Western Prospector Group Ltd.

Western Prospector Group Ltd.

November 12, 2007 09:00 ET

Western Names Charles J. Pullin as the Chief Financial Officer

Seasoned Executive Brings Strong Financial and International Expertise to Western

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2007) - Western Prospector Group Ltd. (the "Company") (TSX VENTURE:WNP) is pleased to announce the appointment of Charles J. Pullin as its Chief Financial Officer.

Charlie Pullin has served as a Director of Western Prospector since June 2007 and served until this appointment as Chair of its audit committee. Mr. Pullin has over 20 years' experience working with international public and private companies in the areas of finance, information technology and business development. He has participated in more than $250 million of debt, equity and bank financing transactions, both in the public markets and with private investors, for mid-market companies located in the United States, Brazil and Australia. Most recently, Mr. Pullin was Vice President and Chief Financial Officer at Viskase Companies, Inc., a chemicals and food packaging manufacturer with operations located throughout the Americas and Western Europe.

Mr. Pullin received a BS and an MBA from the Weatherhead School of Management at Case Western Reserve University. Early in his career, he worked as an auditor for Ernst & Whinney where he earned his Certified Public Accountant certification.

Jeannine P. M. Webb resigned her position as CFO and Corporate Secretary and says she would be pleased to continue to provide support services to the new CFO.

"Charlie Pullin has a strong track record of managing international finance and operations in emerging countries, and possesses the capital raising expertise that will enable Western to execute on its near-term production plan, which is targeted for 2010," said Eric Bohren, President and CEO.

In connection with Mr. Pullin's appointment, the Company granted a stock option under its Stock Option Plan for the purchase up to 400,000 common shares. The options are exercisable at $1.94 per share until November 11, 2012, and vest as to 25% on the date of grant, 25% in one year and 50% in two years, subject to the terms and conditions of the Company's Stock Option Plan.

Eric Bohren, President and CEO

For further information:


Forward-Looking Information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Western Prospector Group Ltd. (the "Company") expects to occur, are forward-looking statements. Such statements are identified in this release by the use of words such as "will" and "expected" as well as the use of the future or conditional tense. Forward-looking statements in this document include statements regarding future production, reserve or resource potential, and future exploration and development plans (including the Company's 2007 Work Plan). 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. 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.

Information Concerning Estimates of Mineral Resources:

This news release uses the terms "inferred resources", "indicated resources", "mineral resources" and "resources". Western Prospector Group Ltd. (the "Company") advises investors that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "inferred resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.


In the news release of March 3, 2006, Western advised that a lawsuit naming Western Prospector 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 Western Prospector holds certain of its material Mongolian properties, including a portion of the Saddle Hills Uranium interests, in trust for Maximum. Western is of the view that Maximum's allegations against Western are without foundation or merit and, as previously noted, Western will vigorously defend the action and take all appropriate steps to protect Western's interests. In this regard a trial date has been set for February 25, 2008. Additional information on this issue is available at Western's website at www.westernprospector.com.

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

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