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Western Prospector: Gold, Uran und vieles mehr! - 500 Beiträge pro Seite

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- Uran in der Mongolei
- Gold in Kanada

Empfohlen durch:

1. Sprott
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3. National Bank Financial

Noch Fragen?
Western Prospector's mine-finding management team is focused on the Saddle Hills Uranium Project. Located in north-eastern Mongolia, in a region of established infrastructure, the 1,900 square kilometre Saddle Hills Uranium Project is unique in that one of its uranium deposits, the Gurvanbulag, was previously readied for production. In addition to a mine development program at Gurvanbulag, an exploration program is being directed toward the expansion of known open-ended uranium deposits and the drilling of targets which hold potential for additional uranium deposit discovery
- Fertige Mine
- Produktion 2009 Target
- 40 Mio. lbs. bestätigt
- 100 Mio lbs. historisch belegt
Antwort auf Beitrag Nr.: 26.892.660 von Panem am 13.01.07 19:08:19... bei 10 Mio. € Marktkapitalisierung ?!

Na gut !

Gruß, Praesens
Antwort auf Beitrag Nr.: 27.280.985 von praesens am 29.01.07 20:19:30... hab´ hier was verwechselt ... war in Gedanken wohl bei Aldershot ...
Antwort auf Beitrag Nr.: 27.286.149 von praesens am 30.01.07 01:02:09In Gedanken bei Aldershot zu sein, kann nicht schaden.
Mongolei - hochinteressant
wie ist die bewertung verglichen mit forsys?
hat Art sich über WP geäußert?
Antwort auf Beitrag Nr.: 27.445.247 von runn64 am 05.02.07 16:11:27Kann ich Dir nicht sagen.

Art untersucht gerade Silber.

WP ist jedenfalls mit um 1 Dollar je Pfund Uran bewertet.
Vom 6. März:

Tue Mar 6, 2007
Major Shareholder Of Western Prospector Commences Action Against Maximum Ventures Inc.


Vancouver, Canada: Anchorage Capital Master Offshore Ltd. ("Anchorage"), a major shareholder of Western Prospector Group Ltd. ("Western Prospector"), has commenced an action against Maximum Ventures Inc. ("Maximum") in the Supreme Court of British Columbia. Anchorage's action against Maximum is being brought under the allegations of Maximum's failure to disclose under the securities legislation and breaches of the Competition Act.

Anchorage's claims under these allegations against Maximum are in the amount of $4,683,012.50 for general damages and $4,500,000 for punitive damages, together with costs and interest in connection with these claims.

A copy of Anchorage's Statement of Claim filed with the Supreme Court of British Columbia will be available for viewing on Western Prospector's website:

In the news release of March 3, 2006, the Company advised that a lawsuit naming Western Prospector as a defendant has been commenced in the Supreme Court of British Columbia, in which the plaintiff, Maximum Ventures Inc., is seeking, among other things, a declaration that Western Prospector holds certain of its material Mongolian properties, including a portion of the Saddle Hills Uranium interests, in trust for Maximum. Western Prospector is of the view that Maximum's allegations against Western Prospector are without foundation or merit and, as noted in previous releases, Western Prospector will vigorously defend the action and take all appropriate steps to protect Western Prospector's interests.
Tue May 8, 2007
Western Begins Classifying Gurvanbulag Uranium Resources Moving To Economic Assessment And Increasing Resource Base; Conference Call


Western Prospector Group Ltd. ("Western") is pleased to report that SRK Consulting (Canada) Inc. ("SRK") has provided an independent classified uranium resource estimate for the Gurvanbulag Central uranium deposit located within Western's Saddle Hills project in Mongolia. This classified resource estimate will form the basis for a preliminary economic assessment to be prepared by Micon International Limited of Toronto ("Micon"). The SRK report will also support initiation of mine planning and a work program to increase the resource potential at the Gurvanbulag deposit.


Historical: The Gurvanbulag Central deposit, one of a number of uranium deposits within the Saddle Hills project in Mongolia, was previously reported to host a historic Russian C1 resource of approximately 4.2 million tonnes grading 0.25% U308 containing 22.7 million pounds U308 and an additional C2 resource of 6.4 million tonnes grading 0.14% U308 containing 9.8 million pounds U308. Additional uranium deposits within Western's Saddle Hills holdings contained a combined reported historic C2 resources of 7,505,000 tonnes grading 0.14% U308 containing 23 million pounds U308. Based on this information, a total reported historic inventory of approximately 56 million pounds uranium was previously reported within Western's Saddle Hills holdings.

Western's Exploration Program: Following property acquisition and geophysical surveys in 2004, Western focused on exploration of the Gurvanbulag deposit in 2005 and 2006. Over 100 diamond drill holes were directed to resource verification in order to provide the basis for an independent classified resource in accordance with Canadian Securities Administrators National Instrument 43-101 ("NI 43-101") guidelines. In the later part of 2006, flooded underground workings were de-watered, allowing for underground sampling to be initiated. Completion of this continued underground exploration program during 2007 will lead to an up-dated resource estimate later in the year. Elsewhere in the Saddle Hills project, additional uranium deposits saw preliminary verification drilling by Western in 2006.

Resources Up-date: Western contracted SRK to model the Gurvanbulag Central deposit and provide a NI 43-101 compliant preliminary resource report. Utilizing a 0.07% U308 cut-off grade, SRK confirmed an indicated resource of 2.83 million tonnes grading 0.22% U308 containing 13.6 million pounds U308 and an additional inferred resource of 2.67 million tonnes grading 0.15% U308 containing 8.6 million pounds. When comparing the SRK classified resource blocks to the outlines of the Russian historic blocks, the classified block grades mirror the historic grades; however, parameters used by SRK did not permit projections of mineralized drill hole intersections over as great a distance as used by the Russians. Accordingly, additional resource verification "fill-in" drilling will be required during the months ahead. The current SRK resource model will now be used for the purposes of scoping a mine production plan and a preliminary economic study of the Gurvanbulag deposit.

Western's Work Plan: In order to facilitate the next resource estimate, Western's 2007 work plan is designed to add additional pounds of uranium to the Gurvanbulag resource base through further verification drilling, underground channel sampling and gamma logging of over 300 recently recognized underground Russian drill holes. NI 43-101 compliant resource estimates are now being initiated on the additional deposits within the Saddle Hills project. With the objective of advancing production visibility, Western has commenced infrastructure projects, including construction of a powerline and access road up-grading.


SRK work: SRK were retained by Western to conduct a Mineral Resource Estimate of the Gurvanbulag Central uranium deposit, following the guidelines of the Canadian Securities Administrators National Instrument 43-101. This work involved a site visit in 2006, data validation, construction of a geological resource model, estimation and classification of the resources according to the guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum Resources (CIM).

SRK model: SRK's Gurvanbulag Central geological model consists of two strata-bound mineralized horizons separated by a barren horizon, varying in thickness from 0.5 metres to 5 metres that does not contain significant uranium grades. The upper (hanging wall) horizon and lower (footwall) horizon each with a 15 degree easterly dip, range in thickness from less than 0.5 metres to 10 metres.

Modeling of the Gurvanbulag Central deposit utilized a 0.07% U308 uranium cut-off grade and a minimum true width of 1.5 metres. The model measures approximately 2.0 kilometres along strike and 1.5 kilometres down-dip and is centered over the historic underground workings. The Gurvanbulag Central deposit model was constructed from 1598 drill holes, of which 692 holes were drilled from underground. The areal extent of the classified resources covers all of the original historic Russian C1 resources as well as a portion of the historic C2 resources.

SRK resource classification: SRK has classified a portion of the Gurvanbulag mineral inventory based on a 0.07% U308 cut-off over a minimum thickness of 1.5 metres along with additional parameters as summarized below. The following table summarizes the SRK Classified Resource consisting of indicated and inferred mineral resources.

Tonnes %U308 Tonnes %U308 Tonnes %U308 lbs U308

Indicated 2,260,000 0.22 570,000 0.19 2,830,000 0.22 13,633,000
Inferred 1,970,000 0.15 700,000 0.13 2,670,000 0.15 8,642,000

The detailed parameters for the calculation are noted on the following pages.

As a means of determining the sensitivity to cut-off grade, SRK ran their model at various cut-off grades varying from 0.0 to 0.15% U308. A lowering of cut-off grade from 0.07% U308 to 0.03% U308 suggests that approximately 0.2 million pounds of U308 would be added to the indicated category and 3.0 million pounds would be added to the inferred category. In future resource calculations, based on long term uranium price estimates supported by an independent marketing study, a cut-off lower than 0.07% U308 will likely be used.


In addition to the Gurvanbulag deposit, the following listed uranium deposits containing historic resources are summarized below. Western has conducted verification drilling programs on these targets and is now in the process of having the historic Russian resources classified to 43-101 standards. The historic resources reported below are not to be relied upon without future verification and re-classification.

