Western Prospector Group Ltd.

Western Prospector Group Ltd.

November 18, 2008 06:00 ET

Western Prospector Commences Legal Action Against Tinpo

Files Application with Ontario Superior Court of Justice

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2008) - Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western") today announced that, further to its press release dated October 29, 2008, it has commenced a legal proceeding against Tinpo Holdings Industrial Company Limited ("Tinpo") and others in connection with the failure of Tinpo to perform its obligations under the Support Agreement dated July 15, 2008 and associated Tinpo offer (the "Offer") to acquire all of the common shares of Western (the "Shares") for cash consideration of $1.34 per Share. The Offer was withdrawn by Tinpo on September 30, 2008.

Western has filed a Notice of Application with the Ontario Superior Court of Justice seeking certain remedies from Tinpo, 0829984 B.C. Ltd. (a wholly-owned subsidiary of Tinpo), Yunfei Chen, Howard Balloch and The Balloch Group in connection with the withdrawal of the Offer. Western will provide its shareholders with additional information as it becomes available.

Note Regarding Forward-Looking Statements

This press release and other written or oral communication from the Company may include certain statements that may be considered "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Statements other than historical facts that address possible future events, plans or developments are forward-looking statements. Such statements may be identified by the use of words such as "will", "may", "expects", "estimate", "intend" or the use of the future or conditional tense. Certain material factors or assumptions were applied in drawing our conclusions and making those forward-looking statements. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. Readers are cautioned that risks may change or new risks may emerge. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com and available on the Company's website at www.westernprospector.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law.

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

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