MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd.

March 17, 2008 08:50 ET

Definitive agreement executed for the Big Mac Property, James Bay Lowland

TORONTO, ONTARIO--(Marketwire - March 17, 2008) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines") and WSR Gold Inc. (TSX VENTURE:WSR) ("WSR"), announced today that they have executed the definitive agreement pursuant to their press release dated February 15, 2008, on the Big Mac Properties ("Properties") whereby WSR has an option to acquire up to 75% beneficial interest in the Claims by:

1. Spending $2.5 million on the property over two years;

2. Issuing to MacDonald 5,000,000 common shares of WSR;

3. Paying MacDonald $100,000; and

4. Issuing MacDonald 1,000,000 share purchase warrants of WSR, each full warrant is exercisable into one common shares of WSR within two years from the date of the agreement at $0.50 per warrant.

MacDonald Mines shall have a carried interest until WSR delivers a prefeasibility study to MacDonald Mines on the Big Mac Property. After the delivery of a pre feasibility study, MacDonald Mines will be required to pay a pro rata portion of costs related to the property to maintain its 25% interest.

The definitive agreement is subject to standard conditions including the approval of the TSX Venture Exchange with respect to each of WSR and MacDonald Mines.

About MacDonald Mines

MacDonald Mines is a TSX-Venture listed, Canadian exploration company with a deep established history in the exploration of gold and base metals. MacDonald Mines has set upon a strategic direction of exploration in the Central Canada Northlands, and currently has a focus in the Sachigo Greenstone Belt in the James Bay Lowlands. With a sizeable land position of 271 Claim Blocks (3982 Claim Units), totaling over 63,700 hectares, the Company has positioned itself as a value play in the Webequie/McFauld's Lake exploration area.

About WSR

WSR is a Canadian based mineral exploration company. WSR can earn a 50% interest in a McFauld's Lake Project pursuant to an option agreement with Noront Resources Limited (TSX VENTURE:NOT) (see press release dated November 1, 2007). The area will include 15 Claim Blocks, approximately 4,400 hectares (9,600 acres) in the Ring of Fire, McFauld's Lake, Ontario near Noront's prolific nickel copper and Platinum Group Metals discovery. The common shares of WSR trade on the TSX Venture Exchange under the symbol "WSR". And, WSR has agreed to acquire a 75% legal and beneficial interest in the Big Mac Property from MacDonald Mines consisting of 51 Claim Blocks, approximately 27,660 acres.

Forward looking statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of WSR, including but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the unavailability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and as such, undue reliance should not be placed on forward-looking statements.

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