Southwest/Intermediate Historic C2 3,140,000 0.13 9,148,000
Khavor/Nemer Historic C2 2,500,000 0.13 7,150,000
Mardaigol Historic C1 52,700 0.19 218,000
Historic C2 871,000 0.14 2,680,000
Dor Historic C2 942,000 0.19 3,940,000


The drill hole database was constructed in Gemcom from Russian data, primarily by digitizing of paper plans and sections, and is supported by over 100 confirmation holes drilled by Western. The database has been subject to quality assurance checks deemed suitable by SRK for resource estimation. Statistical comparisons between the Russian data and Western data also indicate that they are suitable for resource estimation. Modeling included the following parameters and methodology:

• Assays and unsampled intervals captured with these two envelopes [upper and lower horizons] were composited to 0.5 metre lengths, to produce 12,405 composites from 102 Western and 1356 Russian drill holes. Unsampled intervals within the mineralized horizon were assigned a composite grade of 0.001% U308, and those with grades above 2.0% U308 were capped.

• Because of the undulating nature of the stratigraphic and mineralized horizons, the composites were flattened, using Gemcom's "unwrinkling" tool, into two horizontal planes (HW and FW), to facilitate interpolation. Comparisons between estimates made in real (wrinkled) space and those back-transformed from unwrinkled space, showed that they are very similar, with the exception that the estimates made in unwrinkled space are more continuous in areas where the dip of the envelopes changes significantly.

• Grade estimates were made using Ordinary Kriging, with separate runs and different parameters from the hanging wall and footwall domains.

• Density data falling within the mineralized horizons (total of 216 measurements) show a strong lithological correlation, and were used to assign a weighted average density for each horizon (HW = 2.53 g/cc, FW = 2.43 g/cc), using the logged proportion of each lithology contained by the horizon.

• The estimated resources were classified using a combination of automated and manual parameters. Estimated blocks meeting the following criteria were assigned to the Indicated Mineral Resources: (1) a minimum of 5 samples, (2) from at least 2 drill holes, (3) with a maximum average distance from samples to an estimated block of 35 metres, (4) a >50% chance of being above the cut-off grade, as defined by a kriged indicator model that used 0's and 1's on either side of a grade threshold 0.07% U308, and (5) falling within a manually digitized domain designed to contain closely spaced mineralized areas in the vicinity of the existing underground workings. All other estimated blocks were assigned to Inferred Mineral Resources.

• All resources are quoted at a cut-off grade of 0.07% U308. This grade is based on a price for U308 of US$47/lb, a long-range price estimated in late 2006 when modeling was initiated and an internal estimate of potential operating costs for underground mining. This estimate is believed to be conservative and future modeling should utilize lower cut-off grades in keeping with current long range uranium pricing forecasts.

• The qualified persons for this work are: Marek Nowak, MASc, P.Eng, a Principal Consultant at SRK Consulting in Vancouver and Chris Lee, MSc, PGeo., a past consultant of SRK. The work has been reviewed and endorsed by Daniel Guibal, Corporate Consultant (Geostatistics), SRK Perth. All of the foregoing qualified persons are independent of Western for the purposes of NI 43-101.


Western has received a report from Melis Engineering Ltd. of Saskatoon covering the 2006 metallurgical test work completed at the SGS Lakefield Research Limited laboratory. The test work included preliminary determination of grind-ability, leaching, liquid/solid separation, solvent extraction, precipitation and tailings preparation. In brief, the test work conducted on four composites grading between 0.26% U308 to 4.74% U308 resulted in an average four hour leach extraction of 97% utilizing sulphuric acid.

A bottle roll test performed on a fifth composite with a head of 0.06% U308 achieved an 89% recovery after 16 days indicating heap leaching or underground stope leaching may prove to be applicable for low grade uranium mineralization.

Initial acid base accounting test work on a composite suggest a surface mineralized stockpile would generate a near neutral pH environment with little buffering capabilities. An initial Bond Work Index on the upper horizon mineralization was measured at 23.5 kWh/tonne indicating it is a relatively hard mineralization. Test work remains to be conducted on the more altered lower horizon mineralization.

The qualified persons for this work are: Lawence Melis, P.Eng, Bruce Fielder, P.Eng. and Nicola Banton, P.Eng., all of Melis Engineering. All of the foregoing qualified persons are independent of Western for the purposes of NI 43-101.


Micon has been contracted to complete a preliminary economic assessment of the Gurvanbulag deposit based on the SRK resource model, the recent metallurgical test work results, and commodity pricing based on a marketing study.


Western has successfully verified the reported Russian work within the framework as permitted under NI 43-101 compliant parameters of defendable resource calculations. Additional verification work is recommended and will be undertaken in 2007 to increase the potential resource base at Gurvanbulag and initiate resource classification within additional deposits in the Saddle Hills project area. The 2007 work plan can be summarized as follows:

• Channel sampling of approximately 20 underground cross-cuts to provide opportunity to enhance and advance resources.

• Gamma logging of over 300 recently recognized Russian underground drill holes within the area of the underground workings.

• The underground workings, consisting of three shafts and over 17 kilometres of main haulage and lateral development, were established for production purposes. Ongoing rehabilitation will improve access for gaining metallurgical samples, engineering and geotechnical work.

• Surface-in-fill diamond drilling at 25 metre centers will be conducted in areas of presently unclassified Russian resource blocks for verification and subsequent on-going modeling and expanding and advancing the resource base.

• Classified resource estimates on all deposits within the Saddle Hills Project.

• Completion of a Preliminary Economic Assessment Report to develop a production scenario and scope project economics.

• Upgrade and re-classify the Gurvanbulag resource model utilizing the 2007 underground and surface drilling results.

• Participate in joint ventures to improve infrastructure. These include building a powerline to the project in 2007 and initiating design of an improved mine access road.

• Continue with all environmental baseline data collection, community liaison, conversion to mining licenses and initiation of investment agreement negotiation with the Mongolian government.

• Initiate an economic feasibility study based on an updated Gurvanbulag resource model and preliminary economic assessment.


A conference call will be held, Wednesday, May 9, at 10:00 a.m. Eastern, 7:00 a.m. Pacific. To participate in the conference call, please dial 416-646-3096 or 800-814-4853. The conference call will make reference to a power point presentation "Resource Update: May, 2007" to be found on the home page of Western Prospector's website: A replay of this conference call will be available for one week starting Wednesday, May 9, at 3:00 p.m. Eastern or 12:00 p.m. Pacific. To listen to the replay, please dial 416-640-1917 or 877-289-8525, pass code number 21232208.

"John S. Brock"

John S. Brock

For further information:
- Blaine Monaghan, Manager, Investor Relations: 604-687-4951; toll free 1-800-403-2988; email
Press Release #07-06

On Monday, May 7, 2007 Western Prospector Group Ltd. ("Western") was
scheduled to bring its application (under Rule 18A) seeking an order
from the British Columbia Supreme Court summarily dismissing the claims
made against Western by the Plaintiff Maximum Ventures Inc.

By Notice of Motion filed with the Court on Friday, May 4, 2007 and
delivered later that afternoon to Western, Maximum gave notice of a
number of Court applications sought by Maximum, including its
application requesting a Court ordered adjournment of Western's Rule
18A application, pending the outcome of Maximum's additional procedural
applications to the Court.

Those procedural applications include: requiring production of
documents from Western and other parties over which solicitor-client
privilege and common interest privilege had been asserted, requiring
responses to questions from the examination for discovery of John Brock
not answered on the basis of solicitor-client privilege and restraining
Western's counsel from acting as counsel in the lawsuit.

On May 7, 2007, the parties appeared in Court and consented to an Order
of the Court adjourning Western's Rule 18A application generally and
scheduling Maximum's initial procedural applications for hearing on
Tuesday, June 12, 2007.

The trial date, set to proceed beginning November 5, 2007, remains
fixed with related examinations for discovery of all parties scheduled
for the period June 21 through June 29, 2007.

"John S. Brock"

John S. Brock

For further information:
. Blaine Monaghan, Manager, Investor Relations: 604-687-4951;
toll free 1-800-403-2988; email

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
$30.1 Million "Bought Deal" Financing

Press Release #07-07

Western Prospector Group Ltd. (the "Company") has entered into an
agreement with National Bank Financial Inc. and a syndicate of
underwriters (the "Agents") for a private placement offering on a
"bought deal" basis of 7,000,000 common shares priced at $4.30 per
share for gross proceeds of $30,100,000.

National Bank Financial Inc., as lead underwriter, will have the option
to increase the offering by up to 1,050,000 shares. Closing of the
offering is expected to occur on or about June 14, 2007. All
securities issued will be subject to a mandatory four-month hold period
from the date of closing. The Agents will receive a cash commission
equal to 6.0% of the gross proceeds of the Offering. In addition, the
Company has agreed to issue the Agents at closing, broker warrants
entitling the Agents, for a period of 12 months from the closing date,
to acquire that number of Common Shares of the Company that is equal to
5% of the number of Common Shares sold under the Offering, at a price
of $4.61 per share.

