WSR Gold Inc.
TSX VENTURE : WSR

WSR Gold Inc.

November 08, 2007 16:06 ET

WSR Gold Inc. Announces Revised Terms of Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2007) -

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WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") announced today that it has revised the terms of its previously announced offering, as disclosed in a press release dated October 18, 2007. Accordingly, the previous offering will no longer proceed as originally announced, and WSR instead proposes to complete a non-brokered offering of (i) up to 4,200,000 flow-through units ("FT Units") at $0.35 per FT Unit, each such FT Unit consisting of one "flow-through" common share of WSR and one-half of one share purchase warrant, each whole such warrant entitling the holder thereof to acquire one additional common share of WSR (which shall not be a "flow-through" share) for a period of 12 months at an exercise price of $0.45 per share; and (ii) up to 3,800,000 units ("Units") at $0.33 per Unit, each such Unit consisting of one common share of WSR and one share purchase warrant entitling the holder thereof to acquire one additional common share of WSR for a period of 12 months at an exercise price of $0.45 per share.

The private placement remains subject to the approval of the TSX Venture Exchange.

About WSR

WSR is a Canadian based mineral exploration company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Peter's Mine Property is under option to WSR from Guyana Goldfields Inc. (TSX:GUY) and is on a significant deformation structure known as the Mango Trend. WSR can earn a 50% interest in the Peter's Mine Property by spending $5 million over 3 years. WSR can also earn a 50% interest in a McFauld's Lake Project as per an option agreement with Noront Resources Limited (TSX VENTURE:NOT), (please 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 discovery. The common shares of WSR trade on the TSX Venture Exchange under the symbol "WSR".

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 availability 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.

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

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