WSM Western Standard Metals Ltd

Terraco Gold Corp. (TSX VENTURE:TEN) ("Terraco" or the "Company") and Western
Standard Metals Ltd. (TSX VENTURE:WSM) ("Western") are pleased to announce the
completion of the previously announced plan of arrangement (the "Arrangement")
for the merger of Western and Terraco. Effective at 12:01 am on January 25,
2011, Western will become a wholly-owned subsidiary of Terraco. 


Shares of Western will be delisted from the TSX Venture Exchange. Terraco's
common shares continue to trade on the TSX Venture Exchange under the symbol
"TEN". 


Under the terms of the Arrangement, Western's shareholders received 0.75 of a
Terraco common share in exchange for each Western common share held, and Western
warrantholders received 0.50 of a common share purchase warrant of Terraco for
each Western warrant held. In accordance with their terms, the outstanding
options to purchase Western shares have been adjusted so that, upon exercise,
for each Western share that would previously have been issued, the optionholder
will receive 0.75 of a common share of Terraco. In addition, the Company
welcomes Mr. Zahir Dhanani to its Board of Directors as part of the Arrangement.


In order to receive the Terraco common shares and warrants to which they are
entitled, former holders of Western shares and warrants must complete and return
to Computershare Investor Services Inc., a letter of transmittal together with
the certificates representing their Western shares and Western warrants. For
further details, please refer to the Western information circular dated December
17, 2010, which is available on Western's profile on SEDAR at www.sedar.com.


Further details regarding Terraco or Western and the details of the Arrangement
can be obtained through www.sedar.com. Full details of the merger of Western and
Terraco are disclosed in Terraco's news releases available on SEDAR. A
presentation of the combined companies can be accessed at Terraco's website at
www.terracogold.com.


About Terraco Gold Corp.

Terraco is a junior exploration company. Its Almaden Project in Idaho is an
advanced-stage gold project with upside potential. Terraco's Moonlight Project
in Nevada adjoins the Barrick Gold Corp./Midway Gold Corp. Spring Valley joint
venture.


No securities regulatory authority has either approved or disapproved of the
contents of this news release. This news release is for information purposes
only.


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. 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
Terraco and Western 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 Terraco and Western do
not assume any obligation to update or revise them to reflect new events or
circumstances.

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