First Global Achieves More Than 1 Million Users and Provides Corporate Update

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTONov. 23, 2017 /CNW/ – First Global Data (“First Global” or the “Company”) is very pleased to announce that it has exceeded 1 million users, and would like to provide the following corporate update.

Annual General Meeting:

On October 26, 2017 the Company conducted its Annual General Meeting (“AGM”). The meeting was well attended with a record number of shareholders in attendance. The Company’s Chairman and CEO, Mr. Andre Itwaru presented the Company’s corporate overview, lines of business, corporate strategy, objectives and direction.

Mr. Itwaru shared that the Company’s corporate strategy includes a three-phased approach. Firstly, the Company partners with large strategic organizations which have an embedded customer base. Secondly, it works with its strategic partners to penetrate that embedded customer base by encouraging them to download the mobile app/register. Thirdly, the Company works with its partners to encourage those customers to use one or many of the services offered to drive revenues.

The Company’s current objectives include:

  1. Customer Acquisiton: by leveraging partners’ base of existing users
  2. Penetrating: 1 Million Active Users
  3. Monetizing: Drive annual revenue per user (“ARPU”) to $280
  4. Continue to increase profitability
  5. Increase customer penetration beyond 1 Million
  6. Duplicate model in each corridor and every deploy

Mr. Ken Zheng, Chief Operating Officer of one of the Company’s China based strategic partners, Lianlian Pay presented Lianlian and shared that Lianlian:

  1. Is the 4th largest mobile payment service provider in China
  2. Has a customer base of 150 million registered users
  3. Has 10,000+ online merchants
  4. Has processed in excess of US$ 80 Billion in transactions to date in 2017

Mr. Zheng demonstrated the world’s first social messaging based cross border remittance service which has been launched in partnership between Lianlian Pay and First Global on the WeChat messaging platform. Mr. Zheng also shared his views on the growth and potential of the partnership with First Global. The presentations were quite interactive and there was significant interest by shareholders with many questions and answers. Presentations are available for view at: www.firstglobaldata.com/agm

India Progress and User Base:

First Global is pleased to advise that in India, through its partnership with Vijaya Bank and the VPayqwik mobile wallet offering, the Company has achieved 972,364 users. The company is pleased with this penetration given the short timeframe services have been available in the Indian market. The Company is working with Vijaya Bank to continue increasing the number of users and to drive incremental transactions and revenues per user.

Remittances User Base, Lianlian Pay, and US Licenses:

First Global is pleased to announce that its user base for remittances services in the USA and Canada which includes the Happy Transfer service launched in cooperation with Lianlian Pay has achieved 322,024 users.

Happy Transfer is a service available in the USA on the WeChat social messaging platform. It allows a person in the USAto send money from their mobile phones to a user in China in approximately 9 seconds. The service is the first of its kind in the world. Launch of services occurs on a state-by-state basis. The Company has launched this service in 24 states, continues its launch program into the other 10 states and has been working with Lianlian Pay toward launch in Canada.

In 2017, the Company has increased its US state money transmitter licenses by 13 and continues to work toward achieving all 50 licenses. The full complement of state licenses will enable the Company to offer all of its services country wide in the USA.

AnalytixInsight:

On July 5, 2017 the Company announced that it had entered into a Letter of Intent with Analytixinsight to expand First Global’s mobile payments services across Europe and elsewhere in a revenue sharing model. AnalytixInsight will leverage its partnerships with organizations such as Samsung and Intesa Sanpaolo, to expand First Global’s mobile payments services across Europe and elsewhere as determined by the Parties in a revenue sharing model. Intesa Sanpaolo – one of Italy’s largest banks with a market cap of over €45 billion – has shared ownership in AnalytixInsight’s subsidiary Marketwall. Under the partnership, Intesa Sanpaolo will migrate approximately 8 million mobile banking users in 8,000 retail branches to Marketwall’s mobile platform across five European countries, to provide a range of mobile payment services.

The Company would like to advise that it is actively working with Analytixinsight to conclude the definitive agreement and to engage project teams toward service deployment anticipated to occur in Q1, 2018.

