| February 12, 2010 Western Standard Private Placement | |
| Vancouver - Friday, February 12, 2010 - Western Standard Metals Ltd. - WSM: TSX.V ("Western Standard" or the "Company"), wishes to announce that further to a news release dated January 25, 2010, that it had negotiated a non-brokered private placement of 14,000,000 Units at a price of $0.25 for total gross proceeds of $3,500,000, the private placement has now increased to 16,000,000 Units for total gross proceeds of $4,000,000. Each Unit will consist of one common share and one share purchase warrant exercisable into an additional common share at a price of $0.30 for a two year period. The proceeds will be used for exploration expenditures on the Company's projects and for general working capital. A commission or finder's fee may be paid with respect to all or part of this placement. The terms of the private placement are subject to acceptance by the TSX Venture Exchange. About Western Standard Metals Ltd. Western Standard Metals Ltd. is a newly re-organized Canadian based company with a focus on acquisition, exploration and development of gold properties in North America. Western Standard recently acquired a 100% interest in the Almaden Gold Project in Idaho, United States, which hosts a NI43-101 compliant measured resource of 239,000 ounces of gold (9,810,000 tonnes grading 0.754 g/t), an indicated resource of 625,000 ounces of gold (29,250,000 tonnes grading 0.651 g/t), and an inferred resource of 84,000 ounces of gold (4,780,000 tonnes grading 0.549 g/t), at the cut-off grades of 0.274 g/t, 0.411 g/t, and 0.789 g/t grams per tonne for the oxide, mixed, and sulfide mineralization, respectively. The Company recently announced option agreements to earn a 50% interest in the Golden Summit project, located 8 kilometres north of the Fort Knox gold mine in the Fairbanks Mining District, and the Vinasale project, located 26 kilometres south of McGrath, Alaska. WESTERN STANDARD METALS LTD. s/"Tanuja de Silva Skerlec, CFO 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 NEWS RELEASE. | |
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