| December 31, 2009 News Release | |
| Western Standard Metals Ltd. (the "Company") wishes to announce that it has arranged for loans to raise a total of $650,000.00 by way of three loan agreements. One of the lenders is an Insider of the Company. The Company will repay the loans by May 15, 2010 and the interest rate is set at the rate of the London Interbank Offered Rate (LIBOR) plus 1% interest per annum. The three lenders would receive the permitted bonus, being 500,000 shares to be issued as a bonus for granting the loan. This transaction is subject to acceptance by the TSX Venture Exchange. ON BEHALF OF THE BOARD OF DIRECTORS WESTERN STANDARD METALS LTD. Tanuja de Silva Director, CFO & Corporate Secretary 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. Certain information presented in this release may constitute "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. | |
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