Terraco Gold and Western Standard Metals Provide Merger Update

Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") and Western
Standard Metals Ltd. (TSX VENTURE:WSM) ("Western") are pleased to announce an
update regarding the proposed merger to combine their respective companies. For
details of the proposed merger, please see the joint news releases dated
November 1 and December 7, 2010, respectively (the "Joint News Releases"), which
have been filed on SEDAR at www.sedar.com.


Western to Hold Securityholders' Meeting

Western announces that it received from the Supreme Court of BC on December 15,
2010 an interim order providing for the holding of a special meeting of
Western's securityholders to be held on January 18, 2011 at the offices of
Stikeman Elliott LLP, Suite 1700, 666 Burrard Street, Vancouver, BC, V6C 2X8, at
9:00 AM (Vancouver time) (the "Meeting"). A notice of the Meeting and record
date has been filed with the appropriate regulatory authorities and is available
on SEDAR.


The purpose of the Meeting is to consider for approval the proposed plan of
arrangement for the merger of Western and Terraco as outlined in the Joint News
Releases. It is anticipated that Meeting materials will be mailed on December
23, 2010 to registered and beneficial securityholders of record as at December
17, 2010. Meeting materials will be available on SEDAR at www.sedar.com
immediately following the mailing.


Terraco Files NI 43-101 Compliant Technical Report

Terraco is pleased to announce that it has filed a technical report, in
accordance with National Instrument 43-101, Standards of Disclosure for Mineral
Projects ("NI 43-101"), regarding its Moonlight Property. Mr. Charles Sulfrian,
CPG and Vice President, Exploration of Terraco, is the NI 43-101 qualified
person responsible for the preparation of the technical report. The report is
entitled "Technical Report on the Moonlight Property, Pershing County, Nevada"
and is dated December 15, 2010.


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 of the companies. 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.