Completion of the private placement will bring the Company's current
working capital position to approximately $40 million. The Company has
no debt.

The Company will use the proceeds of the offering to execute its 2007
work plan and to continue to advance the Saddle Hills Uranium Project
toward a bankable feasibility study in 2008 and for general working

Focused on the Saddle Hills Uranium Project, the Company is an
advanced-stage uranium exploration company. Located in Mongolia, in a
region of established infrastructure, the Saddle Hills Uranium project
is unique in that one of its uranium deposits, the Gurvanbulag, was
previously readied for production. Opportunity exists for further
discovery with additional uranium targets identified by the past
drilling data and a recently completed airborne radiometric survey.

John S. Brock
President and CEO

For further information, contact Blaine Monaghan, Manager, Investor
Relations at 604-687-4951 or toll free 1-800-403-2988, or email

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This news
release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "US Securities Act") or any
state securities laws and may not be offered or sold within the United
States or to US Persons unless registered under the US Securities Act
and applicable state securities laws or an exemption from such
registration is available.

The statements contained in this release that are not historical facts
are forward-looking statements, which involve risks and uncertainties
that could cause actual results to differ materially from targeted
results. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The Company relies upon litigation
protection for forward looking statements.

In the news release of March 3, 2006, the Company advised that a
lawsuit naming Western Prospector as a defendant has been commenced in
the Supreme Court of British Columbia, in which the plaintiff, Maximum
Ventures, Inc., is seeking, among other things, a declaration that
Western Prospector holds certain of its material Mongolian properties,
including a portion of the Saddle Hills Uranium interests, in trust for
Maximum. Western is of the view that Maximum's allegations against the
Company are without foundation or merit and, as previously noted, the
Company will vigorously defend the action and take all appropriate
steps to protect the Company's interests. In this regard a trial date
has been set for November 5, 2007. Additional information on this
issue is available at the Company's website at

Copyright (c) 2007 WESTERN PROSPECTOR GROUP LTD. (TSXV-WNP) All rights
reserved. For more information visit our website at or send
Re: News Release - Tuesday, June 12, 2007
Annual General Meeting, New Board Members

Press Release #07-08

Western Prospector Group Ltd. (the "Company") wishes to announce that
at its Annual General Meeting held yesterday, the board of directors
was strengthened with the addition of four new independent directors.

The new directors will join existing members Ken deGraaf, Eric Bohren,
and John S. Brock on the Company's board of directors.

The new board members and their backgrounds are described below:

. Bobby E. Cooper: CEO of Platinum Diversified Mining Inc. He
formerly served as President and CEO of Kennecott Corporation, a
major North American mining company with gold, silver, copper, zinc,
coal and diamond properties;

. Thomas H. Parker: President and CEO of Gold Crest Mines, Inc. He
was formerly the President and CEO of High Plains Uranium, Inc., and
an Executive Vice President of Anderson & Schwab, Inc., a New York
based mining consulting firm;

. Felix Pardo: a Trustee of Newalta Income Fund and a Director of
Newalta Corporation. He was formerly Chairman and CEO of
Dyckerhoff Inc., a US cement producer, and President and CEO of
Ruhr American Corporation, a coal producer;

. Charlie Pullin: Vice President and CFO of Viskase Companies, Inc.
He holds an MBA and CPA.

John S. Brock will continue to serve as the Company's President and CEO
and Wayne J. Roberts will continue to serve as the Company's Senior
Vice President. Along with existing management, new board members,
with strong backgrounds in development and operation of mining projects
as well as the uranium industry, will strengthen the Company's ability
to further advance the Saddle Hills Uranium Project to a production
decision in 2008.

The Company extends its thanks to Messrs. R. E. Gordon Davis, C.
Douglas Proctor, Davis R. Reid and Wayne J. Roberts for their past
contribution as directors during the exploration phase, and looks
forward to the continuing development of the business plan under the
stewardship of the new board.


"John S. Brock"

John S. Brock
President and CEO

For further information:
. Blaine Monaghan, Manager, Investor Relations: 604-687-4951; toll
free 1-800-403-2988; email

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.


In the news release of March 3, 2006, the Company advised that a
lawsuit naming it as a defendant has been commenced in the Supreme
Court of British Columbia, in which the plaintiff, Maximum Ventures,
Inc., is seeking, among other things, a declaration that the Company
holds certain of its material Mongolian properties, including a portion
of the Saddle Hills Uranium interests, in trust for Maximum. The
Company is of the view that Maximum's allegations against it are
without foundation or merit and, as previously noted, will vigorously
defend the action and take all appropriate steps to protect its
interests. In this regard a trial date has been set for November 5,
2007. Additional information on this issue is available at the
Company's website at

Forward-Looking Information:

This release includes certain statements that may be considered
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking
statements. Such statements are identified in this release by the use
of words such as "will" and "expects" as well as the use of the future
or conditional tense. Forward-looking statements in this document
include statements regarding future production, reserve or resource
potential, and future exploration and development plans (including the
Company's 2007 Work Plan). Although the Company believes the
expectations expressed in such forward-looking 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 forward-looking statements. Factors that could cause
actual results to differ materially from those in forward looking
statements 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. These
statements are based on a number of assumptions, including assumptions
regarding general business and economic transactions and exploration
and development programs on reasonable terms, the ability of
third-party services providers to deliver services in a timely manner,
and the reliability of information provided to the Company by third
parties. The Company does not assume any obligation to update or revise
its forward-looking statements, whether as a result of new information,
future events or otherwise.
Re: News Release - Tuesday, June 19, 2007
Western Prospector Closes $34.6 Million "Bought Deal" Financing


Vancouver, Canada: Western Prospector Group Ltd. (the "Company") is
pleased to announce that it completed a private placement of 8,050,000
Common Shares priced at $4.30 per share for gross proceeds of
$34,615,000 on June 18, 2007 on a "bought deal" basis.

The Company will use the net proceeds of the private placement to
execute its 2007 work plan, to continue to advance the Saddle Hills
Uranium Project in Mongolia toward a bankable feasibility study in 2008
and for general working capital.

National Bank Financial Inc., Haywood Securities Inc., Dundee
Securities Corporation and Cormark Securities Inc. (the "Underwriters")
acted as underwriters for the offering. The Underwriters received a
cash commission of 6% of the gross proceeds of the Offering and
warrants entitling the Underwriters to acquire up to 402,499 Common
Shares of the Company at a price of $4.61 per share until June 18,
2008. All securities issued are subject to a mandatory four-month hold
period expiring on October 19, 2007.

Anchorage Capital Master Offshore, Ltd. ("Anchorage"), an insider of
the Company, acquired an aggregate of 2,000,000 of the Common Shares
issued. In order to comply with OSC Rule 61-501, the Company advises
that participation in the private placement by Anchorage was not
finalized until shortly before the closing and, therefore, a material
change report was not filed 21 or more days before the closing.

"John S. Brock"

John S. Brock
President and CEO

In the news release of March 3, 2006, Western advised that a lawsuit
naming Western Prospector as a defendant has been commenced in the
Supreme Court of British Columbia, in which the plaintiff, Maximum
Ventures, Inc., is seeking, among other things, a declaration that
Western Prospector holds certain of its material Mongolian properties,
including a portion of the Saddle Hills Uranium interests, in trust for
Maximum. Western is of the view that Maximum's allegations against
Western are without foundation or merit and, as previously noted,
Western will vigorously defend the action and take all appropriate
steps to protect Western's interests. In this regard a trial date has
been set for November 5, 2007. Additional information on this issue is
available at Western's website at
Press Release #07-11


The Board of Directors' of Western Prospector Group Ltd. (the
"Company") announces the appointment of a litigation committee
comprised of independent directors and the retainer of a top-tier
litigation team from McCarthy Tétrault LLP. Davis LLP will continue as
co-counsel. Agreement between all parties to the action commenced by
Maximum Ventures Inc. ("Maximum") has resulted in the establishment of
a new trial date of February 25, 2008.

The restructured litigation committee consists of three independent
directors, Messrs. Eric Bohren, Felix Pardo and Charles Pullin. The
committee recommended strengthening the litigation team and further
development of the Company's legal strategies in conjunction with
management and litigation counsel.

In addition, the Company recently retained McCarthy Tétrault LLP, a
well recognized Canadian law firm known for its litigation expertise,
to represent the Company as one of the defendants in the action
commenced by Maximum. Messrs. Leonard T. Doust, Q.C. is a senior
litigator from McCarthy Tétrault's Vancouver office and will be lead
counsel. Mr. Doust has nearly 40 years of experience in a wide variety
of litigation, and is one of the most sought-after and respected
litigators in the country. He has appeared frequently before every
level of court in British Columbia, as well as in the Supreme Court of

Mr. Doust is a Life Bencher of the Law Society of British Columbia and
a Fellow of the American College of Trial Lawyers.