China Smartpay:

On September 25, 2017 First Global announced that it has entered into a Binding Memorandum of Understanding (“MOU”) with China Smartpay to deliver cross border payment solutions for Chinese vacation travelers and students studying overseas. The Company would like to advise that it is actively working with China Smartpay toward conclusion of the definitive agreement and service launch in time for Chinese New Year on or prior to February 16, 2018.

In the September 25, 2017 announcement, Mr. Xiong, the President of China Smartpay Group Holding advised that, “Chinese outbound tourism will continue to experience consistent rapid growth. In 2016 Chinese outbound tourists spent 216 billion US dollars, of which the United States accounted for 120 billion US dollars. This shows that the North American market is one of most important destinations for Chinese tourists…China Smartpay Group…is partnering with First Global Data for its leading technology, licenses, and wide payment network and capabilities in North America to carry out the North American market mobile payment business.”

“The AGM was a great success. I sincerely appreciated meeting our shareholders, sharing our vision and progress, answering their questions and listening to their perspectives and advice. I am also very pleased with the progress we have made toward increasing our customer base. We are focused on having all of our deployments around the world contribute toward achieving 1 million active users generating $280 of revenue per user per year. We are very pleased with the progress we have made with our China based partners as we deploy innovative solutions for the very large overseas Chinese demographic and shoppers. We also continue to improve our technological capabilities which includes enhancing our existing mobile wallet to encompass the acceptance of crypto currencies in a compliant and regulatory manner, and this solution will be available on a white label basis to our strategic partners. We believe that the impact of the progress we have made will be better understood toward the end of 2017 and into 2018″, said Andre Itwaru, Chairman and CEO of the Company.

About First Global

First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

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

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE First Global Data Limited

For further information: Andre Itwaru, Chief Executive Officer, t: (416) 504-3813, e: ir@firstglobaldata.com

Related Links

www.firstglobaldata.com

Money Transmitter Licenses and Canadian First Global Data in the U.S.

Almost every U.S. state requires a state license in order to transmit money into, out of or within the state. These licenses are expensive to acquire and to maintain and establish a financial barrier of entry.

Licensing requirements include the following considerations:

  • applicant’s financial condition
  • applicant’s net worth
  • amount of business for the previous year
  • anticipated business for the upcoming year

The cost of acquiring a license average more than U.S. $175,000 per state and the annual renewal fees on average are more than U.S. $135,000.

In addition to the various state requirements,  money transmitters must also register with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury. Registration is valid for two years before it needs to be renewed. Money transmitters must use the BSA E-Filing System to submit initial registration forms and renewals. There are both civil and criminal penalties for money services businesses that do not register with FinCEN.

In effect, these regulations help to validate the worthiness of the companies that acquire the money transmitter license. Given the financial investment and the corporate strength in order to acquire the licenses, companies that are granted licenses achieve a degree of credibility.

It is believed that it is more difficult for foreign companies to acquire these licenses. However, given Canada’s highly developed, regulated and structured financial industry, Canadian-based companies are afforded a strong reputation internationally.

One Canadian, publicly traded company, First Global Data Inc. (traded as v.fgd on the TMX) is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

First Global Data (www.firstglobaldata.com), according to their most recent press release, has acquired 31 money transmitter licenses. “We continue our focus on US wide licensing as the more State licenses First Global has, the larger the market opportunity for our services such as Happy Transfer launched on the WeChat social messaging platform with our China-based partner LianLian; for the Company’s First Global Money international remittances services which delivers into Latin America, India, the Philippines and other very large markets; for domestic USA peer to peer and mobile payment services; and for additional cross border payment services the Company intends to provide to consumers across the USA”, said Andre Itwaru, Chairman and CEO of First Global Data Limited.

This company is  positioned to strategically take advantage of Canada’s financial industry reputation, leveraging our access to the U.S. market and bridging it with Asian demand. With a stock price at under CDN$0.30, I’m curious to see the value of the users it has acquired through partnerships. With Canadian Schedule A banks paying thousands of dollars for credit card customer acquisitions, this company’s value might already be well beyond its stock price.

