Western GeoPower Corp.

Western GeoPower Corp.

September 16, 2005 20:37 ET

Western GeoPower Corp.: Granting Of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 16, 2005) - Western GeoPower Corp. (TSX VENTURE:WGP)(FWB:WE6.F)(NOTC:WGEO)(the "Company"), announces the granting of 1,665,000 incentive stock options to purchase capital stock of the Company at a price of $0.35 per share for a period of five years under the Stock Option Plan, to its directors, officers, consultants and employees. The granting of these options is subject to acceptance for filing by the TSX Venture Exchange.

The Company has also amended the previously issued incentive stock options to $0.35 per share. The re-pricing of the options to insiders is subject to shareholder approval. The amendment of these options is subject to acceptance for filing by the TSX Venture Exchange.

Corporate Overview:

Western GeoPower Corp. is dedicated to the development of its 100% owned, South Meager Geothermal Project, held under a geothermal lease for the commercial production of electricity. The project, located 170 km north of Vancouver, B.C., is in close proximity to Whistler, the location of the 2010 Winter Olympic Games, and is the most advanced geothermal project in Canada. The Company currently is conducting a feasibility study to confirm the commercial viability of the South Meager Project to support an initial generation of 100 megawatts of electricity by 2008. The estimated development potential is 200 megawatts of electricity, which is equivalent to the power consumption of 160,000 households.

On behalf of Western GeoPower Corp.

"Kenneth MacLeod"
Kenneth MacLeod, President and CEO

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation's periodic filings with the British Columbia Securities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not intend to update this information and disclaims any legal liability to the contrary. This news release is not for dissemination in the United States of America or to United States of America news services.

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

Contact Information

  • Western GeoPower Corp.
    Kenneth MacLeod
    President and CEO
    (604) 662-3338 or US/Canada Toll Free: 1-866-662-3322
    (604) 646-6603 (FAX)
    Western GeoPower Corp.
    Investor Relations
    (604) 662-3338 or US/Canada Toll Free: 1-866-662-3322