Based upon review of the litigation process and the recommendations of
legal counsel for the plaintiff and the defendants, it was agreed
between the parties that a new trial date be set for February 25, 2008.
The Company strongly believes that Maximum's claims are without merit,
and continues to declare that it will take all necessary measures to
vigorously defend itself in court next February 2008 and resolve
litigation matters as quickly as possible.

"John S. Brock"

John S. Brock
President and CEO
Press Release #07-12

Western Prospector has received notice from the Mineral and Petroleum
Resources Authority of Mongolia (the "Minerals Authority") that
Exploration License 7685X, covering part of Western Prospector's
Gurvanbulag uranium deposit at the Saddle Hills Project in Mongolia,
has been cancelled, as some prior exploration work and reserve
determination were funded by the State budget. Western Prospector
understands that in this regard, the Minerals Authority has determined
that in total, 34 minerals licenses issued to 18 legal entities may be

Western Prospector is working closely with its legal counsel in
Mongolia to assess the implications of the notice from the Minerals
Authority and the legal rights of the Company. The Company intends to
vigorously oppose this determination.

"John S. Brock"

John S. Brock
President and CEO
wie im Bilderbuch, Tradinghalt und dann, kein Wunder nach der Meldung, denke der Thread geht unter - wie entsteht ein Totalverlust? - in die Analen ein.

Press Release #07-13

On August 17, 2007, Western Prospector Group Ltd. (the "Company") reported receiving notice from the Mineral and Petroleum Resources Authority of Mongolia ("MPRAM") that Exploration License 7685X, covering the western part of the Company's Gurvanbulag uranium deposit within the Saddle Hills Project in Mongolia, had been revoked, as some prior work on this license had been funded by the Mongolian State budget.

On August 20, 2007, the Company received confirmation that Adamas Mining LLC ("Adamas") had received a similar notice from MPRAM in respect of Exploration License 3367X. The Company, by way of an agreement with Adamas, is earning a 70% interest in Adamas' Exploration License 3367X, which covers the Nemer, Mardaigol and Dor uranium deposits located within the Saddle Hills Project area.

The notices received from MPRAM indicated that a total of 34 licenses held by 18 entities are to be revoked. The licenses, held by national and international parties, cover deposits of coal, industrial minerals, base and precious metals, as well as uranium.

The Company's legal counsel in Mongolia has assessed the implications of the notices of revocation and advises that the notices received make the licenses subject to invalidation, and do not automatically revoke the licenses. The Company cannot rule out receiving additional license revocation notices from MPRAM. The Company fully intends to vigorously oppose the actions of MPRAM through appeal in the Mongolian courts.

"John S. Brock"

John S. Brock
President and CEO
Antwort auf Beitrag Nr.: 31.252.250 von Panem am 22.08.07 11:41:22heisst das, Du würdest weder Khan noch Western Prospector zu diesen Kursen anpacken?
No Risk Of "Revocation" Of Exploration Licenses In Mongolia

Press Release #07-14

Western Prospector Group Ltd. ("Western Prospector") today received a
statement issued by the Mineral Resources and Petroleum Authority of
Mongolia ("MRPAM").

Luvsanvandan Bold, Chairman of MRPAM reported that the August 14, 2007
notice of revocation was an "unlawful revision of these licenses", that
no licenses had been invalidated by him in his capacity as Chairman of
MRPAM, and that on-going investment in Mongolia was welcome.

Western Prospector reported on August 17th and August 21st, 2007, that
notices of revocation from MRPAM had been received covering a portion
of the Gurvanbulag uranium deposit and several satellite deposits
(licenses 7685X and 3367X). Gurvanbulag is one of several uranium
deposits held within Western Prospector's Saddle Hills Uranium project
in northeast Mongolia.

The statement from Chairman Luvsanvandan Bold, reprinted in its
entirety, follows.

by the
September 10, 2007

Welcoming the active and valuable inputs from different stakeholders in
the mining industry and some foreign countries' representatives in the
past few days, I would like to take this opportunity to officially
address the recent issue concerning some mineral exploration licenses.

Expressing my sincere thanks for your keen attention and interest in
mining sector's development of Mongolia let me give you the following

It is obvious that the notice of August 14, 2007 given by MRPAM
Cadastral Centre to 18 international and national companies about
invalidation of their exploration licenses has caused a serious concern
among them as well as other investors.

The notice was given following the recommendations of the State Audit
Board, which discovered that the area covered by the 34 licenses out of
more than six thousand currently effective licenses, had been explored
by state budget in the past and according to law, passed by Parliament
on July 8, 2006, the exploration licenses had to be revoked, because
they were covering mineral deposits ready for mining development.

In this connection, I would like to emphasize that if the concerned
license holders change them into exploitation or pre-exploitation or
production licenses in accordance with the Minerals Law they are most
welcome. Important is to accept the legal framework that companies can
not anymore continue possessing exploration licenses in areas where
exploration has finalized long ago and instead they are obliged to move
on to develop the deposits. They have absolutely no risk to loose their
rights, if they fulfill the legal requirements.

To let you know, so far not a single license out of the 34 has been
invalidated by me, because Mongolian Government has no hidden agenda to
take away these licenses. So let me assure you that the MRPAM is fully
committed to strictly following the Minerals Law, which protects
interests of both foreign and domestic investors. As a matter of fact
every mining operation conducted according to the law is running with
no disruption. For example, one of the largest mining projects with
foreign investment Boroo Gold has been enjoying excellent advantages
thanks to the stability agreement and has extracted in its operation
years total of 26 tons of gold (not including the 2007 production),
while paying no income taxes. I am very confident that Ivanhoe Mines'
Oyu Tolgoi Investment Agreement, which has been recently approved by
the Government, will pass the Parliament soon.

I greatly encourage the international and national companies to
continue their oil and gas exploration projects and programmes.
Petroleum exploration has become another great investment opportunity
in Mongolian resources sector. Mining policy of Mongolia as well as our
international standard licensing system will not be changed, because it
is a cornerstone of our national development and prosperity.

So finally, there is no need to worry about the unlawful revision of
these licenses. Let us cooperate and continue our business as usual.

Thank you,
Luvsanvandan Bold
Mineral Resources and Petroleum Authority of Mongolia"

In connection with applications made earlier, Western Prospector
expects that MRPAM will now expedite the conversion of some of its
exploration licenses to mining licenses.

Western Prospector continues with exploration leading to feasibility
studies at its Saddle Hills Uranium Project, and expects to release the
results of a preliminary economic assessment progress report within the
next few weeks.

"John S. Brock"

John S. Brock
President and CEO
Uranium Project-Related Cooperation With Khan

Senior management of Western Prospector Group Ltd ("Western") and Khan
Resources Ltd ("Khan") met recently in Ulaanbaatar for the purposes of
discussing government-related issues and the mutual benefits of a
closer cooperation as Western and Khan move their uranium projects
towards production decisions.

Western and Khan have commenced assessment of the potential economic
benefits of infrastructure sharing at the Saddle Hills uranium camp.
Western and Khan have jointly engaged Aker Kvaerner to provide a
preliminary evaluation of the viability of shared production
infrastructure and support facilities. Results of this study are
expected within 2 or 3 months.

Western owns 100% of the Gurvanbulag uranium deposit, and Khan has a
58% joint venture share of the Dornod uranium deposit, as well as a
100% ownership of an adjoining license area. The Gurvanbulag and Dornod
deposits are located approximately 40 kilometres from each other in the
Saddle Hills - Mardai area of the Dornod Province in northeastern

"John S. Brock"

John S. Brock

President and CEO
Press Release #07-17

VANCOUVER, BRITISH COLUMBIA (Marketwire - October 12, 2007) - Western
Prospector Group Ltd. (the "Company") (TSX VENTURE: WNP - News) today
announced its Board of Directors appointed John S. Brock as Chairman of
the Board, and named Eric Bohren to serve as President and CEO.

John S. Brock co-founded Western Prospector, raised over $80million for
its development plan, led its purchase of the Saddle Hills properties,
and has successfully directed the exploration program through to
classification of its resources. As Chairman of the Board, and
Director, Mr. Brock will continue to be actively involved advancing
Western Prospector towards a production decision in 2008. Mr. Brock is
a geologist and geophysicist with over 40 years experience in the
mining industry, and has participated in a number of mine finding
discoveries. John Brock has also served as a Governor of the former
Vancouver Stock Exchange (VSE) and the Canadian Venture Exchange

Eric Bohren has served as a Director of Western Prospector since
November 2006 and has been involved in the Company's corporate
development, litigation, and Mongolian government initiatives. Mr.
Bohren has over 15 years experience working with international public
and private companies in the areas of strategy, finance, corporate and
business development. He has participated in over 30 joint venture,
financing, and mergers and acquisitions transactions, with companies
such as Booz Allen & Hamilton, E*Trade, and ZANTAZ. Most recently, Mr.
Bohren was Senior Director of Corporate and Business Development at
ZANTAZ-Autonomy (LSE: AU), an international technology company.

