Lumina Resources Corp.

Lumina Resources Corp.
Western Copper Corporation

Western Copper Corporation

October 25, 2006 08:30 ET

Western Copper and Lumina Resources Execute Definitive Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 25, 2006) - Western Copper Corp. (TSX:WRN) ("Western") and Lumina Resources (TSX:LUR) ("Lumina") today announced that they have signed a definitive Arrangement Agreement under which Western Copper Corp. will acquire, through a previously announced plan of arrangement, all of the outstanding shares of Lumina Resources.

Under the agreement, each Lumina shareholder will receive one common share of Western for each issued Lumina share held at November 29, 2006.

Complete details of the Arrangement Agreement will be included in the information circular expected to be filed and sent to Lumina shareholders on October 30, 2006 and will also be accessible on Western Copper's and Lumina Resource's websites. A special meeting of Lumina shareholders will take place on November 24, 2006 in order to vote on the transaction. Subsequent to approval at the shareholder meeting and receipt of regulatory and court approvals, the transaction is scheduled to close by November 29, 2006.

Lumina Resources is a publicly traded mineral exploration company focused on discovering and developing copper, gold and molybdenum at its three Canadian properties including Hushamu in British Columbia, Casino in the Yukon Territory and Redstone in the Northwest Territories.

Western Copper Corp. holds approximately C$38 million in cash, the 100% owned Carmacks Copper Project in the Yukon Territory and the early-stage Sierra Almoloya exploration project in the Central Mexican Silver Belt in Chihuahua State, Mexico which is currently being explored by the optionee.

On behalf of Western Copper and Lumina Resources,

F. Dale Corman, Chairman and C.E.O., Western Copper Corp.

David Strang, President and C.E.O., Lumina Resources

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Western Copper Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • Western Copper Corp.
    David Jensen
    VP - Corporate Development
    (604) 684-9497 or Toll Free: 1-888-966-9995
    Lumina Resources Corp.
    David Strang
    (604) 687-0407