Western Uranium Corporation

Western Uranium Corporation

December 22, 2010 13:08 ET

Western Uranium Appoints Edward Flood as President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2010) - Western Uranium Corporation (TSX VENTURE:WUC) ("WUC" or the "Company") is pleased to announce the appointment of R. Edward Flood as Chairman, President and Chief Executive Officer, effective December 31, 2010.

Ed Flood, previously Chairman of Western Uranium, has over 35 years of experience in international mining and was previously the Deputy Chairman of Ivanhoe Mines Ltd. and its founding President. Prior to joining Ivanhoe, Ed was a principal at Robertson Stephens & Co., an investment bank in San Francisco where he was a member of the investment team for the Contrarian Fund, a public mutual fund focused on natural resource development projects around the world. He holds both a bachelors and masters degree in Geology. He is Chairman of Western Lithium USA Corp. and Byron Capital Markets and was Managing Director, Investment Banking, Haywood Securities (UK) Ltd. from 2007 to March 2010.

Pamela Klessig will resign as President and CEO of Western Uranium effective December 31, 2010. She will remain a director and will enter into a consulting agreement with the Company.

Colin Macdonald has resigned as a Director of Western Uranium. Colin is Vice President of Exploration at Cameco Corporation and has resigned as a Director of Western Uranium as a result of the previously announced conclusion of Western Uranium's Strategic Alliance with Cameco, related to the exploration and development of uranium properties.

Kevin Hisko, Partner at the Company's counsel McCullough O'Conner Irwin LLP, has been appointed Corporate Secretary of Western Uranium effective December 31, 2010. Eileen Au has resigned as Corporate Secretary of the Company, also effective as of December 31, 2010. 

"These management and board changes reflect the shift in the Company's strategy from its roots as a uranium explorer to a diversified commodities approach," said Ed Flood. "We intend to focus more fully on growth through acquisitions and mergers, investments, and exploration globally, continuing the strategic shift that was started under the leadership of Pam Klessig."

"The board and I would like to thank the resigning board and management members for their contributions to the development of the company," continued Flood. "I would particularly like to thank Pamela Klessig, Western Uranium's founding President, for her contribution in bringing the Company to its current stage of development." 

In connection with his appointment, Ed Flood has been granted incentive stock options of the Company for the purchase of up to 1,000,000 common shares of the Company, at a price of $0.95 per share, for a five year period.

About the Company

Western Uranium Corporation is a mineral exploration company with properties in Argentina, Nevada, and New Mexico and an earn-in agreement with AuEx Ventures for the Baza gold-copper project in Spain. The Company has its head office in Vancouver, Canada; its executive management team is based in Reno, Nevada.

On behalf of the Board of
Western Uranium Corporation

"R. Edward Flood"

R. Edward Flood

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such 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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