WMT Corporate Update and Capital Spending Plan for China

West Mountain Capital Corp. ("the Company" or "WMT") (TSX VENTURE:WMT) is
providing the following corporate update on its business activities in China as
well as guidance respecting its anticipated capital requirements and capital
plans for the next two years, namely 2013 and 2014. 


The Company has entered into a number of agreements that have positioned it for
growth in China in the areas of contaminated soil treatment and the recovery of
oil from oily sludge waste. A summary of these agreements follows.




--  Nanjing - An Agreement of Strategic Cooperation with the Nanjing
    Institute of Environmental Science (the "Nanjing Agreement") for the
    treatment of contaminated soil throughout China. Under this agreement
    the parties constructed a TPS soil treatment unit that was completed in
    June 2012 having an annual contaminated soil treatment capacity of
    30,000 tonnes. The Company plans to increase its TPS soil treatment
    fleet in 2013 by fabricating additional TPS units to add 120,000 tonnes
    annually of soil treatment capacity. In 2014 the Company plans to
    fabricate additional TPS units to add a further 300,000 tonnes of annual
    treatment capacity. By 2015 the Company plans to have 450,000 tonnes of
    annual soil treatment capacity in China. 
    
--  Hangzhou - A subcontract with Hangzhou Dadi Environmental Co. Ltd. to
    treat 33,000 tonnes of pesticide-contaminated soil in Hangzhou, China as
    a commercial demonstration of the TPS technology. The treatment of the
    contaminated soil commenced in December 2012 using the first TPS unit
    constructed under the Nanjing Agreement. This TPS unit is presently
    processing under steady state conditions and regularly exceeds its rated
    daily treatment capacity by 10-15%. It is expected that the project will
    conclude on or about December 31, 2013. The revenue from this
    demonstration contract is approximately CDN$3.5 million. As this is a
    commercial demonstration contract revenues and margins will be less than
    normally expected for this type of project.  
    
--  Zhoushan - The Company is a 50:50 equity partner in a Sino-foreign joint
    venture company with Zhoushan Nahai Solid Waste Central Disposal Co.
    Ltd. ("Nahai") of Zhoushan, Zhejiang Province, China. The WMT-Nahai
    Joint Venture is designing, engineering, constructing and will operate
    an oily sludge waste recovery facility in Zhoushan, Zhejiang Province.
    This non-TPS facility will receive, process and recover oil from oily
    sludge waste generated from oil storage operations and oil tanker
    cleaning activities in that region. Construction of this facility is
    expected to be completed in Q3 2013 and will have an annual treatment
    capacity of 50,000 tonnes. At full capacity this facility has the
    potential to generate annual revenue of approximately US$15 million with
    20% EBIT. 
    
--  Changqing - A 10-year subcontract agreement with Liaoning Huafu
    Environmental Engineering Co. Ltd. to construct and operate a hazardous
    industrial sludge treatment facility in Changqing, China. Construction
    of the equipment and facility is expected to begin early in Q2 2013 and
    be completed and commence operations before the end of 2013. The
    Changqing facility will employ TPS technology and have an annual
    treatment capacity of 15,000 tonnes. The subcontract contemplates a
    broadening of the scope of operations to include an additional six (6)
    locations. The annual revenue potential of this sub-contract, including
    the revenue from the additional locations, is approximately US$16
    million with 25% EBIT. 



The Chinese environmental market increased from $72 billion in 2005 to $162
billion in 2011 (125% growth). The average expenditure growth was $32.5 billion
annually, or 1.5% of China's GDP for the respective years. Contaminated soil
remediation projects were listed among five vital projects of China's 12th
five-year plan for the period of 2011-2016, with the Chinese government
announcing in early 2011 its plan to invest approximately $3 billion in soil
investigation, remediation and improving regulations during that time. In
addition to the amounts invested directly by the Chinese government, and
according to the China Securities Journal, the estimated market value of soil
remediation projects undertaken in China is expected to reach US$6.36 billion
annually by 2015. As a result of growing demands, it is anticipated that the
treatment of contaminated soil and underground water will be one of the growth
drivers of China's 13th five-year plan (2016-2020).


