Western Prospector Group Ltd.

Western Prospector Group Ltd.

July 03, 2009 09:26 ET

Western Prospector Group Ltd. Announces Changes to Board of Directors and Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2009) - Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western Prospector") today announced that Messrs. Eric Bohren, Charles Pullin, Felix Pardo and Thomas Parker have resigned as directors of Western Prospector effective June 29, 2009. Western Prospector is pleased to announce that on July 2, 2009 Mr. Hongchao Xu and Dr. Sheng Zhan were appointed to the board of directors of Western Prospector to fill certain of the vacancies on the board created by the above-mentioned resignations.

Western Prospector also announced today that Mr. Eric Bohren has resigned as Chief Executive Officer, Mr. Gerald Harper has resigned as Senior Vice President - Mongolia effective June 29, 2009 and Mr. Charles Pullin has resigned as Corporate Secretary effective July 2 2009. Western Prospector is pleased to announce that effective July 2, 2009 Mr. Hongchao Xu was appointed Chairman and Chief Executive Officer, Dr. Sheng Zhan was appointed Executive Vice President and Mr. Xiang Wang was appointed Vice President and Secretary.

Mr. Hongchao Xu is the Executive Vice President, Executive Director of CNNC International Limited. Mr. Xu currently serves as the director of the Investment Division of the Assets Management Department of China National Nuclear Corporation ("CNNC"). Mr. Xu joined CNNC in 1993 and had served as the accountant of the finance department of CNNC, the deputy director of the Assets Management Division of the Investments Operations Department of CNNC and the director of the Overall Management Division of the Policy Research and System Reform Department of CNNC. Mr. Xu is a director of Sanmen Nuclear Power Co., Ltd. and a director of SUFA Technology Industrial Co., Ltd. CNNC, a company listed on the Shenzhen Stock Exchange. Mr. Xu has approximately 15 years of experience in the areas of project investment, assets management and securities investment. Mr. Xu graduated from Hengyang Engineering School in 1993 with a bachelor degree in industrial management engineering. He also holds a master degree in business administration from the Tsinghua University. Mr. Xu is also qualified as a senior accountant.

Dr. Sheng Zhan is the Project Manager for China Uranium Corporation, CNNC. Dr. Sheng Zhan graduated from Peking University & Universite d'Orleans in 2007 with a doctorate in geology. He also holds a bachelor of science degree in geology from Peking University.

Mr. Xiang Wang is the Project Manager of Investment and Development for China Uranium Corporation. Prior to joining China Uranium Corporation, Mr. Xiang Wang held the positions of Senior Manager of Corporate Finance Department at Coastal International Holdings Co., Ltd. and Project Manager of Investment Banking Department at Zhongcheng Luomai Science-Technology Group Co., Ltd. Mr. Xiang Wang graduated from Concordia University, Montreal, Canada in 2005 with a master degree in mechanical engineering. He also holds a bachelor degree in thermal engineering from Tsinghua University.

Note Regarding Forward-Looking Statements

This press release and other written or oral communication from Western Prospector 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 Western Prospector. Although Western Prospector 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 Western Prospector's website at www.westernprospector.com. Western Prospector undertakes no obligation to update this forward-looking information except as required by applicable law.

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

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