Western Uranium Corporation closes flow-through financing

Western Uranium Corporation (the “Company” or “Western Uranium”) is pleased to announce that it has today completed a brokered private placement of 2,231,000 flow-through common shares for gross proceeds of $2,788,750. The price was $1.25 per flow-through common share. The flow-through common shares will be subject to a four month hold period.

The financing syndicate was led by Dundee Securities Corporation and Haywood Securities Inc. The agents were paid a commission equal to 8% of the gross proceeds on the financing and received warrants entitling them to acquire, for a period of 12 months, 178,480 common shares at a price of $1.25 per common share.

The proceeds raised under the financing will be used by the Company for exploration expenditures in the Thelon Basin in Nunavut and the Northwest Territories, which expenditures will qualify as “flow-through mining expenditures” for the purpose of the Income Tax Act (Canada).

On behalf of the Board of
Western Uranium Corporation

“Pamela Klessig”

Pamela J. Klessig
President & CEO

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Western Uranium Corporation is a mineral exploration company with a focus on uranium. The Company has exploration properties in Kings Valley, Nevada, Treeline, New Mexico and in the Thelon Basin, Nunavut and the Northwest Territories. The Company has its head office in Vancouver, Canada; and its executive management team is based in Reno, Nevada.

For further information

Western Uranium Corporation, Telephone: (775) 827-3311, Email: info@westernuranium.com, Website: www.westernuraniumcorp.com

Source: Western Uranium Corporation