WSR Gold Inc.
TSX VENTURE : WSR

WSR Gold Inc.

March 26, 2008 12:30 ET

Metalex, Arctic Star and WSR Gold Execute Definitive Agreement for "Ring of Fire" Properties

TORONTO, ONTARIO--(Marketwire - March 26, 2008) - Metalex Ventures Ltd. (TSX VENTURE:MTX) ("Metalex"), WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") and Arctic Star Resources Inc. (TSX VENTURE:ADD) ("Arctic Star") announced today that they have executed the definitive agreement pursuant to their press release dated November 26, 2007, on their James Bay Lowland Claims ("Claims") whereby WSR can earn up to a 50% beneficial interest in the Claims by spending up to $20 million over 4 years on the Claims.

Under the terms of the definitive agreement, WSR has the right to earn up to a 50% interest in the Claims by funding CDN$20.0 million in expenditures on the Property over a 4 year period. For each CDN$5.0 million in expenditures incurred by WSR on the Claims, WSR will acquire a 12.5% interest in the Claims, up to a maximum 50% interest. Currently the claims are owned by a 91.5% Metalex: 8.5% Arctic Star joint venture. Upon the exercise by WSR of its option to acquire its first 12.5% interest in the Claims, the parties shall form a joint venture, during which period a management committee will be formed to approve programs and budgets concerning the Claims. Once WSR has earned its 50% interest, or has elected to no longer sole fund exploration then the joint venture partners will fund the approved budgets pro rata in accordance with their respective interests, or be subject to dilution.

The Claims are strategically located on and around the "Ring of Fire", James Bay, Ontario. Additional staking has taken place since the original press release (November 26, 2007) and the Claims now cover approximately 214.4 square kilometres (52,980 acres).

An airborne electromagnetic and magnetic survey over the Claims is now underway. Preliminary results from a portion of the survey show several conductors in the vicinity of magnetic anomalies have been detected. These geophysical anomalies are similar to those of Noront's recent Eagle One and Eagle Two discoveries.

The transaction remains subject to the approval of the TSX Venture Exchange.

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. 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. The common shares of WSR trade on the TSX Venture Exchange under the symbol "WSR".

About Metalex

Metalex is a Canadian exploration company primarily focused on diamonds. Metalex has a global portfolio of diamond projects ranging from advanced stages of exploration to grass roots including projects in Ontario, Quebec, Morocco, Angola and Brazil (subject to regulatory approval). The common shares of Metalex trade on the TSX Venture Exchange under the symbol "MTX".

About Arctic Star

Arctic Star Diamond Corp. (TSX VENTURE:ADD) is a dynamic Canadian diamond exploration company. Arctic is aggressively developing several projects Northern Canada and Ontario. Arctic's primary focus is our Credit Lake property, located in the Northwest Territories.

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.

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

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