Western Uranium Corporation

Western Uranium Corporation

June 20, 2008 18:57 ET

Western Uranium Receives Final Order Approving Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2008) -


Western Uranium Corporation ("the "Company") (TSX VENTURE:WUC) is pleased to announce that it has received the final order from the Supreme Court of British Columbia approving the previously announced statutory plan of arrangement (the "Arrangement"). Under the Arrangement, the Company will spin out a portion of its interest in Western Lithium Canada Corporation ("Western Lithium"), it wholly owned subsidiary, to the shareholders of the Company. Western Lithium, through its wholly owned subsidiary, has entered into a mining lease and option agreement with Western Energy Development Corp., a wholly owned subsidiary of the Company, pursuant to which it was granted the exclusive right to explore for lithium bearing minerals and clay on the Company's Kings Valley property.

Completion of the Arrangement is subject to a number of conditions including the listing of the common shares of Western Lithium on the TSX Venture Exchange (the "Exchange"). In addition, Western Lithium is completing a previously announced private placement of 16,220,000 of its common shares which are being offered at a price of $0.50 per share for gross proceeds of $8,110,000. It is intended that the private placement will close immediately prior to the listing of the common shares of Western Lithium on the Exchange. Western Lithium has applied to list its common shares on the Exchange and listing is conditional upon Western Lithium fulfilling all of the listing requirements and conditions of the Exchange. The Company and Western Lithium will make further announcements to update their shareholders as to the status of the listing application and the private placement.

For further information regarding the Arrangement and the spin out, please refer to the Company's information circular which is available on SEDAR.

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.

Western Lithium Corporation is a mineral exploration and development company with a focus on lithium. The company has an exploration property in Kings Valley, Nevada through a lease option agreement with a wholly owned subsidiary of Western Uranium Corporation.

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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