See related post: First Global Data Appoints Top Notch CFO

David Hall, CEO of Aurizon Mines interviewed on BNN at The Association for Mineral Exploration BC (Roundup) in Vancouver

January 28, 2011

Please find below a link to a BNN interview with David Hall, CEO of Aurizon Mines. The interview is seven minutes long and the focus is on NioGold’s Marban block which is part of NioGold’s 120 sq km Malartic project near Val d’Or Quebec.
http://watch.bnn.ca/#clip407827

The NioGold/Aurizon agreement is summarized below:

As of January 2010 indicated resources for the Marban block property, located in the Malartic gold camp in the Abitibi region, Quebec totaled 598,000 ounces, while inferred resources totaled 361,000 ounces. The gold resources are defined along a three-kilometre segment of the Norbenite-Marbanite fault zone, in and around the former Marban, Norlartic and Kierens gold mines, which collectively produced 600,000 ounces of gold.

Aurizon Mines Ltd. has signed an option and joint venture agreement with Niogold Mining Corp. on the Marban block property, pursuant to which:

Aurizon can earn a 50-per-cent interest in the Marban block, subject to underlying royalties, by:
Incurring expenditures of $20-million over three years, of which $5-million is a firm commitment to be spent in the first year;

Completing an updated NI 43-101-compliant mineral resource estimate;

Making a resource payment equal to the sum of $30 (or $40 if the price of gold is then above $1,560 (U.S.)) multiplied by 50 per cent of the number of total gold ounces in the measured and indicated resource categories plus $20 (or $30 if the price of gold is then above $1,560 (U.S.)) multiplied by 50 per cent of the number of total gold ounces in the inferred resource category, based on the updated resource estimate.

Aurizon can earn an additional 10-per-cent interest, for a total 60-per-cent interest, by delivering a feasibility study.

Aurizon can earn an additional 5 per cent, for a toal 65-per-cent interest, by arranging project financing for capital expenditures estimated by the feasibility study to place the project into commercial production.

NioGold will be operator during the initial earn-in period, and Aurizon will provide input on exploration programs and will become operator after the initial 50-per-cent interest has been earned.

For further information please contact:
Dale Paruk
NioGold Mining
Tel: 604-662-4505
Toll-free 1-877-642-6200
Email: dparuk@niogold.com

NioGold Completes $7.5 Million Offering

NioGold Completes $7.5 Million Offering

December 23, 2010

Vancouver, BC – NioGold Mining Corporation (TSX-V: NOX).  Further to its news releases of November 15 and December 16, 2010, NioGold is pleased to announce that it has closed its brokered private placement, led by Northern Securities Inc., for gross proceeds of $7,040,660 and a non-brokered President’s List private placement for gross proceeds of $454,740.  Due to demand, the offering was increased by $1 million over the originally planned $6.5 million.

NioGold issued a total of 6,566,843 Flow Through Common Shares at a price of $0.38 per share for gross proceeds of $2,495,400, and 15,625,000 Units at a price of $0.32 for gross proceeds of $5,000,000.  Each Unit was comprised of one common share and one-half of a warrant, each whole warrant entitling the holder to purchase a further common share at a price of $0.48 for a period of two years.

The Company paid a cash commission of $455,346 and issued 1,469,661 Agent’s Options to Northern and its selling group.  The Company also paid $5,229 and issued 13,760 Agent’s Options in payment of finder’s fees on President’s List subscriptions.  Each Agent’s Option is exercisable to acquire a Unit at a price of $0.32 per Unit.  1,370,821 of the Agent’s Options have a term of 14 months and may not be exercised in the first 6 months.  The remaining 112,600 Agent’s Options have a term of 24 months and no exercise restriction.

All securities issued are subject to a hold period expiring on April 24, 2011.  The Company will use the proceeds for property exploration and for general working capital.

NioGold Mining Corporation – « On Canada’s Golden Highway »

NioGold Mining Corporation is a mineral exploration company focused on GOLD.  The Company’s flagship projects are located in the Cadillac – Malartic – Val-d’Or stretch of the prolific Abitibi gold mining district, Quebec.  The Cadillac – Malartic – Val-d’Or area has produced over 45M ounces of gold since the 1930’s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining).  NioGold’s land holdings within the Abitibi presently cover 115 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold.  NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.  

NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources.  NioGold invites you to visit the company website at www.niogold.com

This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President & COO and Qualified Person as defined by National Instrument 43-101.  For information on NioGold Mining Corporation contact:

Michael A. Iverson, Chairman & CEO                             
miverson@niogold.com                                                
Tel: (604) 856-9887                                                       
Toll-free: (877) 642-6200

Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505

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

FOWARD-LOOKING STATEMENTS

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.

CAUTIONARY NOTE TO U.S. INVESTORS

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as ‘measured resources’, ‘indicated resources’  and  ‘inferred resources’, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20-F. The news release contains information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.

For further information please contact:
Dale Paruk
NioGold Mining
Tel: 604-662-4505
Toll-free 1-877-642-6200
Email: dparuk@niogold.com

Golden Hope Mines Limited Closes C$3.7 million Financing

TSX VENTURE: GNH PINK SHEETS: GOLHF
December 17, 2010

Golden Hope Mines Limited Closes C$3.7 million Financing
TORONTO, ONTARIO – (Marketwire – December 17, 2010) – – Golden Hope Mines Limited (“Golden Hope” or the “Company”) (TSX VENTURE:GNH)(OTCQX: GOLHF) is pleased to announce the closing of a non-brokered private placement financing of C$3,700,000.

The private placement consisted of 6,037,735 flow-through common shares (“Flow-Through Common Shares”) at a price of C$0.53 per Flow-Through Common Share and 1,250,000 units (“Units”) at a price of C$0.40 per Unit for gross proceeds of C$3,700,000 (the “Offering”). Each Unit consists of one non-flow-through common share (“Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”) entitling the holder thereof to purchase an additional Common Share at C$0.53 per Common Share for a period of up to 24 months following the closing of the Offering.

Frank Candido, President of Golden Hope Mines, states “The funds raised will be used primarily to advance exploration work at the Company’ s Bellechasse gold project, with the principal objective of developing a preliminary resource estimate during 2011. In addition, the Company will continue to develop and test drill targets along the approximate 18 kilometres of strike length between the Beland geochemical anomaly and the Bellechasse-Timmins and Laval’s Mountain gold zones. Funds will also be used to test other high priority gold and base metal targets on the Company’s claim blocks in South Eastern Quebec. ”

In connection with the private placement, the Company paid a finder’s fee of C$219,000 representing approximately 6% of the gross proceeds raised in the private placement. The Company also issued non-transferable broker warrants entitling a finder to purchase 416,037 Common Shares of the Company at an exercise price of C$0.53 per Common Share for a period of 24 months from the date of closing. In addition, Company issued non-transferable broker warrants entitling a finder to purchase 87,500 Common Shares of the Company at an exercise price of C$0.40 per Common Share for a period of 24 months from the date of closing.

Under applicable securities legislation and policies of the TSX Venture Exchange, the securities issued or issuable in the private placement are subject to a hold period expiring on April 15, 2011

This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sales of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Golden Hope Mines Limited:
Golden Hope Mines Limited is a junior exploration company focused on growing shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects. The Company’s main project consists of the Bellechasse gold belt in Southern Quebec, Canada. The property is located on a mineralized belt that is mostly owned by Golden Hope and which includes the Bellechasse-Timmins gold deposit. The Company aims to explore and develop this flagship project into a world-class gold asset in an under explored region of one of the friendliest mining jurisdictions with excellent access to low cost infrastructure. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.

Forward-Looking Information:
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this press release, other than statements of historical facts, that address future events, the size and use of proceeds of the Offering and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Factors could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the company, investors should review registered filings at www.sedar.com.

Neither the 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.

