Western Copper’s 100 per cent owned Carmacks copper property is located 200 kilometers north of Whitehorse in the Yukon Territory, Canada.

The Carmacks No.1 Zone contains a NI 43-101 compliant measured and indicated resource of 14.4 Mt at a grade of 1.10% total copper at a 0.5% total copper cut-off grade.

The 2006 drilling program indicated additional mineralization at both the No. 1 and No. 13 Zone. For full details, please see News Release below.

An updated 43-101 resource incorporating results from Western Copper's 2006 drilling program will be released in the spring of 2007.

Location

The Carmacks property is located near the Village of Carmacks in the Yukon Territory. The site is located close to an all-weather road and infrastructure including a hydro-electric power line that is currently being permitted by Yukon Energy.

The operating environment allows for open pit mining and processing 1.84 M. tonnes of ore per year. The SX / EW recovery envisaged by the prior Feasibility Study and Basic Engineering Report is year-round with production of approx. 32 million lb per year of pure copper cathode.

Hushamu Project

The Hushamu property is located on northern Vancouver Island, approximately 25 kilometres west of Port Hardy and 360 kilometres northwest of Vancouver, British Columbia. The property consists of 215 mineral claims within the Nanaimo Mining Division and covers approximately 37,000 hectares (91,000 acres) immediately north of, and parallel to, the western end of Holberg Inlet. 

The Hushamu deposit is situated about 29 kilometres from the reclaimed BHP Island Copper Mine.  The marine load-out infrastructure, and hydro power to the Island Copper property remains in place.

The claims cover a highly prospective porphyry copper district that measures 60 kilometres in length and eight kilometres in width.  The district includes the previously mined Island Copper deposit in the south (345 million tonnes @ 0.41% Cu, 0.19 g/t Au), the Hushamu deposit in the central region and the Red Dog deposit in the north.  Numerous additional copper/gold porphyry showings have been identified within the belt including the Pemberton Hills, NW Expo, Goodspeed and South Macintosh areas.

The current independent NI 43-101compliant Mineral Resource estimate for the Hushamu deposit, at the 0.2% copper cut-off, is: 

Casino Project

The Casino porphyry copper-gold-molybdenum deposit is located  300 kilometres northwest of Whitehorse, in the west, central Yukon Territory.  The property comprises 161 mineral claims.  Porphyry copper mineralization was first recognized at Casino in 1967. 

From 1967-1990 various companies drilled 57 holes (12,294 metres) and 33 reverse circulation holes (5,188 metres).  In 1991, Archer Cathro acquired the property and completed a 21-hole diamond-drilling program.  In 1992 Pacific Sentinel Gold Corp. acquired the property from Archer Cathro and commenced a major exploration program.  From 1992 until 1995 work included surface soil sampling, trenching investigations and 236 diamond drill holes totaling 73,084 metres.

The current NI 43-101 compliant Mineral Resource estimate for the Casino deposit is

Redstone Project

The Redstone copper property is located approximately 200 kilometres south west of Norman Wells in the Nahanni Mining District, Northwest Territories.  The property is comprised of five mining leases (5,662 hectares/ 13,990 acres) and 55 mineral claims (29,562 hectares/ 73,018 acres) in the Redstone copper belt and spans an area from Coates Lake in the south to the Keele River 150 kilometres to the north.

The current independent NI 43-101 compliant Mineral Resource Estimate for the Coates Lake Project, at a 3.00% copper cut-off grade is:

Project  Sierra Almoloya, Mexico

Sierra Almoloya is an early stage silver-gold-lead-zinc property in the Central Mexican Silver Belt, Mexico.

In July 2005, Queenston Mining and Western Silver Corporation announced that they had entered into a Letter of Intent to explore a large Carbonate Replacement Deposit (CRD) property at Sierra Almoloya.

Queenston Mining Inc is actively exploring the property and can earn a 60 per cent interest through staged exploration expenditures of $1.5 M over four years. At production, Western Copper can elect either a 25% participating interest or a 15% carried interest.

In early May 2006, a 3,300 meter diamond drill program commenced by Queenston. To date, six holes have been completed in the area of the large scale scoping study targeting two areas on the property (Herradura and Cigarrero) where coincident geophysical-geochemical anomalies occur, in the vicinity of previous mineral showings and historic mine workings. Logging and sampling of the drill core is in progress and it is reported that a number of oxide mineralized zones have been intersected.

Recent Developments: Western Copper Corporation: Drilling Commences at Hushamu

Western Copper Corp announce that the first phase of the 2007 drilling program at the Hushumu property commenced on Thursday, February 15, 2007.

A total of 5000 m of diamond drilling is planned in the North West Expo and other exploration areas on the Hushamu property on Vancouver Island, British Columbia.  

Fundamental Considerations

Trough the acquisition of Lumina Resources, Western Copper has received the following 43-101 compliant resources:

The 43-101 compliant resource has an approximate market value of USD 450 per fully diluted outstanding share.

The company possesses about 68 million ounces of AuEq. which is a market cap of  $ 1.50 per  fully diluted outstanding share – not very high by any measure.

The company has proven management for sure.

Technical Considerations

Peter Zihlmann

www.pzim.com

invest@pzim.ch

+41 44 268 51 10

+41 79 379 51 57

THE TIMELESS PRECIOUS METAL FUND

is a shareholder in the company and will benefit from any increase in the company’s share price.

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Disclosure: The author has not been paid to write this article, nor has he received any other inducement to do so. The author is a shareholder in the company and will benefit from any increase in the company’s share price.

Disclaimer: The author’s objective in writing this article is to invoke an interest on the part of potential investors in this stock to the point where they are encouraged to conduct their own further diligent research. Neither  the information nor the opinions expressed should be construed as a solicitation to buy or sell this stock. Investors are recommended to obtain the advice of a qualified investment advisor before entering into any transactions in the stock.

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