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News release via Canada NewsWire, Toronto 416-863-9350

    Attention Business Editors:
    Western Goldfields Signs Mandate Letter for up to $105 Million of
    Project Debt Financing with Investec Bank (UK) Limited

    <<
    -  Completion of the financing will enable the Company to move forward in
       its plans to develop the Mesquite Mine in California, with a target
       production date of April 2008
    -  Upon completion, funds will be used in part for recently-issued
       purchase orders for $60.9 million of fleet equipment expected to
       arrive in mid-2007
    >>

    TORONTO, Nov. 30 /CNW/ - Western Goldfields, Inc. (TSX: WGI, OTC BB:
WGDF.OB) today announced that it has signed a mandate letter with Investec
Bank (UK) Limited (Investec) to arrange and underwrite a $105 million project
debt financing facility and that it has received an indicative term sheet
associated with the mandate. All currency amounts are in U.S. dollars.
    The indicative term sheet is for a $105 million eight-year term loan
facility. Interest would be charged at U.S. Libor plus 2.20% pre-completion
and 1.75% post-completion. The indicative term sheet is subject to due
diligence and signing a definitive agreement. Closing is anticipated to occur
in the first quarter of 2007.
    "We have been considering a number of competitive financing proposals and
we are pleased with the terms negotiated with Investec," said Brian Penny,
Chief Financial Officer. "Signing the mandate will allow us to continue to
advance the development of our Mesquite Mine in California, and we expect the
project debt facility to be in place prior to the arrival of the mining fleet
scheduled for mid-2007. This will enable Western Goldfields to meet our goal
of average annual production of 165,000 ounces of gold at total cash cost of
approximately $335 per ounce commencing in April 2008," Mr. Penny added.
    Investec is an international specialist banking group that provides a
diverse range of financial products and services to a niche client base. The
banking group's shares are listed on the London and Johannesburg stock
exchanges and the facilities will be arranged through the bank's Commodities
and Resource Finance division in London.

    Western Goldfields, Inc.
    ------------------------

    Under a new, highly experienced, and dynamic management team, Western
Goldfields is a gold producer focused on completing the expansion of its
Mesquite Mine, located in Imperial County, California, and returning the mine
to full production. Western Goldfields acquired the Mesquite property in 2003
from Newmont Mining Corporation. Newmont operated the mine until 2001 when it
ceased operations, as the low gold prices at that time did not support
expansion plans. However, Newmont continued the permitting process for
expansion, and the permits were approved in 2002. Western Goldfields has
continued producing gold from ore placed on heaps by the previous owners, and
expects gold production in 2006 to be about 14,000 ounces.
    Western Goldfields, Inc. is listed on the Toronto Stock Exchange and
trades under the symbol WGI and is quoted on the OTCBB under the symbol
WGDF.OB. For further details, please visit www.westerngoldfields.com.

    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 terms and 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, 2005 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: 00021587E          %CIK: 0001208038

    /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;
Richard Wertheim, Investor and Media Relations, Wertheim + Company Inc.,
(416)-594-1600, wertheim(at)wertheim.ca/
    (WGDF WGI.)

CO:  Western Goldfields, Inc.

CNW 16:10e 30-NOV-06
0-50894	38-3661016
(Commission File Number)	(IRS Employer Identification No.)
2 Bloor Street West, Suite 2102 , P.O. Box 110
Toronto, Ontario, Canada	M4W 3E2
(Address of Principal Executive Offices)	(Zip Code)
	By:	/s/ Brian Penny
	Name:	Brian Penny
	Title:	Chief Financial Officer