Western Copper Corporation
TSX : WRN

Western Copper Corporation

July 13, 2009 08:00 ET

Western Copper Closes C$4 Million Flow-Through Financing and Commences Exploration Activities

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2009) - Western Copper Corporation ("Western Copper" or the "Company") (TSX:WRN) is pleased to announce that, further to its news release dated July 06, 2009, it has completed a flow-through financing (the "Offering") for gross proceeds of C$4,000,000, representing 100% subscription.

The gross proceeds will be used for exploration activities, primarily at the Company's world class Casino gold-copper-molybdenum project located in the Yukon. Exploration activities at Casino will commence immediately consisting initially of a Quantec Titan 24 Deep Penetrating IP geophysical survey to expand our understanding of the extent of the deposit limits, followed by a drilling program of approximately 10,000 metres.

Pursuant to the Offering, Western Copper issued 4,000,000 units, comprised of one flow-through common share of the Company at a price of C$1.00 and one-half of one common share purchase warrant. Each whole warrant will be exercisable for one non flow-through common share of the Company at a price of C$1.25 per common share and will expire three years following closing. If, commencing on the date that is four months plus one day following the closing of the Offering, the weighted average trading price of the Company's common shares on the TSX is at a price equal to or greater than C$2.00 for twenty consecutive trading days, the Company will have the right to accelerate the expiry date of warrants by giving thirty days written notice to the holder.

Casimir Capital L.P. acted as the agent (the "Agent") of the Offering, while Kingsdale Capital Markets Inc. participated as part of the selling group. At the closing, the Agent received a cash commission and warrants ("Agent's Warrants"), both equal to 6% of the gross proceeds raised. Each warrant will be exercisable for one non flow-through common share of the Company at a price of C$1.25 per common share and will expire two years following closing. If the weighted average trading price of the Company's common shares on the TSX is at a price equal to or greater than C$1.75 for fifteen consecutive trading days, the Company will have the right to accelerate the expiry date of the Agent's Warrants by giving thirty days written notice to the Agent.

As a result of the completion of the Offering, Western Copper's share structure consists of 76,819,036 common shares, 4,116,834 options and 2,240,000 warrants, totaling 83,175,870 fully diluted shares.

In accordance with securities legislation currently in effect, the flow through shares, warrants, any common shares issued on exercise of the warrants, and Agent's Warrants will be subject to a hold period of four months plus one day extending from the closing date of the transaction.

ABOUT WESTERN COPPER CORPORATION

Western Copper is a Vancouver based exploration and development company with significant gold, copper and molybdenum resources and reserves. The Company has 100% ownership of four Canadian properties. The two most advanced projects are the Carmacks Copper Project and the Casino Project both located in the Yukon Territory. The Casino Project is one of the world's largest open-pittable copper, gold and molybdenum deposits. For more information, visit www.westerncoppercorp.com.

On behalf of the board,

F. Dale Corman, Co-Chairman & CEO

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, financing plans, exploration results and future plans and objectives of Western Copper are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Cautionary Note to U.S. Investors:

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Certain terms, such as "measured," "indicated," and "inferred" "resources," are used in the Company's disclosure documents filed in Canada that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in Western Copper's Form 20-F, File No. 000-52231, which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.shtml.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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