Western Uranium Corporation

Western Uranium Corporation

March 31, 2009 18:43 ET

Western Uranium Announces Results of AGM Matters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) - Western Uranium Corporation (the "Company") (TSX VENTURE:WUC) announced today that the Company's shareholders approved all matters put to shareholders at the Company's Annual General Meeting held on March 30, 2009 (the "Meeting"). The Company's directors for the next year will be Edward Flood (Chair), Pamela Klessig (Chief Executive Officer), John Proust, Debra Struhsacker and Harry Dobson.

In addition, disinterested shareholders of the Company approved a new stock option plan at the Meeting. The new stock option plan allows for the issuance of up to 10% of the Company's issued and outstanding common shares at any given time. The new Stock Option Plan will provide an incentive to the directors, officers, employees and consultants to continue their involvement with the Company and to increase their efforts on the Company's behalf by allowing the Company to grant options to directors, officers, employees and consultants as additional compensation and as an opportunity to participate in the growth of the Company.

Further to the Company's news release dated December 15, 2008, the shareholders of the Company approved and ratified the shareholders rights plan (the "Rights Plan"). The Rights Plan is contained in an agreement between the Company and Computershare Investor Services Inc. dated December 15, 2008. The Rights Plan has been designed to protect shareholders of the Company from unfair, abusive or coercive take-over strategies, including the acquisition of control of the Company by a bidder in a transaction or series of transactions that does not treat all shareholders equally or fairly or provide all shareholders an equal opportunity to share in the premium paid on an acquisition of control. The Rights Plan provides management and the board of directors with more than the 35 day statutory minimum period under Canadian securities laws to review the terms of a take-over bid and solicit alternative offers. The Rights Plan is not intended to prevent a take-over or deter fair offers for securities of the Company. Rather, it is designed to encourage anyone seeking to acquire control of the Company to make an offer that represents fair value to all holders of common shares.

On behalf of the Board of Western Uranium Corporation

Pamela J. Klessig, President & CEO

Western Uranium Corporation is a mineral exploration company with a focus on uranium. The Company has exploration properties in Kings Valley, Nevada, Treeline, New Mexico and in the Thelon Basin, Nunavut and the Northwest Territories. The Company has its head office in Vancouver, Canada; and its executive management team is based in Reno, Nevada.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release.

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