Mr. Bohren received an MBA in Finance from the Wharton School of
Business, and an MA in International Studies from the Lauder Institute
at the University of Pennsylvania. He also holds a BA in Political
Science from UC Berkeley. Early in his career, Mr. Bohren worked in
Paris, France for the U.S. Department of State, and the Matra-Hachette

"Eric brings strong execution skills, international and corporate
development experience that will drive shareholder value for Western
Prospector. We thank John for his stewardship of the Company, and look
forward to his continued involvement as Chairman," said Felix Pardo, on
behalf of the Board of Directors of Western Prospector.

"Eric Bohren"

Eric Bohren
President and CEO

"John S. Brock"

John S. Brock
Chairman of the Board of Directors
Press Release #07-15

Western Prospector Group Ltd. ("Western Prospector") and its Mongolian
subsidiary Emeelt Mines LLC ("Emeelt") today announced the completion
of a Preliminary Economic Assessment Study of a production plan for its
100% owned Gurvanbulag deposit in Mongolia.

The Preliminary Economic Assessment report (the "Micon Report") was
completed by mineral industry consultants, Micon International Limited
("Micon") of Toronto, Ontario, who based their report on: an
independent resource estimate (compliant with NI 43-101) prepared by
SRK Consulting (Canada) Inc. ("SRK"), metallurgical testwork conducted
by SGS Lakefield Research Limited under the direction of Melis
Engineering Ltd., preliminary processing flowsheet developed by Melis
Engineering Ltd., and preliminary site selection of tailings storage
facilities by Golder Associates Ltd. ("Golder")

The Micon Report outlines the preliminary economics of developing an
underground mine and surface processing facility with an average
throughput of 1,500 tonnes per day to produce annually approximately
2.0 million pounds U3O8 as yellowcake over a project life of 10 years
with average operating costs of US$86.50 per tonne milled or
US$24/pound U3O8. The Micon Report states that, based on assumptions
and parameters (summarized below), the Gurvanbulag deposit cash flow
yields an after tax IRR of 35% and NPV of US$241 million, using a
discount rate of 10% per year. Micon has recommended continued
exploration at Gurvanbulag to identify further resources,
infrastructure establishment, securing construction and development
permits, on-going environmental baseline studies, and completion of a
Full Feasibility Study.

The Preliminary Economic Assessment was directed to the classified
resource portion of the central or core area of the Gurvanbulag
deposit. Additional resource potential, as indicated by unclassified
historic Russian C2 resources, will soon be drill-tested around the
periphery of the central Gurvanbulag deposit. Western Prospector
reported on May 8, 2007 that SRK outlined an indicated resource of 13.6
million pounds U3O8 and an additional inferred resource of 8.6 million
pounds U3O8 utilizing a 0.07% U3O8 cut-off based on a long-term price
of $47 per pound U3O8 and an internal estimate of potential operating
costs for underground mining. The SRK classified resources are
tabulated below.

The configuration of the mineralized zones requires the use of flexible
and selective mining methods, which can accommodate variability in
width and dip of mineralization. Stopes will initially be accessed from
existing development on the 260 m level. As mining proceeds, subsequent
intermediate access levels will be developed from the internal ramp
upward towards the 80 m level. Later in the mine life, the lower mining
horizons will be accessed from the 440 m haulage level and intermediate
access levels will be developed from the internal ramp, up to the 260 m

Given the mineralization geometry and presently known resources a mine
production rate of 1,500 t/d was selected resulting in a mine life of
approximately 10 years.

Metallurgical testwork for the Gurvanbulag project was carried out on
samples of drill core received in June, 2006. The testwork program
included grindability, leaching, liquid/solid separation, solvent
extraction, precipitation and tailings preparation.

Golder was retained by Western Prospector to provide a preliminary
assessment of potential sites for the location of a tailings management
facility (TMF) at Gurvanbulag. Western Prospector has provisionally
selected a preferred location for the tailings management facility.
This is based, principally, on the distance from the Main shaft (1.6
km) and in order for the tailings management facility and the mill to
be located within the same watershed. It has been assumed that
approximately 50% of the total tailings will be returned to the
underground mine as paste backfill.

It is proposed that a new road will be constructed to connect the
Gurvanbulag site with the town of Choibalsan. The road, approximately
117 km long, is anticipated to follow the route of the power line that
is currently under construction. The feasibility study and route design
have been completed by the civil engineering firm, Avarga Zam Co. Ltd.
of Mongolia.

Permanent power supply will be provided by a new 110-kV line from the
power station operated by Dornod Energy System LLC (DES) at Choibalsan.
The power line is now being constructed under a joint venture agreement
executed by Emeelt and XinXin Mining. XinXin, is developing its Ulaan
base metals mine 7 km to the east of the Gurvanbulag mine site. In
addition, power could be supplied to the soum communities of Bayandun,
Dashbalbar and Gurvanzagal, none of which presently is connected to the
electrical grid.

Accommodation is provided in a new facility that has been constructed
5.5 km south of the mine site. The facilities comprise a 200-person
capacity camp that was constructed in mid-2006 by Geomandal Star LLC.


Based on the mineral resources estimated by SRK, Micon has developed a
plan to mine and process an average of 1,500 t/d of mineralized
material that results in mining all of the presently estimated 5.4 Mt
of resources over a project life of about 10 years. Mining by inclined
room and pillar with backfill methods is projected to provide a mining
recovery of 93% with 5% dilution at zero grade. The proposed on-site
processing plant was based on metallurgical test results that yielded
95% recovery utilizing an acid leach system. Pre-production capital
cost was estimated at US$229 million. The cumulative operating
after-tax net cash flow, assuming a royalty payable of 5%, a tax rate
of 25% and a uranium price of US$84/lb U3O8, was US$643 million.
Discounted at 10% per year, the net present value was US$241.5 million.
The project is sensitive to uranium prices in that a 10% variance in
uranium price is expected to yield a 5% variance in the IRR (see
cautionary note).

The estimates of capital and operating costs are combined in the
discounted cash flow evaluation for which a summary of the base case is
shown in the table below. Capital and operating costs have been
estimated to a level of detail appropriate for a preliminary economic
assessment, in this case to an overall level of +/-25%. The economic
evaluation is treated on a full project basis, i.e., assuming 100%
equity financing and, for the base case, a uranium price of $185/kg
U3O8 (equivalent to $84/lb U3O8) has been assumed.

Among the factors assumed in the development of the cash flow model

- Mining recovery 93%, dilution 5% at zero grade.
- Production rate of 1,500 t/d, operating 365 days per year.
- Plant recovery 94.9%.
- Sunk costs of $81.4 M have been included in the capital write off.
- A royalty of 5% of revenue has been assumed.
- A tax rate of 25% of taxable income has been assumed.
- Analyses are in constant US dollars of mid-2007 value.

Based on these assumptions and analyses, the project cash flow yields
an IRR of 35% after tax. The NPV at a discount rate of 10%/y is $241 M.

The project cash flow is sensitive to uranium price, operating costs
and capital costs. As may be expected, the price of uranium is the most
sensitive item, followed in turn by capital and then operating costs.
The results on IRR and net present value of varying the grade of
uranium by 10% and 25% are the same as for the price of uranium.

The results of the base case discounted cash flow analysis of the
Gurvanbulag project indicate that, at an IRR of 35% after tax, the
project is robust. In common with virtually all mining developments,
the project cash flow is most sensitive to revenue, in this case, to
the price of uranium and grade of the deposit. The result of reducing
either the price of uranium or the mined grade by 25% is an IRR of 22%
which also supports the robustness of the project. The estimated grade
will be further evaluated through the planned exploration program.


Micon recommends Western Prospector/Emeelt proceed to initiate work on
a full feasibility study for the Gurvanbulag project along with
recommendations that include; continued exploration at Gurvanbulag and
in the surrounding area with the objective of increasing the identified
mineral resources and, potentially, increasing the life of a mining and
processing operation at Gurvanbulag, and compilation into an updated
estimate of mineral resources based on the results of exploration
through the second half of 2006 and 2007. It should be noted that the
results of full feasibility study of the Gurvanbulag project are likely
to differ from the results of this preliminary economic assessment.

Accordingly, Western Prospector is now focusing on adding additional
resources to the classified resource base at Gurvanbulag through a
continuing program of underground sampling, gamma logging of
underground drill holes and surface drilling, following which an
additional resource estimation will be done in preparation for
commencement of a full feasibility study. The Gurvanbulag development
schedule is estimated at 30 months from the completion of full
feasibility study to initiation of commercial production in late 2010.

