Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western") announced today that
Tinpo Holdings Industrial Company Limited ("Tinpo") has terminated discussions
with Western concerning a proposal to make a renewed offer to acquire all of the
common shares of Western (the "Shares").


The original offer by Tinpo to acquire all of the Shares, for cash consideration
of $1.34 per common share (the "Offer"), was made on July 15, 2008 and then
withdrawn by Tinpo on September 30, 2008. Tinpo then contacted Western on
October 2, 2008 and indicated they would like to re-engage in discussions with
Western under similar terms of the Offer. 


Western is of the view that Tinpo had no right, contractual or otherwise, to
withdraw the Offer or to fail in any other respect to perform its obligation to
acquire the Shares in accordance with the terms of the Offer or any of its other
obligations under the support agreement and related guarantee each dated July
15, 2008 (the "Agreements").


Western intends to pursue vigorously all of its rights and remedies against
Tinpo, its principals, shareholders, officers, directors and any others who
acted jointly or in concert with or who otherwise assisted Tinpo in breaching
any of its obligations under the Offer or the Agreements.


Western notes that its Board of Directors remains committed to enhancing
shareholder value in both the short and long term and continues to evaluate all
strategic alternatives.


Note Regarding Forward-Looking Statements

This press release and other written or oral communication from the Company may
include certain statements that may be considered "forward-looking statements"
within the meaning of that phrase under Canadian securities laws. Statements
other than historical facts that address possible future events, plans or
developments are forward-looking statements. Such statements may be identified
by the use of words such as "will", "may", "expects", "estimate", "intend" or
the use of the future or conditional tense. Certain material factors or
assumptions were applied in drawing our conclusions and making those
forward-looking statements. Forward-looking statements reflect management's
current views with respect to possible future events and conditions and, by
their nature, are based on management's beliefs and assumptions and subject to
known and unknown risks and uncertainties, both general and specific to the
Company. Although the Company believes the expectations expressed in such
forward-looking statements are reasonable, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in our forward-looking statements. Readers are cautioned that risks may
change or new risks may emerge. Additional information regarding the material
factors and assumptions that were applied in making these forward looking
statements as well as the various risks and uncertainties we face are described
in greater detail in the "Risk Factors" section of our annual and interim
Management's Discussion and Analysis of our financial results and other
continuous disclosure documents and financial statements we file with the
Canadian securities regulatory authorities which are available at www.sedar.com
and available on the Company's website at www.westernprospector.com. The Company
undertakes no obligation to update this forward-looking information except as
required by applicable law.
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