Western Prospector Group Ltd.

Western Prospector Group Ltd.

October 03, 2007 08:30 ET

Western Prospector Group Ltd.: Uranium Project-Related Cooperation With Khan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 3, 2007) - Senior management of Western Prospector Group Ltd. ("Western") (TSX VENTURE:WNP) and Khan Resources Ltd ("Khan") met recently in Ulaanbaatar for the purposes of discussing government-related issues and the mutual benefits of a closer cooperation as Western and Khan move their uranium projects towards production decisions.

Western and Khan have commenced assessment of the potential economic benefits of infrastructure sharing at the Saddle Hills uranium camp. Western and Khan have jointly engaged Aker Kvaerner to provide a preliminary evaluation of the viability of shared production infrastructure and support facilities. Results of this study are expected within 2 or 3 months.

Western owns 100% of the Gurvanbulag uranium deposit, and Khan has a 58% joint venture share of the Dornod uranium deposit, as well as a 100% ownership of an adjoining license area. The Gurvanbulag and Dornod deposits are located approximately 40 kilometres from each other in the Saddle Hills - Mardai area of the Dornod Province in northeastern Mongolia.

John S. Brock, President and CEO

Forward-Looking Information:

This release includes certain statements that may be considered "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Such statements may be identified in this release by the use of words such as "will" and "expects" and "may" 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, and government policies and legislation. 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. These statements are based on a number of assumptions, including assumptions regarding general business and economic transactions and exploration and development programs on reasonable terms, the ability of third-party services providers to deliver services in a timely manner, and the reliability of information provided to the Company by third parties. 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.


In the news release of March 3, 2006, the Company advised that a lawsuit naming it 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 it are without foundation or merit and, as previously noted will vigorously defend the action and take all appropriate steps to protect its interests. In this regard a trial date has been set for February 25, 2008. Additional information on this issue is available at 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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