February 03, 2011 17:33 ET

Phase Separation Solutions Inc.: Award of Second Contract Related to TPS Fabrication in China

CALGARY, ALBERTA--(Marketwire - Feb. 3, 2011) - West Mountain Capital Corp. (TSX VENTURE:WMT) is pleased to announce that Phase Separation Solutions Inc. ("PS2"), a Saskatchewan-based clean technology subsidiary of West Mountain, and its Chinese partner, the Nanjing Institute of Environmental Sciences ("NIES") of the State Environmental Protection Agency, Ministry of Environmental Protection for the People's Republic of China, have awarded a contract (the "Contract") to JME (Hunan) Automation Engineering Co. Ltd. of Changsha, China for the engineering, design, fabrication and assembly of the electrical, controls and instrumentation systems of the Thermal Phase Separation ("TPS") being built and operated in China.

The Contract is the second joint commitment of PS2 and NIES under their Strategic Cooperation Agreement and prescribes the engineering requirements, quality control standards, timeline for delivery and testing protocols for the fabrication and assembly of the control system required to successfully operate the Thermal Phase Separation unit. The Contractor will work in conjunction with the steel manufacturer to complete the TPS unit for operation in China.

"PS2 is continuing to move forward with our planned expansion into the emerging soil treatment market in China. The issuance of this contract is another important step in our China development," said Paul Antle, President and CEO. "We continue to be pleased with our progress to date and remain on schedule to complete construction of the first TPS unit by May 2011."

Today the priority for China in the environmental remediation sector is the restoration of properties contaminated with pesticides and PCBs. "Our partner, NIES, has identified two large scale pesticide contaminated sites that are being considered for the initial commercial operations of the TPS. The type and amount of contamination on the sites in question are conducive to TPS technology and we looking forward to show casing the TPS technology and its capabilities", said Antle.

Refer to West Mountain's news release dated August 4th, 2010 for additional information regarding NIES and the Strategic Cooperation Agreement.

About NIES:

The Nanjing Institute of Environmental Sciences is a key technical provider for policies, legislation, action plans and technical guidelines on biodiversity conservation in China, with research areas in rural environmental protection, nature conservation and biodiversity protection. NIES carries out research on rural ecology, nature conservation, pollution prevention of township and village enterprises and agriculture chemicals. NIES undertakes key national research programs and scientific research projects on the rural environment and provide scientific basis and technical support for the management of rural environments and nature and ecological conservation while assisting in the formulation and implementation of relevant action plans.

About Phase Separation Solutions:

PS2 is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. From its operations based in Wolseley, Saskatchewan it employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge and waste converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. PS2's management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and internationally throughout 14 countries.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements in respect of design and construction of a TPS unit in China and future projects that may be undertaken with such TPS Unit. The forward-looking statements and information are based on certain key expectations and assumptions made by West Mountain, including expectations and assumptions concerning the plan to remove and treat such material. Although West Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because West Mountain can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the design and construction of a TPS unit and the commencement of operations in China, failure to realize the anticipated benefits of the contract, failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to environmental regulations. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.

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