WGP Western Geopower Corp Com Npv

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO
UNITED STATES OF AMERICA NEWS SERVICES.


Western GeoPower Corp. (TSX VENTURE:WGP) (FRANKFURT:WE6.F) a renewable energy
company, today announced that it has entered into a US$11 million secured loan
facility. Under the terms of the loan facility the initial tranche of
US$2,480,000 will be available to the company upon receipt of approval of the
TSX Venture Exchange for the issuance of warrants and the payment of certain
lending fees and expenses. The second tranche of US$8,520,000 will be available
to the company upon the later of 15 business days following the initial advance
having elapsed or the date upon which all conditions precedent to that tranche
have been met, including the perfection of security, the discharge of any liens
other than permitted liens, payment of certain lending fees and expenses, and
that no event of default then exists. Interest will be payable at a rate of 1%
for the first six months, 1.25% for the second six months and 1.5% thereafter.
The lender will have the right, subject to the prior approval of the TSX Venture
Exchange, to elect to receive the payment of interest on the loan in the form of
common shares of the company.


As partial consideration for entering into the loan facility, the company has
agreed to issue 29,629,629 warrants of the company, each warrant being
exercisable for a period of 24 months at a price per warrant of CDN$0.18. The
warrants and underlying shares will be subject to a hold period of four months
following their issuance.


The proceeds of the loan may be used for drilling, project management,
development cost, plant equipment, and up to US$300,000 in monthly working
capital and general corporate purposes.


The company is proceeding with the loan facility in lieu of completing
additional tranches of its CDN$25 million non-brokered private placement
announced August 7, 2008. The company completed CDN$10.6 million of that
non-brokered private placement as announced on October 20, 2008.


About Western GeoPower Corp.

Western GeoPower Corp. is a renewable energy company dedicated to the
development of geothermal energy projects for the delivery of clean,
sustainable, baseload electricity generation. The Company is developing The
Western GeoPower Unit 1 geothermal power plant at The Geysers Geothermal Field
in California, United States and the South Meager Geothermal Project in British
Columbia, Canada.


On behalf of the Board of Western GeoPower Corp.

Kenneth MacLeod, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Statements in this release that are forward-looking are subject to various risks
and uncertainties concerning the specific factors identified above that reflect
the Company's expectations and projections about its future results. The Company
has tried whenever possible to identify these forward-looking statements which
include but are not limited to, words such as "anticipates," believes,"
"estimates," "expects," "plans," "intends," "potential," and similar
expressions. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Investors are
cautioned that any such statements are not guarantees of future performance and
that actual results or developments may differ materially from those projected
in the forward-looking statements. The Company disclaims any obligation or
intention to update or to revise any forward-looking statement, whether as a
result of new information, future events or otherwise. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available.

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