Western GeoPower Corp.
TSX VENTURE : WGP
FRANKFURT : WE6

Western GeoPower Corp.

May 28, 2009 08:30 ET

Change in Directors of Western GeoPower

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 28, 2009) - Western GeoPower Corp. (WGP) (TSX VENTURE:WGP)(FRANKFURT:WE6), a renewable energy company, today announced that Gudmundur F. Sigurjonsson has been appointed a director of the company.

An Iceland-based professional engineer, Sigurjonsson has an extensive background in project engineering and management. His general and international experience in project execution and project control includes work in Iceland, Denmark, New Zealand and the Philippines. His core competences include cost engineering, feasibility assessments and business modeling.

Sigurjonsson is the principal of FnF Limited, a management consulting business. Through FnF, Sigurjonsson is an advisor to Geysir Green Energy, a global leader in the development of, and investment in, geothermal power. Through FnF, Sigurjonsson is also the chief executive of Envent Holding Philippines, a joint venture between Geysir Green Energy and Reykjavik Energy Invest. Envent was established to develop renewable energy projects in the Philippines.

Sigurjonsson graduated from the University of Iceland with a Bachelor of Science degree in chemistry and earned his masters of engineering from the Technical University of Denmark.

He replaces Asgeir Margeirsson of Geysir Green Energy, who resigned as a director of Western GeoPower.

Kenneth MacLeod, the company's president and CEO, said: "We are grateful for Margeirsson's contributions in the past, and look forward to working with Sigurjonsson whose experience and background will be an asset as the corporation moves forward. This appointment will strengthen the company's relationship with our largest shareholder Geysir Green Energy and with the geothermal industry in Iceland."

About Western GeoPower Corp.

Western GeoPower Corp. is a renewable energy company dedicated to the development of geothermal energy projects for the delivery of clean, sustainable, baseload electricity generation. The Company is developing The Western GeoPower Unit 1 geothermal power plant at The Geysers Geothermal Field in Sonoma County, California, United States; the South Brawley geothermal project in Imperial County, California, United States; and the South Meager geothermal project in British Columbia, Canada.

On behalf of the Board of Western GeoPower Corp

Kenneth MacLeod, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release contain forward-looking information within the meaning of applicable securities laws in Canada ("forward-looking information"). The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words.

The forward-looking information in this press release includes, but is not limited to: Sigurjonsson's appointment will strengthen the Company's relationship with its largest shareholder Geysir Green Energy and with the geothermal industry in Iceland.

The forecasts and projections that make up the forward-looking information are based on assumptions which include, but are not limited to: the Company is not subjected to any material adverse events normally associated with exploration, development and production of natural resources; the Company is not subjected to additional governmental regulation and that political attitudes towards geothermal production does not change; the Company is able to remain in compliance with its debt obligations; the Company's resource estimates are accurate; the Company's insurance is adequate and that it does not incur any material uninsured liability; the Company is able to comply with environmental regulations; the Company has access to suitable infrastructure; no title defects affect the Company's properties; the Company receives necessary permits on acceptable terms; no material new competition; no significant fluctuation in currency exchange rates and interest rates; the Company is able to access additional capital; no material fluctuations in energy prices; continued access to the Company's key personnel; and, no conflicts of interest arise.

The forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information. The factors which could cause results to differ from current expectations include, but are not limited to: risks normally associated with exploration, development and production of natural resources; risks relating to government regulation; risks relating to indebtedness; risks relating to the reliability of resource estimates; no history of geothermal production; insurance and uninsured risks; environmental risks and hazards; lack of access to required infrastructure; land title defects; risks relating to obtaining permits on acceptable terms; competition; fluctuations in currency exchange rates and interest rates; risks relating to raising additional capital; fluctuations in energy prices; reliance on key personnel; conflicts of interest; and, other risks described in the Company's Management Discussion & Analysis and other continuous disclosure documents.

All forward-looking information in this press release is qualified in its entirety by this cautionary statement and, except as may be required by law, the Company undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.

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

Contact Information

  • Western GeoPower Corp.
    Nicole Robson
    Marketing and Media
    Office (604) 662-3338 or US/Canada Toll Free: 1-866-662-3322
    info@geopower.ca
    Investor Relations: ir@geopower.ca