ended December 31,
2004 have been filed and may be viewed at www.sedar.com. A summary of key
financial and operating results for the year follows:

Highlights

- Successful completion of Initial Public Offering for gross proceeds of
$1.4M on October 7, 2004
- A prospective portfolio of gold properties acquired from
Shore Gold Inc.
- Successful completion of additional financing for $1.4M in
December 2004
- Working capital of $2.1M at year end
- Issued and outstanding shares of 31,074,493 at December 31, 2004

Property Acquisitions

During 2004, the Company acquired mineral property interests in three
gold properties with a carried value of $271,063 from its then parent company,
Shore Gold Inc. in exchange for 12,000,000 common shares of Wescan.
Specifically, these properties include a 100% interest in the Fork Lake
property (Jasper Mine), a 51% interest in the Munro Lake property and a 25%
interest in the Jojay property. These properties are located in the La Ronge
gold belt in northern Saskatchewan and are favoured with good access and
infrastructure.

Financing

Wescan closed its Initial Public Offering ("IPO") on October 7, 2004. The
IPO resulted in the issuance of 14,000,000 shares for gross proceeds of $1.4 M
that will be used for exploration activities as well as for general working
capital purposes. The Company undertook a private placement financing towards
the end of 2004 to further complement its cash position to insure that cash
reserves would be sufficient to pursue opportunities as they present
themselves. This financing was made up of 2,394,000 units for gross proceeds
of $598,500 and 2,680,393 flow-through shares for gross proceeds of $804,118.

Year End Results

As at December 31, 2004, Wescan's cash balance, which included cash, cash-
in-trust, and short-term investments totaled $2.1M. Wescan recorded a loss of
$228,400 ($0.02 per share), which compares with a loss of $108,153 ($1,081.53
per share) for the year ended December 31, 2003. Operating expenses increased
to $236,029 compared to $108,153 for the year ended December 31, 2003.

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Selected financial highlights include 2004 2003
(as at December 31): ($) ($)
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Current assets 2,157,888 535
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Capital and other assets 287,745 -
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Current liabilities 37,497 108,688
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Share capital 2,685,399 -
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Contributed surplus 59,290 -
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Deficit 336,553 108,153
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Operating Expenses 236,029 108,153
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Loss for the period before income taxes 228,400 108,153
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Net loss for the period 228,400 108,153
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Loss per share 0.02 1,081.53
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Cash flows from operating activities (251,533) -
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Cash flows from investing activities (16,682) -
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Cash flows from financing activities 2,414,336 -
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Net increase in cash 2,146,121 -
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Cash - beginning of period - -
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Cash - end of period 2,146,121
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Outlook

The primary focus during 2005 will be to commence specific exploration
programs on the Company's existing property portfolio as well as carrying out
due diligence on other potential property positions to further enhance the
Company's existing property portfolio with a view to becoming a junior
producing company in the near future. At the time of writing this news
release, drill crews had been mobilized on two of the properties in which
Wescan has an interest. Also, on March 2, 2005 the Company acquired a 50%
working interest in 7 prospecting permits in northern Saskatchewan. These
properties are situated in and around the Athabasca Basin and cover a range of
geologic settings normally prospective for uranium mineralization.

Caution Regarding Forward-looking Information

Some of the statements contained in this report are forward-looking
statements, such as estimates that describe the Company's future plans,
objectives or goals. This includes words to the effect that the Company or
management expects a stated condition or result to occur. Since forward-
looking statements address future events or conditions, by their very nature
they involve inherent risks and uncertainties. Actual results in each case
could differ materially from those currently anticipated in such statements.

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For further information: Mr. George Sanders, President, 300 - 224 4th
Avenue South, Saskatoon, SK, S7K 5M5, PH: [phone], FAX: [phone];
Mr. Harvey Bay, Chief Financial Officer, 300 - 224 4th Avenue South,
Saskatoon, SK, S7K 5M5, PH: [phone], FAX: [phone]