Western Exploration Announces Closing of Private Placement

Western Exploration Inc. (TSXV: WEX; OTCQX: WEXPF) (the "Company" or "Western Exploration") is pleased to announce that it has closed the previously announced non-brokered private placement of units (the "Units") in the capital of the Company (the "Offering").

The Offering consisted of the issuance of 9,348,086 Units at a price of $0.70 per Unit, for aggregate gross proceeds of approximately $6,543,659.

Each Unit consists of one variable voting share of the Company (each, a "Share") and one variable voting share purchase warrant of the Company (each whole variable voting share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one variable voting share of the Company (each, a "Warrant Share") at a price of $1.00 per Warrant Share at any time on or before the date which is 36 months after the closing date of the Offering (the "Closing Date"), subject to adjustment in certain events.

In connection with the Offering, the Company has paid certain parties finder's fees in the form of an aggregate of $110,946.80 in cash and has issued 158,495 variable voting share purchase warrants (each a "Finder's Warrant"). Each Finder's Warrant entitles the holder to purchase one Share at $1.00 for 36 months.

In addition, Canaccord Genuity Corp. served as financial advisor in connection with the Offering and was paid $40,000 for their services.

All securities issued pursuant to the Offering will be subject to a hold period in accordance with applicable Canadian securities laws, expiring four months and one day following the closing date of the Offering.

The Company intends to use the net proceeds raised from the Offering for exploration and development expenditures at the Aura Project in Nevada, and for general corporate purposes.

Completion of the Offering remains subject to the receipt of all final approvals of the TSX Venture Exchange.

MI 61-101 Disclosure

Certain insiders of the Company, including Agnico Eagle Mines Limited, participated in the Offering by purchasing an aggregate of 1,107,143 Units at a price of $0.70 per Unit for aggregate gross proceeds of $775,000 (each, an Insider Subscription").

The following insiders of the Company have subscribed for Units under the Offering:

Insider	Insider Relationship	Units Purchased (#)	Subscription Amount ($)
Agnico Eagle Mines Limited