It is estimated that there are over 600,000 contaminated sites in China and of
these, 300 contaminated sites have been prioritized for remediation within the
next 5 years. The average size of a contaminated site in China ranges between
100,000 - 150,000 tonnes of soil. This suggests a contaminated soil remediation
market of between 30 - 45 million tonnes over the next 5 years. The Company
currently has 30,000 tonnes of annual treatment capacity resident in China and
expects to increase its annual treatment capacity to 150,000 tonnes by 2014 and
to 450,000 tonnes by 2015.


Between 1991 and 2012, China's oil production expanded from about 2.2 million
barrels a day to 4.3 million barrels a day. In 2011, China ranked as the fifth
largest oil producer in the world and it is forecast that China's oil production
will grow to 4.5 million barrels per day by the end of 2013. Oily sludge is
generated by oil storage operations and oil tanker cleaning activities among
other activities, and is one of the main sources of pollution throughout China
with complex physical and chemical properties. As a result of increased oil
production, the demand for oily sludge treatment services have increased and are
anticipated to increase further in the coming years. Upon the completion of the
Zhoushan treatment facility, the Company's annual treatment capacity for oily
sludge in Zhoushan will be 50,000 tonnes. 


2013 - 2014 Capital Program

The Company will require additional capital over the next two years to increase
its fleet of TPS units and expand its treatment capacity for contaminated soil
and oily sludge as described above, and to meet its commitments under the joint
ventures and agreements described above. A summary of the capital expenditures
presently planned for the next two years are as follows:


2013 Capital Expenditures



--  US$6.7 million for the construction of TPS units to increase the
    Company's contaminated soil treatment capacity to 150,000 tonnes per
    year; 
    
--  US$1.0 million for the construction of a small TPS unit to support the
    hazardous industrial sludge treatment operations at the Changqing
    project; and 
    
--  US$1.3 million for completion of the oily sludge treatment facility in
    Zhoushan. 



2014 Capital Expenditures



--  US$16.0 million for the construction of TPS units to increase the
    Company's contaminated soil treatment capacity to 450,000 tonnes per
    year. 



Financing 

The Company plans to undertake multiple rounds of financing over the next 12
months to fund the cost of its China-based capital program. In particular,
William Blair & Company, an investment bank with offices both in the U.S. and
China, has been engaged to assist with the completion of one or more equity
issues for aggregate proceeds of up to US$25 million. In addition, WMT is
presently conducting a private placement of convertible debentures in Canada for
proceeds up to CDN$1.5 million that will be used for general corporate purposes.
Please refer to the Company's news release of February 21, 2013 for details of
this financing. 


About the West Mountain 

WMT is an established Canadian environmental solutions company specializing in
the thermal treatment of a variety of hazardous and non-hazardous waste streams.
It employs TPS Technology, a unique indirectly heated, closed loop technology
that allows it to extract even the most hazardous contaminants from soil,
industrial sludge, pharmaceutical waste and consumer waste streams converting
much of it into reusable oil and synthetic natural gas that it uses to sustain
the process. This methodology offers significant opportunity for greenhouse gas
reduction over traditional hazardous waste destruction technologies. WMT's
management team maintains expertise in hazardous waste management, Brownfield
remediation and pharmaceutical waste management with experience spanning North
America and 15 countries internationally. The Company will operate in China
through a wholly-owned foreign enterprise and has completed all the necessary
documentation to incorporate under the name Shanghai Phase Separation
Environmental Technology Co., Ltd. ("PS2").


About Nanjing institute: 

The Nanjing Institute of Environmental Sciences is a key technical provider for
policies, legislation, action plans and technical guidelines on biodiversity
conservation in China, with research areas in rural environmental protection,
nature conservation and biodiversity protection. NIES carries out research on
rural ecology, nature conservation, pollution prevention of township and village
enterprises and agriculture chemicals. NIES undertakes key national research
programs and scientific research projects on the rural environment and provides
scientific basis and technical support for the management of rural environments
and nature and ecological conservation while assisting in the formulation and
implementation of relevant policy and action plans.


