Terraco Gold and Western Standard Execute Definitive Agreement

Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") and Western
Standard Metals Ltd. (TSX VENTURE:WSM) ("Western") are pleased to announce that
the companies have executed a definitive arrangement agreement (the "Agreement")
to complete the previously announced transaction pursuant to which Terraco will
acquire all of the outstanding securities of Western (the "Arrangement"). For
details of the proposed Arrangement, please see the joint news release dated
November 1, 2010 which is filed on SEDAR at www.sedar.com.


The execution of the Agreement clears the way for Western securityholders to
vote on and approve the merger at a special meeting of securityholders to be
held in January, 2011, with the closing of the Arrangement occurring shortly
thereafter. Concurrently with the execution of the Agreement, each of the
directors and officers and certain shareholders of Western, holding in total
approximately 25% of the current issued and outstanding share capital of
Western, executed support agreements pursuant to which they agreed to vote their
Western shares in favour of the Arrangement. Completion of the Arrangement
remains subject to a number of conditions including, but not limited to, receipt
of all regulatory, court and shareholder approvals. 


About Terraco:

Terraco (TSX VENTURE:TEN) is a junior exploration company with exploration
properties in Nevada, USA. Terraco's Moonlight property adjoins the Barrick Gold
Corp. / Midway Gold Corp. Spring Valley joint venture.


About Western: 

Western (TSX VENTURE:WSM) is a Canadian based company with a focus on
acquisition, exploration and development of gold properties in North America.
Western recently acquired a 100% interest in the Almaden Gold Project in Idaho.


Forward-Looking Statements

This release contains "forward-looking statements" which reflect the current
expectations of the companies. These statements reflect managements' current
beliefs with respect to future events and are based on information currently
available to management. Forward-looking statements involve significant known
and unknown risks, uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to be materially different from any
future results, performance or achievements that may be expressed or implied by
such forward-looking statements. Should assumptions underlying the
forward-looking statements prove incorrect, actual results, performance or
achievements could vary materially from those expressed or implied by the
forward-looking statements contained in this release. Although the
forward-looking statements contained in this release are based upon what the
companies believe to be reasonable assumptions, the companies cannot assure
investors that actual results, performance or achievements will be consistent
with these forward-looking statements. These forward-looking statements are made
as of the date of this release and the companies do not assume any obligation to
update or revise them to reflect new events or circumstances.