WestCan Acquires Additional Gold Property

Trading Symbol WCU.V

Hedley Gold Basin Holdings Total 16,000 Hectares

VANCOUVER, Nov. 17, 2011 /CNW/ - WestCan Uranium Corp. (the "Company") ("WestCan") (WCU.V) is pleased to announce it has entered into an Option Agreement with an arms-length individual on additional gold Claims, located south of Hedley, in the Hedley Gold Basin of southern British Columbia. The project encompasses approximately 5,000 hectares in the Similkameen and Osoyoos Mining Divisions, bringing the total holdings in the area to slightly more than 16,000 hectares.

Management has received detailed reports of previous programs, and is currently reviewing the data with a view to preparing a comprehensive exploration program to be carried out in the near future.

President and CEO Chris England stated, "We have been fortunate to option a large tract of land with a long history of gold exploration and production. The area around our current holdings has been heavily staked and we are expecting exploration in the area will be brisk. The increased activity has undoubtedly been spurred by the substantial increase in gold prices in the past year. We are anticipating we will be a major part of this activity."

Under the terms of the agreement, WestCan will pay the Optionor a total of $100,000 in cash; issue 500,000 shares; and incur a minimum of $1,000,000 of exploration expenditures in exchange for receiving a 100% interest in the project. The commitments are to be staged over a four year period. The Optionor will also receive a 2% Net Smelter Royalty. The agreement is subject to regulatory approval.

On behalf of the Board of Directors

"Chris England"
President and CEO
WestCan Uranium Corp.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE WestCan Uranium Corp.

For further information:

Phone:       (604) 694 0888
Email:       info@westcanuranium.com
Website:      www.westcanuranium.com

 

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WestCan Uranium Corp.

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