For more information, please contact

Golden Hope Mines Limited
Frank Candido
President, Director
514-750-8218
416-864-0175 (FAX)
fcandido@goldenhopemines.com or info@goldenhopemines.com
www.goldenhopemines.com
Public Relations Canada:
Paradox Public Relations
Corporate Communications
1-866-460-0408

Investor Relations USA:
American Capital Ventures
Richard Hull
305-918-7000

Timothy M. Janke Joins Strathmore’s Board of Directors

Strathmore Minerals Corp. TSX Venture: STM

November 29, 2010
Timothy M. Janke Joins Strathmore’s Board of Directors
KELOWNA, BRITISH COLUMBIA–(Marketwire – Nov. 29, 2010) – STRATHMORE MINERALS CORP. (TSX VENTURE:STM) (“Strathmore” or “the Company”) is pleased to announce that Mr. Timothy M. Janke has been appointed to the Board of Directors, effective November 23, 2010. Mr. Janke replaces Michael Halvorson, who retired earlier this year, but continues on the Company’s Executive Advisory Board.

Tim Janke has over thirty-five years experience in the uranium, coal and gold mining industry, having worked for several well known companies including: Utah International, Pathfinder, Homestake, Glamis and Goldcorp. He currently serves as Vice-President & Chief Operating Officer of Renaissance Gold, a newly created spin-off gold exploration company out of AuEx Ventures Inc., which was recently acquired by Fronteer Gold Inc. His uranium experience includes senior/chief engineering positions in Wyoming at the Gas Hills and Green Mountain operations with Pathfinder, in addition to Homestake in Colorado. Mr. Janke has extensive mining operations experience, having managed six producing gold mines for four different companies in the US, Canada, and Australia. On the corporate level, he administered Homestake’s Mergers and Acquisitions program in Canada. A graduate of the University of Nevada with a BSc. (1974) in Mining Engineering, Mr. Janke is also a past Director of the Nevada Mining Association.

Strathmore’s CEO, David Miller commented, “We at Strathmore are delighted that Tim has agreed to join the Company’s Board. His extensive experience and expertise in mining operations, in addition to his knowledge of the Gas Hills Uranium District, where Strathmore is advancing one of its two core uranium development projects toward production, will be invaluable as the Company continues the transition from permitting and development to becoming a future leading uranium producer in the United States. We all look forward to working closely with Tim in the months ahead.”

As part of his appointment to the Board, the Company has granted Mr. Janke 150,000 incentive stock options exercisable at $1.30 per share for a period of five years.

Strathmore’s Board of Directors and Executive Advisory Board now include:

Board of Directors:
—————————————————————————-
David Miller, CEO
Steven Khan, President
Dr. Dieter Krewedl
Ralph Goehring
Timothy Janke

Executive Advisory Board:
—————————————————————————-
Michael Halvorson
Dr. Hans von Michaelis

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of advanced uranium properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the Company also has a U.S. based Development Office in Riverton, Wyoming and a Government, Regulatory & Environmental Affairs Office in Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol “STM”.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

David Miller, CEO

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.

CONTACT INFORMATION:
Strathmore Minerals Corp.
Craig Christy
Investor Relations
1-800-647-3303
info@strathmoreminerals.com
www.strathmoreminerals.com

WESTERN COPPER ANNOUNCES SIGNIFICANT RESOURCE INCREASE AT CASINO

November 1, 2010 – News Release 13

WESTERN COPPER ANNOUNCES SIGNIFICANT RESOURCE INCREASE AT CASINO

Near-surface Supergene Sulphide Zone increased 90% to 252 Million Tonnes (M+I) (1)
Measured & Indicated Supergene + Hypogene mineralization at 1.06 Billion Tonnes (1)
Inferred Supergene + Hypogene mineralization increased 6 times to 1.70 Billion Tonnes (1)

VANCOUVER, B.C. – Western Copper Corporation (“Western Copper” or the “Company”) (TSX:WRN) is pleased to announce an updated resource estimate for its wholly-owned Casino Gold-Copper-Molybdenum Project in the Yukon Territory.

This new resource estimate is the first estimate to include the 26,000 metres of drilling performed by Western Copper over the past 3 years, and represents a significant update to the 2008 resource estimate.  In addition to the inclusion of new drilling, this estimate incorporates a re-interpretation of the geology of the deposit, which included the re-logging of 90,000 metres of core under the direction of Jack McClintock, Consulting Geologist for Western Copper.

