WSR Gold Inc.

WSR Gold Inc.

October 18, 2007 11:22 ET

WSR Gold Inc. Announces $1.4 Million Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Oct. 18, 2007) -


WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") is pleased to announce that it proposes to complete a non-brokered private placement pursuant to which it will issue up to 8,000,000 units ("Units") at a price of $0.24 per Unit to raise aggregate gross proceeds of up to $1,800,000. Each Unit will consist of one common share of WSR and one-half of one common share purchase warrant (each whole such warrant, a "Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one additional common share of WSR at an exercise price of $0.35 per share for a period of 12 months from the date of issuance thereof.

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 Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuala, Suriname, French Guyana and Northern Brazil. 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.. 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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