Qualified Persons: Jane Spooner, M.Sc., P.Geo, of Micon International
Limited, and Mani Verma, P.Eng., and Malcolm Buck, P.Eng., both
Associate Mining Engineers with Micon International Limited., Bruce
Fielder, P.Eng., Principal Process Engineer of Melis Engineering Ltd.,
Marek Nowak, MA.Sc., P.Eng., Principal Geostatistician with SRK
Consulting, and Gerald Harper, Ph.D., P.Geo., Vice-President
Exploration and Wayne Roberts, P.Geo., Senior Vice-President of Western
Prospector Group Ltd., are the qualified persons (as defined under NI
43-101) on the project and have reviewed the technical information
presented in this release.


A conference call will be held, Tuesday, October 16, at 1:00 pm
Eastern, 10:00 a.m. Pacific. To participate in the conference call,
please dial 416-644-3417 or 800-731-5319. A replay of this conference
call will be available for one week starting Tuesday, October 16, at
3:00 pm Eastern or 12:00 pm Pacific. To listen to the replay, please
dial 416 640 1917 or 877 289 8525, pass code 21250293#.

"Eric Bohren"

Eric Bohren

President and CEO
Thu Feb 28, 2008
Maximum Discontinues Litigation Against Western
VANCOUVER, BRITISH COLUMBIA - Western Prospector Group Ltd. ("Western") (TSX VENTURE: WNP) is pleased to report that Maximum Ventures Inc. ("Maximum") has agreed to discontinue its Statement of Claim against Western, initiated in the Supreme Court of British Columbia on March 2, 2006. The discontinuance will formally occur when Plaintiff's counsel signs a Notice of Discontinuance and it is filed with the Court.

Maximum's Statement of Claim sought a declaration that Western held all Mongolian properties acquired from Mr. Kenneth de Graaf, or his companies, in trust for Maximum. The trust declaration sought by Maximum related to certain of Western's material Mongolian properties including a portion of the company's Saddle Hills uranium interests.

Western and its co-defendants are now entitled to reimbursement of a portion of their legal costs in an amount to be determined by the court. This reimbursement will include $242,000 that Maximum placed in a trust account for such costs, with additional payment subject to court review.

In discontinuing its case, attorneys for Maximum have threatened to initiate a new action against Western and other defendants suggesting that Maximum held a right of first refusal on certain Mongolian properties acquired from Mr. de Graaf or his companies. Acknowledging that no such action has been filed, Western believes that the potential allegations against it are without merit.

It is Western's understanding that the discontinuance by Maximum does not affect the action initiated by Anchorage Capital Master Offshore Ltd. ("Anchorage"), a major shareholder of Western, in the Supreme Court of British Columbia (see press release March 6, 2007). Anchorage seeks general and punitive damages for allegations of Maximum's failure to disclose under the securities legislation and breaches of the Competition Act.

"Eric Bohren"

Eric Bohren
President and CEO

For further information:
604-675-6985; email

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Khan Resources Announces Offer for Western Prospector
5/11/2008 6:08:44 PM - Market Wire

TORONTO, ONTARIO, May 11, 2008 (MARKET WIRE via COMTEX News Network) --

Khan Resources Inc. (TSX: KRI) announced today that it will make an offer to acquire all of the outstanding common shares of Western Prospector Group Ltd. (TSX VENTURE: WNP) in order to consolidate its position in the Saddle Hills district of Mongolia and achieve significant synergies from the joint development of Khan Resources' Dornod uranium deposit and Western Prospector's Gurvanbulag uranium deposit in that district.

Highlights of the Offer

- Western Prospector shareholders to receive 0.685 of a Khan Resources common share for each common share of Western Prospector

- The Offer represents a premium of 34% based on the 20 day volume weighted average trading prices of Khan Resources and Western Prospector and a premium of 30% based on the last Western Prospector and Khan Resources trading prices

- The Offer will consolidate ownership and operations of Khan Resources' and Western Prospector's contiguous properties in the Saddle Hills region of Mongolia

- Synergies in excess of US$100 million expected to result from the construction of one common mill (rather than two mills) and the sharing of infrastructure, as well as significant operating and administrative costs

Details of the Offer

Pursuant to the Offer, Western Prospector shareholders will receive 0.685 of a Khan Resources common share for each Western Prospector share. Based on the volume weighted average trading price of the Khan Resources common shares on the Toronto Stock Exchange (TSX) and the Western Prospector common shares on the TSX Venture Exchange (TSXV), in each case for the 20 trading days ending May 9, 2008, the all share Offer represents a 34% premium to Western Prospector shareholders. The Offer also represents a premium of 30% over the May 9, 2008 closing price of Western Prospector's common shares of $0.50 on the TSXV, based on a closing price of $0.95 per Khan Resources common share on the TSX on that same date.

The acquisition of Western Prospector is expected to result in combined capital cost savings in excess of US$100 million, resulting from the construction of one common mill (rather than two separate mills) and the sharing of infrastructure. Khan Resources also anticipates significant operating cost savings from common ownership of the Dornod and Gurvanbulag deposits as a result of the consolidation of head office and management and administrative teams.

CEO of Khan Resources, Martin Quick, commented "This is a natural combination of two companies working towards the same goals in the same area. Western Prospector shareholders benefit by getting access to a rich and advanced Uranium deposit that can quickly be brought into production and by receiving a premium to their stock price. Khan shareholders benefit from an extensive exploration potential and by becoming more attractive to the Mongolian government as a mid-tier near-term producer."

An advertisement formally commencing the Offer will be published on Monday, May 12th in English in The Globe and Mail and The New York Times and in French in La Presse.

Full details of the Offer will be included in the formal offer and take-over bid circular to be filed with the securities regulatory authorities on May 12th and mailed to Western Prospector shareholders. Khan Resources will formally request a list of Western Prospector's shareholders on May 12th and expects to mail the take-over bid documents to Western Prospector shareholders as soon as possible following receipt of such list. The Offer will be open for acceptance until Friday, June 20, 2008 at 8:00 p.m. (Toronto time). The Offer will be subject to a number of conditions, including there having been validly deposited under the Offer and not withdrawn at the expiry time such number of common shares of Western Prospector that constitutes at least 50.1% of the common shares then outstanding (calculated on a fully diluted basis) and the provisions of Western Prospector's shareholder rights plan being waived, invalidated or cease traded. The Offer is also subject to the receipt of customary regulatory approvals, including the approval of the Toronto Stock Exchange to the listing of the common shares of Khan Resources to be issued in respect of common shares of Western Prospector deposited under the Offer.

The Information Agent and Depositary for the Offer is Kingsdale Shareholder Services Inc. at its office in Toronto, Ontario. Questions and requests for assistance or copies of the offer documents may be directed to Kingsdale at the following contact details:

Kingsdale Shareholder Services Inc., The Exchange Tower,
130 King Street West, Suite 2950,
Toronto, Ontario, M5X 1C7
Facsimile: 416-867-2271
Toll Free Facsimile: 1-866-545-5580
Toll Free (North America): 1-866-581-0510
Outside North America, Banks and Brokers Call Collect: 416-867-2272

Additional Information

The Offer is made for the securities of a Canadian issuer and the offer documents have been prepared in accordance with the disclosure requirements of Canada. Shareholders should be aware that such requirements are different from those of the United States. Financial statements included or incorporated by reference in the offer documents have been prepared in accordance with Canadian generally accepted accounting principles, and are subject to Canadian auditing and auditor independence standards, and thus may not be comparable to the financial statements of United States companies.

The enforcement by Western Prospector's shareholders of civil liabilities under United States federal securities laws may be affected adversely by the fact that Khan Resources is incorporated under the laws of the Province of Ontario, Canada, that Western Prospector is incorporated under the laws of the Province of British Columbia, Canada, and that a majority of Khan Resources' officers and directors are residents of Canada and some of Western Prospector's officers and directors are residents of Canada, that Kingsdale Shareholder Services Inc., the depositary and information agent for the Offer and some or all of the experts named in the offer documents may be residents of jurisdictions outside of the United States, and that all or a substantial portion of the assets of Khan Resources and Western Prospector and of the above mentioned persons may be located outside of the United States. You may not be able to sue Khan Resources, Western Prospector, or their respective officers or directors in a foreign court for violations of the US securities laws. It may be difficult to compel Khan Resources, Western Prospector and their respective affiliates to subject themselves to a US court's judgment.

You should be aware that Khan Resources or its affiliates, directly or indirectly, may bid for and make purchases of common shares of Western Prospector during the period of the Offer, as permitted by applicable Canadian or provincial laws or regulations.

Forward-Looking Statements

This press release may contain forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such forward-looking statements are made as at the date of this news release, and Khan Resources assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.

