Western Prospector Group Ltd.
TSX VENTURE : WNP

Western Prospector Group Ltd.

January 24, 2007 12:50 ET

Western Prospector Group Ltd.: Shares Payment Made for Mongolian Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 24, 2007) -

NOT FOR DISSEMINATION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Western Prospector Group Ltd. (TSX VENTURE:WNP) (the "Company"), in connection with a March 15, 2004 agreement (the "Brant Agreement") between the Company and Brant Enterprises Inc. ("Brant"), a private company registered in Antigua and 100% of its shares are indirectly controlled by Kenneth B. de Graaf, made payment to Brant on December 19, 2006 of 1,500,000 shares of the Company. The shares are subject to a four-month hold period under Canadian securities legislation and accordingly will become 'free trading" on April 20, 2007. The Company has previously paid Brant a total of 5,500,000 shares under the Brant Agreement. The payment of the final tranche of 1,500,000 shares became due upon verification of the Company having made a total of US$10,000,000 exploration expenditures on the Mongolian mineral properties acquired in 2004 under the Brant Agreement. The Company's share payment obligation of up to 7,000,000 shares and all other material obligations under the Brant Agreement have been fulfilled.

The majority of the US$10,000,000 spent to date has been made on exploration licenses held by the Company within the area of the Saddle Hills Uranium Project located in Mongolia.

As noted in news release #06-04 dated March 3, 2006, a lawsuit naming the Company as a defendant has been commenced 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 for Maximum.

The Company is of the view that Maximum's allegations against the Company are without foundation or merit and, as noted in the previous news release, the Company will vigorously defend the action and take all appropriate steps to protect the Company's interests.

John S. Brock, President and CEO

Forward-Looking information:

This release includes certain statements that may be deemed "forward-looking statements." All Statements in this release, other than statements of historical facts, that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that Western Prospector Group Ltd. (the "Company") expects to occur, are forward-looking statements. Such statements are identified in this release by the use of words such as "will" and "expected" as well as the use of the future or conditional tense. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic market or business conditions. Investors are cautioned that any such statements are not guarantee of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. 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.

Litigation:

All statements in this release, other than statements of historical facts, that relate to Western Prospector's expectations regarding the outcome of the litigation and events or developments that Western Prospector expects to occur, are forward-looking statements. Such statements are identified in this release by the use of words such as "will" and "expected" as well as the use of the future or conditional tense. Although Western Prospector believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statement are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include risks associated with litigation and other risk factors generally set forth in Western Prospector's public filings. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Western Prospector does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

For more information on the Company, Investors should review the Company's filings available at www.sedar.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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