Penasquito continuity confirmed (July 30, 2002)

Vancouver — The latest assay results from a recently completed 6,900 metre drill program over the Penasquito base metal property have prompted Western Copper Holdings (WTC-T) to drill another 7,000 metres on the promising Mexican project.

The 15-hole program tested the continuity and extent of mineralization previously hit in the Chile Colorado zone. The results outline a 500-by-350-metre zone of continuous mineralization. Highlights from the last 8-holes include hole 23, which was collared 50 metres east and 100 metres south of hole 22 (332 metres grading 0.39 grams gold, 1089 grams silver per tonne, plus 15% lead, 0.1% zinc and 0.41% copper) and hit 282 metres averaging 0.54 gram gold, 38 grams silver, 0.2% lead and 0.87% zinc.

Moving 600 metres northeast, hole 24 cut 250 metres grading 0.44 gram gold, 49 grams silver, 1.1% lead, and 2.35% zinc.

All of the holes intersected high-grade zones within the broad interval of mineralization.

Based on the results engineering firms Kilborn/SNC Lavalin have been hired to calculate a geological resource for the property.

Drilling is slated to resume in August with 7,000 metres of drilling aimed at delineating the extent of mineralization to the southwest of Chile Colorado and in the area to the northeast between holes 23 and 24.

Polymetallic mineralization occurs in veins, stockworks and disseminations in Cretaceous sandstones.