About Dadi: 

Hangzhou Dadi Environmental Protection Engineering Co. Ltd. is a private hi-tech
environmental protection enterprise that specializes in remediation of
contaminated sites (including soil and groundwater). They have a professional
technical team composed of over 50 people, among which more than 50% have master
and doctor degrees who hold intermediate or senior titles. They have completed
more than 20 site investigation and remediation projects and more than 10
scientific research projects at the national, provincial and municipal level. 


About Nahai: 

Zhoushan Nahai Solid Waste Central Disposal Co. Ltd. is a private company and a
leader in the management of hazardous waste and oily sludge based in Zhoushan,
China. The company has excellent infrastructure including an oil storage
facility (2,500,000 tonnes), a waste oil recovery facility (capacity of
1,000,000 tonnes per year), bilge water treatment facility (20,000 tonnes per
day) and a solid waste destruction facility (20 tonnes per day). Nahai possesses
the only waste management treatment permit in Zhoushan and is strategically
located on the coast of the East China Sea with excellent accessibility to the
traditional oil shipping lanes. Zhoushan is an island port and tourist city
newly developed in China and is in the center of the fourth largest fishery in
the world.


About Huafu: 

Huafu Environmental Engineering Company is a division of the Liaoning Huafu
Group. The Company was established in 1992 specializing in R&D, consulting,
procurement, manufacturing, engineering and cooperative investment in the areas
of heavy oil recovery, wastewater treatment and energy conservation from
different industries. In addition to Huafu Environmental Engineering the group
includes Liaoning Huafu Petroleum Hi-tech Corp. Ltd, Liaoning Huafu-Andmir
Environment Equipment, Shandong Huafu Petroleum & Environmental, and the Panjin
Huafu LengJia Wastewater Treatment Plant. The Huafu Group has innovated and
developed some 300 different advanced products and technologies and hold over 50
registered patents in China for environmental equipment.


Forward-Looking Statements 

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this news release contains
forward-looking statements with respect to potential revenues and earnings from
projects located China, future deployments of the TPS technology, the Company's
capital expenditure plans for 2013 and 2014 and the completion of financings to
fund the planned capital expenditure program. The purpose of the forward-looking
statements and information is to provide readers with basic information
regarding the potential size of the contaminated soil treatment market and the
oily sludge waste recovery market in China and the potential participation by
WMT in these markets and may not be appropriate for other purposes. The
forward-looking statements and information are based on certain key expectations
and assumptions made by WMT, including expectations and assumptions concerning
the plan to be awarded contracts to treat such material and obtaining the
financing necessary to carry out its planned capital expenditure program.
Although WMT believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward looking statements and information
because WMT can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the Company's contracts for operations in China, the fabrication
of TPS soil treatment units, the availability of financing, the treatment of
hazardous industrial sludge in general, attempting to secure work, the
uncertainty of estimates and projections relating to the value of the contract,
health, safety and environmental risks, transportation costs, environmental
risks, failure to realize the anticipated benefits of the contract, failure to
obtain required regulatory and other approvals, and changes in legislation,
including but not limited to environmental regulations, and risks associated
with doing business in China. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and other factors
that could affect the Company's operations and financial results are included in
reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com). 


This forward-looking information represents the Company's views as of the date
of this news release and such information should not be relied upon as
representing its views as of any date subsequent to the date of this document.
The Company attempted to identify important factors that could cause actual
results, performance or achievements to vary from those current expectations or
estimates expressed or implied by the forward-looking information. However,
there may be other factors that cause results, performance or achievements not
to be as expected or estimated and that could cause actual results, performance
or achievements to differ materially from current expectations. There can be no
assurance that forward-looking information will prove to be accurate, as results
and future events could differ materially from those expected or estimated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking information. Except as required by law, the Company undertakes
no obligation to publicly update or revise any forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Mountain Capital Corp.
Mr. Paul Antle
President and CEO
709 726 0336
pantle@phaseparation.com
http://www.phaseparation.com
West Mountain Environmental (TSXV:WMT)
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