Western Standard Metals Receives Court Approval for Merger with Terraco Gold

Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") and Western
Standard Metals Ltd. (TSX VENTURE:WSM) ("Western") are pleased to announce that
Western has received final approval from the Supreme Court of British Columbia
regarding the previously announced plan of arrangement (the "Arrangement") to
merge with Terraco.


The Arrangement remains subject to certain conditions, including the final
approval of the TSX Venture Exchange. Completion of the Arrangement is expected
to occur on or shortly after January 22, 2011.


Further details regarding the terms of the Arrangement are set out in the
management information circular of Western (the "Circular") issued in connection
with its meeting held on January 18, 2011, at which securityholders approved the
Arrangement. The Circular is available on Western's profile on SEDAR at
www.sedar.com.


Forward-Looking Statements

This release contains "forward-looking statements" which reflect the current
expectations of Terraco and Western. These statements reflect managements'
current beliefs with respect to future events and are based on information
currently available to management of Terraco and Western. 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, Terraco
and Western cannot assure investors that actual results, performance or
achievements will be consistent with these forward-looking statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. These forward-looking statements are made as of the date of this
release and Terraco and Western do not assume any obligation to update or revise
them to reflect new events or circumstances.