Western Standard Metals, along with its subsidiaries, is a mineral exploration company and is principally engaged in the location, evaluation, acquisition, exploration and development of natural resource properties with an emphasis on properties with the potential to host mineral/metal deposits. Western Standard Metals' property interests are primarily located in the USA, Canada and Sweden.

• Experienced management and exploration team with a proven track record of resource recovery

• Advanced stage gold project purchased for $4.50/oz

• Favorable equity structure

• No long-term debt load

Western Standard Metals' primary focus is on the recently acquired Almaden Gold Project.

The Almaden Gold Project is located in rural western Idaho with excellent access and nearby hydro-electric power lines. The project is host to a low-sulphidation, epithermal gold deposit drilled extensively from 1978 to 1992 by a number of companies including Homestake and Amax Gold. Freegold optioned the property in 1995 and commissioned Watts, Griffis and McQuat ("WGM") to complete a feasibility study based on additional drilling and metallurgical test work completed by Freegold. The feasibility study, completed in 1997, envisioned gold production of approximately 100,000 ounces/year over a 5-year mine life by open pit mining and heap leach extraction.