"We made excellent progress in the second quarter after starting our remediation contract in Saskatchewan combined with the cost saving measures we made last year and into the first quarter," said Paul Antle, President and CEO. "These are very challenging times and we are now better positioned for improved conditions ahead. The results are a marked improvement over the same three month period last year with revenues increasing by $1.62 million. Also during the period the Company achieved its first operating profit due mainly to the volume of soil being processed and increased margins."

The Company is also pleased to announce that it has appointed Mr. Paul Coombs as its new Chief Financial Officer. "Mr. Coombs has a Bachelor of Commerce degree, C.M.A, C.G.A and MBA with 15 years experience in both public and private companies and will be a tremendous asset to the WMT management team," said Antle.

Highlights and milestones for the second quarter include:

- An EBITDA increase of $1.19 million over the same period in 2008;

- Earnings per share of $0.018;

- A net income of $639,003; and

- The completion of all on-site remediation activities for our Saskatchewan-based contract.

Selected Financial Data

This summary of selected unaudited and audited financial data should be read in conjunction with the Management Discussion and Analysis ("MD&A") and the unaudited and audited financial statements of the Corporation and related notes thereto, for the periods indicated.

                                     Three Months Ended  Three Months Ended
                                          June 30, 2009       June 30, 2008
                                    ----------------------------------------
Revenue                                       1,893,923             230,467
Net Income (Loss)                               639,003            (552,838)
Net Income (Loss) per share                       0.018              (0.016)
Total Shares Outstanding                     34,724,667          34,724,667


                                                      As at
                                          June 30, 2009   December 31, 2008
                                    ----------------------------------------
Cash                                            526,660             783,993
Working Capital                                 330,841             229,509
Total Assets                                  4,767,372           4,467,696
Long Term Liabilities                           238,923             725,701
Share Capital                                 6,935,817           6,935,817

About Phase Separation Solutions:

PS2 is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge and waste 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. PS2's management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and internationally throughout 14 countries.

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 in respect of the volume of soil to be processed by PS2 under its current contract in Western Canada and in general all soil volumes whether domestic or international from any source. The forward-looking statements and information are based on certain key expectations and assumptions made by West Mountain, including expectations and assumptions concerning the plan to remove and treat such material. Although West Mountain 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 West Mountain 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 removal and treatment of PCB contaminated materials 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. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE: West Mountain Capital Corp.

Phase Separation Solutions
Mr. Paul Antle
President and CEO
(709) 726-0336
Email: pantle@phaseparation.com
Website: www.phaseparation.com

Client funds are held by a third party custodian and titled in the client's name. The client maintains account ownership and has sole authority over account deposits and withdrawals. The custodian communicates with the CTA to execute trades and is responsible for client reporting including transaction and monthly statements. The custodian's role is similar to the role Charles Schwab or Fidelity Investments plays as custodian for a Registered Investment Advisor or independent financial planning firm overseeing traditional investments. The Foss Mountain Capital site offers a managed futures industry structure diagram.

What are the benefits of managed futures?

By their very nature, managed futures provide a diversified investment opportunity. Commodity Trading Advisors (CTAs) can participate in more than 150 global markets: from grains and gold to currencies and stock indices.

Potential to lower overall portfolio risk Opportunity to enhance overall portfolio returns Transparency and liquidity For a comprehensive overview of the benefits of managed futures (http://www.fossmountaincapital.com/Managed_Futures/Benefits_of_Managed_Futures.php), please view the details online.

Managed futures as an industry traces its roots back thirty years when the futures industry was dominated by agricultural markets. Futures trading was referred to as "commodity trading" and the name Commodity Trading Advisor was applied to professional money managers who managed client funds. Fast forward thirty years plus and the term Commodity Trading Advisor is a bit of a misnomer as benchmark futures and options products cover all major asset classes including interest rates, equities, FX, commodities and alternative investments such as weather and real estate.

What is the due diligence process for choosing Commodity Trading Advisors? The due diligence process typically begins with an analysis of returns and drawdowns and is a balancing act of seeking the greatest return with the least amount of risk. Statistical analysis includes a review of the manager's return distribution, historical drawdowns, margin usage, risk/reward ratios, fees and correlation studies. Qualitative analysis includes a review of management's background, organizational structure, trading strategy, potential conflicts of interest and much more. Foss Mountain Capital offers a comprehensive overview of the due diligence process (http://www.fossmountaincapital.com/Managed_Futures/CTA_Manager_Selection.php).

The goal of most CTAs is to manage their equity by managing their losses, putting them in position to capitalize on trending markets when they occur. Profitability may not happen over one month or one quarter, but rather over a longer time horizon. Investing in CTAs should not cause major anxiety but rather the potential to increase wealth with a reasonable amount of risk. Please note, there is a risk of loss in trading commodity futures and options.

Many alternative investments are available only to investors who can commit substantial assets under a lock up period. Managed futures are the exception, with high-quality managers available at low minimums. Braudis points out that, "a question to ask yourself is, 'What am I doing to potentially combat the under-performance of my more traditional investments?'"

For information on the customized managed futures absolute return commodity strategies, please visit Foss Mountain Capital (http://www.fossmountaincapital.com/Managed_Futures_Performance/Managed_Futures.php).

About Bernard Braudis and Foss Mountain Capital: Bernard Braudis is a Managing Member of Foss Mountain Capital, LLC, a wealth management firm specializing in absolute return commodity strategies. Foss Mountain Capital LLC is a member of the National Futures Association (NFA) and registered with the Commodity Futures Trading Commission (CFTC).

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