Western Prospector Group Ltd.

Western Prospector Group Ltd.

October 12, 2007 11:52 ET

Western Prospector Group Ltd. Appoints John S. Brock as Chairman, and Names Eric Bohren President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2007) - Western Prospector Group Ltd. (the "Company") (TSX VENTURE:WNP) today announced its Board of Directors appointed John S. Brock as Chairman of the Board, and named Eric Bohren to serve as President and CEO.

John S. Brock, co-founded Western Prospector, raised over $80 million for its development plan, led its purchase of the Saddle Hills properties, and has successfully directed the exploration program through to classification of its resources. As Chairman of the Board, and Director, Mr. Brock will continue to be actively involved advancing Western Prospector towards a production decision in 2008. Mr. Brock is a geologist and geophysicist with over 40 years experience in the mining industry, and has participated in a number of mine finding discoveries. John Brock has also served as a Governor of the former Vancouver Stock Exchange (VSE) and the Canadian Venture Exchange (CDNX).

Eric Bohren has served as a Director of Western Prospector since November 2006 and has been involved in the Company's corporate development, litigation, and Mongolian government initiatives. Mr. Bohren has over 15 years experience working with international public and private companies in the areas of strategy, finance, corporate and business development. He has participated in over 30 joint venture, financing, and mergers and acquisitions transactions, with companies such as Booz Allen & Hamilton, ETrade, and ZANTAZ. Most recently, Mr. Bohren was Senior Director of Corporate and Business Development at ZANTAZ-Autonomy (LSE:AU), an international technology company.

Mr. Bohren received an MBA in Finance from the Wharton School of Business, and an MA in International Studies from the Lauder Institute at the University of Pennsylvania. He also holds a BA in Political Science from UC Berkeley. Early in his career, Mr. Bohren worked in Paris, France for the U.S. Department of State, and the Matra-Hachette Group.

"Eric brings strong execution skills, international and corporate development experience that will drive shareholder value for Western Prospector. We thank John for his stewardship of the Company, and look forward to his continued involvement as Chairman," said Felix Pardo, on behalf of the Board of Directors of Western Prospector.

Eric Bohren, President and CEO

John S. Brock, Chairman of the Board of Directors

Note Regarding Forward-Looking Statements

This press release and other written or oral communication from the Company may include certain statements that may be considered "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Statements other than historical facts, that address possible future events, plans or developments that are forward-looking statements. Such statements may be identified by the use of words such as "will", "may", "expects", "estimate", "intend" or the use of the future or conditional tense. Certain material factors or assumptions were applied in drawing our conclusions and making those forward-looking statements. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements.

Risks and uncertainties that could cause actual results to differ materially from those in our forward-looking statements include, among other things, the fact that we are a mineral exploration and development company which activity involves an inherent degree of risk and may not result in our developing a body of commercial ore, the long time horizons involved in the mineral exploration and development projects, risks associated with operating and holding mineral interests in other countries, particularly Mongolia, the outcome of the litigation commenced against the Company and others in the Supreme Court of British Columbia, in which the plaintiff, Maximum Ventures, Inc. is seeking, among other things, a declaration that the Company holds certain of its material Mongolian properties, including a portion of the Saddle Hills Uranium interests in trust, the numerous operating hazards and liabilities, including possible environmental liabilities, inherent in mineral exploration and development, significant costs and capital requirements, risks associated with securing and maintaining title to properties or enforcing agreements with other third parties, the need for significant and continued availability of capital and financing, commodity prices, general economic, market or business conditions, and governmental policies and legislation,

These forward-looking statements are based on certain material factors and assumptions, including general business and economic conditions, the terms and conditions governing our exploration and development programs, the ability of third-party services providers to deliver products or services in a timely manner and the reliability of information provided to the Company by third parties, among others. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this release are given as of the date hereof. Readers are cautioned not to place undue reliance on these forward looking statements as there can be no assurance that the conditions, events, plans or assumptions on which they are based will occur. Readers should perform their own detailed, independent investigation and analysis of the Company before making any investment decision and are encouraged to seek independent professional advice. All of the future looking statements in this document are expressly qualified by the above.

Readers are cautioned that the above list is not exhaustive and that risks may change or new risks may emerge. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com and available on the Company's website at www.westernprospector.com.

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

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