| September 30, 2009 News Release | |
| Western Standard Metals Ltd. (the "Company") is pleased to announce the closing of two non-brokered private placements. The first placement was for 10,000,000 Units at a price of $0.10 for total gross proceeds of $1,000,000. Each Unit consisted of one common share and one share purchase warrant exercisable into an additional common share at a price of $0.28 until September 28, 2011. A total of 668,000 shares were issued as a finder's fee in this placement. The second placement was for 13,500,000 Units at a price of $0.13 for total gross proceeds of $1,755,000. Each Unit consisted of one common share and one share purchase warrant exercisable into an additional common share at a price of $0.28 until September 28, 2011. A total of 542,769 shares were issued as finders' fees in this placement. All shares issued under the placements are subject to a four month hold period, being January 28, 2010. The proceeds from the placement will be used for the acquisition of a 100% interest in the Almaden Gold Project in western Idaho and for general working capital. 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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