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Western GeoPower Corp. (WGP)

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Friday 30 January, 2009

Western GeoPower Corp.

WESTERN GEOPOWER EXTENDS REPAYMENT DATE FOR PRO...



Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this 
announcement. 
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DATE:  January 30, 2009
                        FOR IMMEDIATE RELEASE


  TRADING SYMBOLS:    TSX-V (CANADA): WGP.V        FRANKFURT: WE6.F


    WESTERN GEOPOWER EXTENDS REPAYMENT DATE FOR PROMISSORY NOTES
VANCOUVER, Canada,  January 30,  2009, TSX  Venture Exchange  Trading
Symbol: WGP -  Western GeoPower  Corp., a  renewable energy  company,
today  announced  that  Kenneth  MacLeod,  the  President  and  Chief
Executive Officer of the company, has agreed to extend the  repayment
date for $400,000  in promissory  notes owed  by the  Company to  Mr.
MacLeod.  The promissory notes will  now be repayable in December  of
2010 subject  to early  repayment in  the event  of a  default.   The
promissory notes will now  mature at the same  date as the  Company's
US$11 million Secured Loan Facility as announced November 10,  2008.
In consideration for  agreeing to  extend the repayment  date of  the
promissory notes, the company  will, subject to  the approval of  the
TSX Venture Exchange, issue to Mr. MacLeod, 592,593 common shares  of
the company.  The common shares will be subject to a four month  hold
period from their date of issuance.
.
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"
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.   This news release is  not
for dissemination in the United States of America or to United States
of America news services.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. For more information or to be
put on our email list, please contact our office: (604) 662-3338 or
US/Canada Toll Free: 1-866-662-3322, email: [email protected] Investor
Relations: [email protected]


 
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Western GeoPower Corp.
837 West Hastings Street Suite 411 Vancouver, 
BC<br>V6C 3N6 Canada

WKN: 254049; ISIN: CA95827Q1037; 
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