Khan Resources (TSX: KRI) is a Canadian acquisition, exploration and uranium development company. Its current activities are focused on the Dornod area in north eastern Mongolia, the site of a former Russian open-pit uranium mine. Khan holds interests in the Main Dornod Property, licensed for mining, and in the Additional Dornod Property, licensed for exploration. The Company's website is

Contacts: Investor Relations Contacts: Khan Resources Inc. Martin Quick, President & CEO (416) 360-3405 Email: Website: The Buick Group Jon Ruby (416) 915-0915, Ext. 301 or Toll Free: 1-877-569-7092 Email:

SOURCE: Khan Resources Inc.
Copyright 2008 Market Wire, All rights reserved.
Western Prospector will hold a conference call with live audio webcast on Tuesday, May 27 at 10 am EDT. Investors and analysts who wish to ask questions can call +416-644-3417 or +1-800-732-1073. To access the simultaneous webcast, log on to Western Prospector's website at Please note the webcast allows participants to listen only.

Board Describes Offer As Inadequate; Urges Shareholders Not To Tender

Vancouver, British Columbia -- May 27, 2008 -- Western Prospector Group Ltd. (TSX-V: WNP) today urged its shareholders to reject and not tender their shares to the unsolicited takeover bid by Khan Resources Inc.

The recommendation is contained in a Directors' Circular filed with Canadian securities regulatory authorities in response to the Khan bid. The Circular was filed on SEDAR and was concurrently posted to Western's website at

The Khan bid, announced May 12, 2008, offers 0.685 of a Khan common share for each Western share. There is no cash component to the bid, which expires on June 20, 2008.

"Our Board of Directors believes the Khan offer is inadequate and fails to reflect the true value of Western relative to Khan," said Eric Bohren, President and CEO of Western. "It is an opportunistic attempt by Khan to acquire Western prior to release of its feasibility study and completion of its strategic partnering program, which Western made public prior to the Khan offer. In fact, Western is much further advanced toward a production decision than Khan, which is one of the reasons why Khan needs Western much more than Western needs Khan."

In making its recommendation, the Board considered many factors, including the recommendation of the Special Committee of independent Directors and a written inadequacy opinion from its financial advisor, National Bank Financial Inc. The opinion states that the consideration provided under the Khan Offer is inadequate, from a financial point of view, to the shareholders of Western.

The Circular also details other reasons why the offer is unattractive, including:

* The share exchange ratio under the Khan offer does not reflect relative merits of Western's assets compared to Khan's assets;
* The offer does not reflect the underlying value of Western's assets;
* The complexity of Khan's ownership structure could be detrimental to the value realized by Western shareholders;
* Synergies of the combined entity are overstated and would accrue mostly to Khan;
* The offer is timed opportunistically to disadvantage Western shareholders;
* Khan shares are historically volatile, of uncertain value and thinly traded;
* Khan is seeking to gain control of Western without paying an appropriate change of control premium;
* Western's Board is pursuing other value-maximizing alternatives and a superior proposal may emerge;
* Khan is attempting to deny the Western Board sufficient time to maximize value for Western shareholders; and
* The offer is coercive, highly conditional and could result in Western shareholders holding an illiquid stock.

The Board's recommendation reflects the findings of a Special Committee of the Board, created on May 15 in response to the bid. As discussed in the Circular, the Board and the Special Committee, together with Western's management and financial and legal advisors, are working to evaluate a range of strategic alternatives that may enhance shareholder value. Western has been solicited by, and has initiated contact with, a number of third parties who have expressed an interest in considering alternative transactions.

The Special Committee, composed of four independent Directors, is chaired by Gordon Pridham, who has more than 25 years of experience as an investment banker, investor, and board member of Canadian public companies. "The Board of Directors is actively pursuing the full range of options to maximize shareholder value," said Mr. Pridham. "These include discussions with third parties, as well as the option of completing Western's strategic partnering initiative. From these alternatives a superior proposal may emerge, and there must be sufficient opportunity for them to work their course."

For further information

Investor relations
Eric Bohren
President and CEO

News media
Camilla Bartosiewicz
Barnes McInerney Inc.
416-367-5000 ext. 240
The Northern Miner, 5/27/2008

Western Prospector urges shareholders to reject Khan takeover bid

Khan Resources' (KRI-T, KHRIF-O) unsolicited takeover bid for Western Prospector (WNP-V, WEPGF-O) is "inadequate and falls significantly short of Western's true value," Western's board declared today.

Under the all-share offer, Western Prospector's shareholders would receive 0.685 of a Khan Resources share for each Western Prospector share, representing a 34% premium over Western Prospector's weighted average closing price for the 20 days prior to the offer. On the basis of Khan's share price at the time of the announcement, the bid values Western Prospector equity at US$35 million.

"If it were to acquire the company, Khan would acquire with it, cash of US$25 million. That means the remaining US$10 million would acquire all the remaining assets of Western," Eric Bohren, Western's president and chief executive explained in a conference call, urging Western shareholders not to tender their shares to the bid.

Western's assets include the Gurvanbulag project in Mongolia, a uranium deposit with National Instrument 43-101 classified resources of 22.3 million lbs of uranium oxide and an estimated net asset value of about US$240 million.

"Khan's offer of US$10 million represents a 95% discount to the Gurvanbulag deposit completely on its own," Bohren told the Northern Miner in a subsequent telephone interview.

Bohren noted that Western has invested more than US$68 million into Gurvanbulag and other deposits in the area. It dewatered Gurvanbulag a year ago and has advanced infrastructure in place including 17 km of underground tunnels. There is also 10 megawatts of electrical power available, enough to start full-scale production. A feasibility study is on track to be completed in the third quarter of this year.

A preliminary economic assessment of Gurvanbulag suggests production could start as early as the second quarter of 2010 if the project gets the green light from the Mongolian government.

By contrast, Bohren argued, Khan has not even started to dewater its 500-meter-deep underground deposit number 7 that has been flooded since the former Russian operators departed 18 years ago. Khan's open-pit deposit (No. 2) is also flooded and requires dewatering, Bohren claims.

"How do you complete a feasibility study when your main deposit is underwater and has been underwater for 18 years," Bohren said. "The challenges for Khan are that it will have to spend millions of dollars to dewater the mine but how does it get its joint-venture Mongolian and Russian partners to contribute the capital to make that happen?"

So far Khan has invested about US$6 million in its Dornod project, compared with Western's US$68 million in Gurvanbulag, Bohren said.

"In a nutshell we're on a fast track to production … Khan has a long way to go both from a dewatering and feasibility perspective as well as from an infrastructure perspective," Bohren asserted.

Calling Western's response to its takeover bid "predictable," Martin Quick, Khan's chief executive, said he was "still very optimistic that the takeover will go forward" and dismissed Bohren's claims about water issues at its Dornod deposit.

"We have no doubts that the dewatering will be carried out quickly and successfully once we start it, but we don't want to invest large amounts of money until such time as we have an investment agreement" with the Mongolian government, Quick said in a telephone interview from New York, citing cases such as Ivanhoe Mines (IVN-T, IVN-N, IVN-Q) and Rio Tinto (RTP-N, RIO-L), who have spent millions on their Oyu Tolgoi deposit and have yet to sign an investment agreement with the government.

Quick also noted that Khan is in the midst of a feasibility study and had expected to complete it at the same time as Western's but decided to wait until after the takeover was completed so that the feasibility study could be expanded to include Gurvanbulag.

"Because we are now expecting the takeover to be successful I'm not going to spend money on a feasibility study for just the Dornod deposit—we expect to expand it to include both [the Dornod and Gurvanbulag] deposits," Quick said.

Dornod is a project that was initially developed by Russian owners between 1988 and 1995. The Russians abandoned it when uranium prices slipped to levels that made the deposit uneconomic. By the time they left, they had invested roughly US$150 million into the project.

Western's Gurvanbulag deposit and Khan's Dornod project are about 40 km apart in the Saddle Hills-Mardai area of northeastern Mongolia's Dornod province.

In addition to Gurvanbulag, Western holds about 180,000 hectares of land where it has exploration licenses compared with about 500 hectares that belong to Khan, Western contends. Of the combined land holdings between Western and Khan, Western holds 99% and Khan holds less than 1%, Bohren said.

Bohren also voiced concerns that shares of Khan are "historically volatile, of uncertain value and thinly traded," making them "an unattractive form of currency."

"They're paying with stock, so it's an illiquid currency backed by a business plan that has a lot of uncertainty and risk to it," Bohren argued. "It's not like they are putting up real cash for our assets, they're putting up a weak business plan."

For its part, Khan argues the takeover would lead to combined capital cost savings of more than US$100 million because only one mill would have to be built rather than two. The tie-up would also generate operating cost savings of between US$2-4 million, Khan argued at the time the bid was announced on May 12.

In mid-day trading, Western shares were up 2¢ apiece to 73¢ on a trading volume of 70,700. (Western's 52-week trading range is 47.5¢-$6.) Khan Resources was trading down 8¢ a share at 93¢ on a trading volume of 31,400. (Khan's 52-week trading range is 85¢-$5.01.)
Tue Jun 3, 2008
Western Prospector Announces Changes To Mill Design For More Efficient Uranium Processing Method

Lower Capital & Operating Costs Anticipated At Gurvanbulag Uranium Deposit

Vancouver, British Columbia - June 3, 2008 - Western Prospector Group Ltd. (TSX-V: WNP) ("Western") today announced it has designed a simplified method for processing uranium ore at its Gurvanbulag deposit in Mongolia. The improvement is expected to result in lower capital and operating costs for the onsite processing mill.

