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) a renewable energy
company, today announced that it has entered into a new US$11 million secured
loan facility. Under the terms of the loan facility the initial tranche of US$7
million 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$4 million will be available to the
company when 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.


As partial consideration for entering into the loan facility, the company has
agreed to issue 43,495,543 warrants of the company, each warrant being
exercisable for a period of 24 months at a price per warrant of CDN$0.14. 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.


On November 7, 2008, the Company entered into an initial US$11 million secured
loan facility, which has been fully drawn upon by the Company.


The company will file a material change report as soon as practicable after
issuing this press release. The material change report will be filed less than
21 days prior to the closing of the loan agreement. The timing of the material
change report is, in the company's view, both necessary and reasonable because
the terms of the loan agreement were settled and approved by the company's board
of directors and the company requires immediate funding to maintain the schedule
for its project at The Geysers Geothermal Field in California.


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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