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Strategies & Market Trends : Ride the Tiger with CD

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To: Rocket Red who wrote (88823)8/17/2007 5:06:02 PM
From: Rocket Red  Read Replies (1) of 313764
 
Western Prospector's licence 7685X cancelled

2007-08-17 16:42 ET - News Release
Shares issued 44,604,062
WNP Close 2007-08-15 C$ 4.00

Mr. John Brock reports

WESTERN PROSPECTOR RECEIVES NOTICE FROM MONGOLIAN MINERAL RESOURCES AUTHORITY

Western Prospector Group Ltd. has received notice from the Mineral and Petroleum Resources Authority of Mongolia that exploration licence 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 financed by the state budget. Western Prospector understands that in this regard, the Minerals Authority has determined that in total, 34 minerals licences issued to 18 legal entities may be cancelled.

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.

We seek Safe Harbor.
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