Western's preliminary economic assessment completed by Micon International Ltd. in September 2007 assumed a traditional process called "solvent extraction" would be used to recover pure uranium oxide from the bulk extraction system. The newest test work, completed by SGS Lakefield Research Ltd. under the supervision of Melis Engineering Ltd., indicates the "Resin-in-Pulp" (RIP) method can be employed to perform the same function with lower capital and operating costs. In particular, by eliminating the flammable solvents used in the traditional solvent extraction process, the separate building required for this stage of the process has been eliminated from the mill design. In addition to direct capital and operating cost benefits, Western anticipates savings in insurance premiums arising from the elimination of flammable solvents.

Western has instructed its feasibility study team, led by Aker Metals, a division of Aker Solutions Canada Inc., to incorporate these changes into the processing mill design and costs. Western's feasibility study is on schedule for completion in the third quarter of 2008.

The original test work for the preliminary economic assessment was based on combining small scale samples from surface drill holes. The most recent test work was based on large scale samples collected from underground after completion of dewatering and geological mapping. The geological mapping determined the character of the mineralization throughout the deposit to ensure that samples were representative.

"Western's decision to dewater Gurvanbulag was an important one for progressing toward a successful feasibility study," said Eric Bohren, President and Chief Executive Officer. "As a result of having underground access to the mineralized zones, we were able to complete thorough metallurgical testing and confirm the suitability of this lower cost RIP processing method."

Gerald Harper, PhD, P.Geo, Senior Vice President Mongolian Operations of Western Prospector Group Ltd. is a qualified person as defined under NI 43-101 and has reviewed the technical information presented in this news release.
Thu Jun 5, 2008
Western Prospector Reports Gurvanbulag Power Line Operational

Supports Near-Term Production Strategy

Vancouver, British Columbia - June 5, 2008 - Western Prospector Group Ltd. (TSX-V: WNP) ("Western") today reported its Gurvanbulag project in Mongolia is now operating on electric power supplied through the recently completed 120 kilometre power line from the thermal power station at Choibalsan, Mongolia.

"Completion of the power line project represents a key infrastructure milestone for Western," said Eric Bohren, President and CEO. "It eliminates time and cost uncertainties in providing power for production and will result in significantly lower operating costs."

The power line project represents an investment of over $7 million by the joint venture of Western and XinXin Mining ("XXM"), which is developing a mine seven kilometres from Gurvanbulag. The project began in 2006 with joint venture discussions, engineering design, environmental studies, construction planning and permitting. In 2007, the power line and substations were built, and in 2008 it was tested and cleared for operation.

The power line, which has a transmission capacity of 30 megawatts and 110,000 volts, ensures a low cost, predictable electricity supply to support full scale production at Gurvanbulag (see Figure 1). The cost savings are significant; at its peak last winter, Western was spending approximately $200,000 per month in diesel fuel for Gurvanbulag exploration, camp operations, and dewatering activities. Costs for an equivalent level of electricity over the power line are estimated to be approximately $50,000 per month.

The power line extends 120 kilometres from the Mongolian town of Choibalsan to the Gurvanbulag site. From the Gurvanbulag substation, the joint venture has constructed an internal distribution network to supply power to Western's camp site and deposit site. The design allows for incorporation of additional facilities to expand the power distribution to all the locations that will eventually serve an operating mine and processing plant.

Figure 1 -- Electrical substation at Gurvanbulag, Mongolia

Western's decision to move ahead with the power line project was based partly on the need for sufficient electrical capacity to sustain future operations. Beyond the 10 megawatts of power committed to each of Western and XXM, there is no substantive additional capacity at the existing power plant in Choibalsan. Without a costly and lengthy process to expand the Choibalsan plant, Western believes there would be insufficient electrical capacity to support a major expansion of its project or to support another mine in the district.

Through its joint venture, Western and XXM have agreed to allocate the estimated one megawatt of surplus power capacity to the local communities of Bayandun-soum, Dashbalbar-soum, and Gurvanzagal-soum, which will be connected to the electric grid for the first time. These connections will be made under a Mongolian government program of funding for rural electrification. With severe winters in northeast Mongolia, these communities will be able to switch from high cost diesel powered generators to lower cost electric power, which will substantially reduce the cost of living.

"The power line represents a major infrastructure milestone for Western in that it clears the path to production, eliminates the risk of securing electrical power capacity in Choibalsan and reduces exposure to uncertain diesel fuel costs in the future," said Gerald Harper, Senior Vice President of Western. "Along with the benefits to three local communities, it also provides Western with substantial experience with local contractors that will enable us to execute the other large-scale technical projects in our production plan."

Western has pushed forward to build a production ready infrastructure that includes the power line, a 200-person camp, a cellular phone connection to the national network and various Mongolian-national training programs and scholarships. Western has spent over $71 million to date in project exploration, development and infrastructure investments.
Western Readies Bayanbulag Coal Deposit for Production

Regulatory Filing Advances Near-term Production Strategy

VANCOUVER, BRITISH COLUMBIA, Jun 12, 2008 (Marketwire via COMTEX News Network) --

Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western") reports it has filed an independent resource report with the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) for its Bayanbulag coal deposit.

The report, which conforms to Mongolian reporting standards, was required for regulatory purposes. It represents another important milestone for Western's near-term production strategy for the planned Gurvanbulag uranium mine.

The report, prepared by Enkhbayar B. and Byambaa S., identifies brown or thermal coal in a horizontal, near-surface seam suitable for open pit mining. Bayanbulag is located adjacent to a regional highway, 27 kilometres northwest of Choibalsan, which is the regional capital of Dornod province.

Western acquired the Bayanbulag deposit in 2007 with the intent to mine the coal as a fuel source for its Gurvanbulag uranium mine development, which will need heating for mine air and surface buildings. Since then, several regional third parties indicated interest in purchasing coal from Western for their own needs. As a result, Western is developing a mining plan to serve the dual purpose of its own needs as well as possible sales to other customers.

Bayanbulag's coal resources were initially drill sampled by Soviet workers in 1951-52. In 2007 Western drilled an additional 12 holes to prepare for the current resource report. The deposits that are the subject of the report lie within an approved Mining License with the balance extending onto the adjacent Exploration License. Western owns 100% of each license. The deposit is open to the west and southwest. The coal is within a single continuous flat-lying seam ranging in thickness to more than 25 metres with the upper contact ranging from 2 to 25 metres below surface (see attached section). A small portion of the top of the coal seam has been exposed in a test pit.

"Advancement of our Bayanbulag coal deposit supports Western's near-term production strategy, and further underscores the scale of our production-ready infrastructure," said Eric Bohren, President and CEO. The infrastructure includes a 10 MW power line, a 200-person camp and a cellular phone connection to the national network. Western has also created Mongolian-national training programs and scholarships. Western has spent over $71 million to date in project exploration, development and infrastructure investments.

The report was not prepared in accordance with NI 43-101 (Standards for Disclosure for Mineral Properties) and therefore should not be relied upon. It has been prepared in accordance with Mongolian standards, which are the only standards acceptable to the Mongolian State Mineral Reserve Committee ("MSMRC"). The MSMRC must approve all resources prior to any applications for mining and must approve Mining Licenses and mining plans before production can be initiated.
Western Prospector's good friend may seek control

2008-06-19 17:27 ET - News Release

Ms. Anne-Marie Kim of Anchorage reports


Anchorage Capital Master Offshore Ltd. is ceasing to file reports under Part 4 of National Instrument 62-103 for Western Prospector Group Ltd.

Anchorage exercises control or direction over 10,257,610 common shares of Western Prospector, representing approximately 19.0 per cent of its issued and outstanding common shares.

Anchorage originally acquired its common shares of Western Prospector for investment purposes. On May 12, 2008, Khan Resources Inc. made an unsolicited offer to acquire all of the issued and outstanding common shares of the corporation. In Stockwatch on May 28, 2008, Anchorage announced that it will continue to support the corporation and did not intend to tender to the Khan takeover bid.

Anchorage hereby announces that it may in the future, either alone or together with other joint actors:

1. Make a formal bid for securities of the corporation; or
2. Propose a reorganization, amalgamation, merger, arrangement or similar business combination with the corporation that if completed would reasonably be expected to result in Anchorage, either alone or together with any joint actors, possessing effective control over the corporation or a successor to all or a part of the business of the corporation.

Anchorage is not currently a party to any agreement in respect of the holding, disposition or voting of any common shares of Western Prospector.

The issuance of this news release is not an admission that Anchorage owns or controls any common shares of Western Prospector with, or is a joint actor with, another entity.

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