The goal of the drilling campaign, to increase the near-surface supergene sulphide zone, was achieved.  The size of this zone has increased from 133 million tonnes to 252 million tonnes at the measured and indicated level – an increase of 90% (see Table 1).

To view Table 1, Supergene Sulphide Zone Measured & Indicated Resource Supergene Sulphide Zone (2010 Estimate) (1)
Click here: http://media3.marketwire.com/docs/WRN_NR13_Tab01.pdf

The additional drilling now brings the drill spacing to 100 metres throughout the majority of the deposit delineating indicated class mineralization and 50 metres through the heart of the deposit to delineate measured class mineralization.  This additional drilling combined with the re-interpretation of the geology and a more current geostatistical treatment results in 1.06 billion tonnes of combined supergene oxide, supergene sulphide, and hypogene mineralization at the measured and indicated level at a 0.25% CuEq cut-off (see Table 3).

The largest increase to the resource comes at the inferred level of categorization.  The combined supergene oxide, supergene sulphide, and hypogene inferred resource at a 0.25% CuEq cutoff has been increased over 6 times to 1.70 billion tonnes (see Table 2).  These results have added 7.4 million ounces of gold, 4.4 billion pounds of copper, and 615 million pounds of molybdenum to the resource at the inferred level.

“This resource upgrade to the Casino Project, one of the world’s largest open-pittable gold, copper, and molybdenum deposits, is remarkable.” said Dale Corman, Chairman & CEO. “This new resource will be included in a revised pre-feasibility study scheduled for completion in early 2011 where we expect the large increase in supergene mineralization to result in higher grades over the initial operation of the mine, lower strip ratios, and thus much better economics.”

To view Table 2, Inferred Resource of combined Supergene Oxide, Supergene Sulphide, and Hypogene Zones at 0.25% CuEq Cut-off
Click here: http://media3.marketwire.com/docs/WRN_NR13_Tab02.pdf

To view Table 3, Casino Resource by Zone
Click here: http://media3.marketwire.com/docs/wc111.pdf

ABOUT WESTERN COPPER CORPORATION
Western Copper is a Vancouver based exploration and development company with significant copper, gold and molybdenum resources and reserves. The Company has 100% ownership of four Canadian properties. The two most advanced projects are the Carmacks Copper Project and the Casino Project both located in the Yukon. The Casino Project is one of the world’s largest open-pittable copper, gold and molybdenum deposits. For more information, visit www.westerncoppercorp.com

On behalf of the board,

“Dale Corman”
F. Dale Corman
Chairman & CEO

For more information please contact Paul West-Sells, President & COO or Julie Kim, Manager Investor Relations & Corporate Communications, at 604.684.9497 or email info@westerncoppercorp.com

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). The forward-looking information contained in this news release is made as of the date of this news release.  Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements regarding the updated mineral resource estimate for the Company’s Casino project and the expected results and timing of an updated pre-feasibility study on the project, and are based on a number of assumptions, including the key assumptions and parameters on which the mineral resources estimates are based as set out in this news release and the technical report for the project, that the current price of and demand for gold, copper and molybdenum will be sustained or will improve, the supply of gold, copper and molybdenum will remain stable and that the general business and economic conditions will not change in a material adverse manner.  However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results and expected timing to be materially different from those expressed or implied by the forward-looking information. Such factors include, among others, the risk that mineral resources are not as estimated. that the assumptions underlying such estimates, including commodity prices prove to be incorrect, that the Canadian dollar will strengthen against the U.S. dollar, that changes in project parameters as plans continue to be refined may result in increased costs, of unexpected variations in mineral resources, grade or expected recovery rates, unanticipated delays in obtaining governmental approvals or financing and other risks generally associated with development of mining projects as well as those factors and other risks more fully described in the Company’s Annual Information Form filed on www.sedar.com and in the [Company’s Annual Report on Form 40-F] filed with the United States Securities and Exchange Commission, on Edgar at www.sec.gov/. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.