West Timmins Mining Inc. TSX: WTM

West Timmins Mining Announces First Closing of Private Placement at $2.5 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2009) -

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West Timmins Mining Inc. (TSX:WTM) (the "Company") announced today that it has closed the first tranche of a brokered private placement announced on January 13, 2009 with Canaccord Capital Corporation ("Canaccord" or the "Agent") consisting of 5,137,065 units (the "Units") at a price of $0.50 per Unit for gross proceeds of CDN$2,568,533 (the "Offering").

Each Unit consists of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to subscribe for one additional common share at a price of $0.65 for a period of 18 months from the date of closing. This first closing includes partial exercise of the overallotment option granted to the Agent.

The net proceeds raised from the Offering will be used for exploration and development of the Company's mineral properties in Canada and Mexico and for general working capital purposes.

The Agents have been paid a cash fee equal to 5.8% of the gross proceeds raised and have been granted broker warrants equal to 5.8% of the Units issued. The broker warrants are exercisable at a price of $0.65 per share for a period of 18 months from the date of closing. The Agents have also been paid a corporate finance fee consisting of 50,000 Units.

All securities issued under the Offering will be subject to a standard four month hold period from the date of closing.

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