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Message: Westcore to Launch Major Winter Drill Program
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 01/23/12 -- WESTCORE ENERGY LTD. - (TSX VENTURE:WTR) ("Westcore" or the "Company") is pleased to announce the upcoming launch of its winter drill program on the Black Diamond and FNR JV projects located near The Pas, Manitoba.

All contractors have been engaged and governmental work permits have been granted authorizing Westcore to drill a maximum of 58 boreholes for up to 8,700 metres on its properties in Manitoba. Winter ice road construction to all targets is underway with drilling anticipated to start in early February.

The winter program has two primary objectives. The first is to delineate previously identified deposits with an aim of incorporating the results into a resource report in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The second is to explore to test several new geophysical anomalies identified from interpretations of both the 2010 and 2011 airborne surveys.

Black Diamond Property MB

Extensive delineation drilling is planned for incorporation into a NI 43-101 report on the Calypso, Athena, Ambit, Cyclops and Discovery deposits at Black Diamond. The Company also plans to conduct exploratory drilling on two new targets with significant geophysical anomalies. In total; it is anticipated that the Company will drill between 30 and 38 holes on this property for a total of approximately 3,600 metres.

FNR JV Property MB

The drill program for the FNR JV program is to complete delineation drilling on the Quasar deposit for incorporation into a NI 43-101 report. Drilling is also planned to explore a large new target with similar geophysical characteristics to deposits on Westcore's Black Diamond properties. The Company anticipates completing between 15 and 20 holes for a total of approximately 2,200 metres of drilling.

Hudson Bay North SK

The Company continues to analyze potential drill targets on the Hudson Bay North property. Targets will be modified based on the success of drilling similar targets on its properties in Manitoba. Westcore has received approval from the Government of Saskatchewan to carry out a 20 hole drill program within the next fifteen months.

Paul Conroy, President and CEO of Westcore states "We are very excited to announce our 2012 winter drilling program. This program was carefully planned to be both cost effective and to give the best possible chance of success at achieving our stated objectives with existing capital. We look forward to providing further updates at regular intervals in the coming weeks detailing our progress."

Reader Advisory

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, the use of the net proceeds of the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

To view the map associated with this release, please see the following link: http://media3.marketwire.com/docs/123wtr_map.pdf

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Westcore Energy Ltd.
Paul Conroy
President and Chief Executive Officer
(306) 649-0600

Source: Marketwire (January 23, 2012 - 12:56 PM EST)
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