News Release
Jul 13, 2009
Western Copper Closes C$4 Million Flow-Through Financing And Commences Exploration Activities
VANCOUVER, B.C. Western Copper Corporation (“Western Copper” or the “Company”) (TSX:WRN) is pleased to announce that, further to its news release dated July 06, 2009, it has completed a flow-through financing (the “Offering”) for gross proceeds of C$4,000,000, representing 100% subscription.
The gross proceeds will be used for exploration activities, primarily at the Company’s world class Casino gold-copper-molybdenum project located in the Yukon. Exploration activities at Casino will commence immediately consisting initially of a Quantec Titan 24 Deep Penetrating IP geophysical survey to expand our understanding of the extent of the deposit limits, followed by a drilling program of approximately 10,000 metres.
Pursuant to the Offering, Western Copper issued 4,000,000 units, comprised of one flow-through common share of the Company at a price of C$1.00 and one-half of one common share purchase warrant. Each whole warrant will be exercisable for one non flow-through common share of the Company at a price of C$1.25 per common share and will expire three years following closing. If, commencing on the date that is four months plus one day following the closing of the Offering, the weighted average trading price of the Company’s common shares on the TSX is at a price equal to or greater than C$2.00 for twenty consecutive trading days, the Company will have the right to accelerate the expiry date of warrants by giving thirty days written notice to the holder.
Casimir Capital L.P. acted as the agent (the “Agent”) of the Offering, while Kingsdale Capital Markets Inc. participated as part of the selling group. At the closing, the Agent received a cash commission and warrants (“Agent’s Warrants”), both equal to 6% of the gross proceeds raised. Each warrant will be exercisable for one non flow-through common share of the Company at a price of C$1.25 per common share and will expire two years following closing. If the weighted average trading price of the Company’s common shares on the TSX is at a price equal to or greater than C$1.75 for fifteen consecutive trading days, the Company will have the right to accelerate the expiry date of the Agent’s Warrants by giving thirty days written notice to the Agent.
As a result of the completion of the Offering, Western Copper’s share structure consists of 76,819,036 common shares, 4,116,834 options and 2,240,000 warrants, totaling 83,175,870 fully diluted shares.
In accordance with securities legislation currently in effect, the flow through shares, warrants, any common shares issued on exercise of the warrants, and Agent's Warrants will be subject to a hold period of four months plus one day extending from the closing date of the transaction.
ABOUT WESTERN COPPER CORPORATION
Western Copper is a Vancouver based exploration and development company with significant gold, copper and molybdenum resources and reserves. The Company has 100% ownership of four Canadian properties. The two most advanced projects are the Carmacks Copper Project and the Casino Project both located in the Yukon Territory. The Casino Project is one of the world's largest open-pittable copper, gold and molybdenum deposits. For more information, visit http://www.westerncoppercorp.com
On behalf of the board,
"Dale Corman"
F. Dale Corman
Chairman & CEO
Western Copper Corporation
For more information, please contact:
Paul West-Sells - Executive VP,
Corporate Development
Chiara Orrigoni - Investor Relations
Call: 1.888.966.9995 or 604.684.9497
Email: .(JavaScript must be enabled to view this email address)

