Western Pacific Undertakes $2.0 Million Financing

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, April 26, 2013 /CNW/ - Western Pacific Resources Corp. (the "Company") - (WRP: TSXV) is pleased to announce that it is undertaking a non-brokered private placement financing of up to 13,333,333 units at $0.15 per unit, for proceeds of up to $2.0 million.  Each unit will consist of one common share of the Company and one warrant entitling the holder to purchase one additional common share at $0.20 for 18 months from closing.

If at any time from four months and one day after the closing of the financing, the volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange over a period of 15 consecutive trading days exceeds $0.40, the Company may, within 30 days after such an event, provide notice to the warrant holders that the warrants will expire early, namely, on the date which is 30 days after the date of such notice to the warrant holders.

The Company may pay finder's fees on a portion of the financing equal to 7% of subscription amounts found, payable in cash or units, plus issue finder's warrants in an amount equal to 7% of units purchased.  Each finder's warrant will be exercisable into one common share of the Company at a price of $0.20 for 18 months from closing.

The net proceeds of the placement will be used to advance the Company's projects (principally the Deer Trail Mine, Piute County, Utah following closing of the acquisition) and for general working capital purposes.

Closing of the private placement is subject to TSX Venture Exchange acceptance. All of the securities issued in connection with the private placement will be subject to a four month hold period.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of such Act. This news release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Western Pacific

Western is focused on advancing a strong portfolio of advanced-stage projects in the Western United States. Western is expecting to close the acquisition of the Deer Trail Mine, Piute County, Utah, on or before May 24, 2013.  Western's team is led by technical and financial experts who aim to succeed in creating shareholder value.  For more information, please visit our website at www.westernpacificresources.com.

ON BEHALF OF THE BOARD

Warwick Smith, Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation.  The ability of the Company to successfully complete the private placement is subject to various risks as well as factors beyond the Company's control, including the state of capital markets. As well, the ability of the Company to complete the Deer Trail Mine acquisition on time or at all is subject to various risks and other factors.  Risks and factors that may cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.  The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Western Pacific Resources Corp.