Mr. Chris England reports

WESTCAN AMENDS PRIVATE PLACEMENT

Westcan Uranium Corp., pursuant to the non-brokered private placement announced in Stockwatch on Nov. 8, 2010, is increasing the private placement to $1.54-million.

The number of units to be sold will be increased to 18.5 million and will consist of 12.5 million non-flow-through units priced at eight cents per unit and six million flow-through units priced at nine cents per unit, as more particularly described below.

Non-flow-through units

Each non-flow-through unit consists of one non-flow-through common share in the capital of the company and one share purchase warrant entitling the holder to acquire one non-flow-through common share of the company, exercisable for a period of 24 months following the closing date of the private placement. The exercise price of each of the share purchase warrants will be 15 cents during the first 12 months of the term of the warrants, or at an exercise price of 20 cents during the last 12 months of the term of the warrants.

Flow-through units

Each flow-through unit consists of one flow-through common share in the capital of the company and one share purchase warrant entitling the holder to acquire one non-flow-through common share of the company, exercisable for a period of 24 months following the closing date of the private placement. The exercise price of each of the share purchase warrants will be 15 cents during the first 12 months of the term of the warrants, or at an exercise price of 20 cents during the last 12 months of the term of the warrants.

The company shall rely on the accredited investor exemption (British Columbia, Alberta and Ontario) and the friends and relatives exemption (B.C.) and therefore will not be preparing an offering document.

The company will pay a finder's fee in connection with the private placement of 10 per cent cash, plus 10-per-cent agents' warrants where permitted by the TSX Venture Exchange. The exercise price of each of the agents' warrants will be 15 cents during the first 12 months of the term of the warrants, or at an exercise price of 20 cents during the last 12 months of the term of the warrants.

The gross proceeds of the offering will be used in part for general working capital and the flow-through portion of the private placement will be used for qualified Canadian exploration expenditures.

The private placement is subject to the approval of the TSX-V.