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Amendments to Exercise of Options, Warrents & Promissory Notes

ANNOUNCES FINALIZATION OF AMENDMENTS TO THE EXERCISE PRICE OF OPTIONS, WARRANTS AND PROMISSORY NOTES

Calgary, Alberta (TSX Venture: WMI), November 12, 2008 - Whetstone Minerals Inc. ("Whetstone" or the "Company") On October 27, 2008, Whetstone announced the approval by the shareholders of the Company of a consolidation (the "Consolidation") of the common shares of the Company and the amendment to (i) the exercise price ("Exercise Price") of the options and certain warrants of the Company; and (ii) the conversion price ("Conversion Price") of $1,000,000 principal amount of unsecured convertible promissory notes of the Company ("Notes"), as more particularly described in the Company's information circular and proxy statement provided to shareholders in connection with Whetstone's annual and special meeting of shareholders held on October 24, 2008.

Further to Whetstone's prior announcement, Whetstone announced today that the Exercise Price and the Conversion Price have been amended to $0.10 per common share.

Whetstone has 14,860,171 common shares issued and outstanding. In addition, Whetstone has the following convertible securities outstanding: (i) options to purchase an aggregate of 726,000 common shares at an exercise price of $0.10 per share; (ii) warrants to purchase an aggregate of 3,303,143 common shares at an exercise price of $0.10 per share; (iii) warrants to purchase an aggregate of 220,002 common shares at an exercise price of $1.24 per share; and (iv) Notes convertible into an aggregate of 11,449,000 common shares on or before November 28, 2008.

About Whetstone Minerals Inc.: Whetstone is a Calgary-based, multi-commodity, mineral exploration company with 100% ownership of properties in Northwestern Ontario and Northern Manitoba. Whetstone's website address is www.whetstoneminerals.com.

For further information please contact:

Whetstone Minerals Inc. Paul Nagerl, President and Chief Executive Officer

Phone: (403) 543-2585

Fax: (403) 543-2599

Email: pnagerl@whetstoneminerals.com

To be added to Whetstone's private email list, please contact info@whetstoneminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.