WSR Gold Inc.
TSX VENTURE : WSR

WSR Gold Inc.

June 16, 2008 10:03 ET

WSR-Metalex-Arctic Star Joint Venture Intersects 131.9 Meters of Semi-Massive to Near-Massive Sulphides in Hole 5.01-09, Under Hole 5.01-06, on Anomaly 5.01, James Bay Lowlands, Ontario

TORONTO, ONTARIO--(Marketwire - June 16, 2008) - WSR Gold Inc. (TSX VENTURE:WSR), Metalex Ventures Ltd. (TSX VENTURE:MTX) ("Metalex"), and Arctic Star Diamond Corp.'s (TSX VENTURE:ADD) ("Arctic Star") Joint Venture Project along the Ring of Fire, 45 kilometers North of Noront Resources Limited's ("Noront") Eagle One Discovery encountered another significant width of Volcanic Derived Sulphides (VDS) mineralization in hole number 5.01-09. The property consisting of 160 acres is under option by WSR, whereby WSR can earn up to a 50% interest in the property. Within the option agreement covering approximately 21,400 hectares, there are numerous other high priority targets throughout the area.

To date, on the 5.01 discovery 10 holes have been completed totalling 1,903.5 meters. Hole 5.01-06, reported in a previous press release dated June 4, 2008 on Section 1+50 East was followed by three additional holes on the same section. Hole 5.01-10 was a 50 meter step out east of 5.01-09 on Section 2+00 East. The zone dips steeply north below the Precambrian surface which is overlain by approximately 15 - 20 meters of gravel and Paleozoic sedimentary cover. The VDS mineralization has been delineated thus far on sections 1+00 East and 1+50 East (50 meters apart) down to a vertical depth of 200 meters. On a 3rd section (2+00 East) the first hole completed (5.10-10) failed to intersect the zone at its targeted vertical depth of 150 meters.

Hole number 5.01-07 was drilled in a southeasterly direction to check for a north easterly - south westerly strike direction and encountered only minor iron sulphide mineralization.

Hole number 5.01-08 drilled southerly, across the assumed east - west strike direction encountered only sparse mineralization at shallow depths over the top of the main mineralization.

Hole number 5.01-09 drilled southerly, 50 meters down dip below hole 5.01-08 encountered the main zone from 103.5 meters to 235.4 meters (131.9 meters in total) in the drill hole and is similar in visible sulphide content to Hole number 5.01-06.

Hole number 5.01-10, a 50 meter step out to the east of hole 5.01-09 and along strike intersected only minor sulphides.

Hole number 5.01-11 currently drilling is designed to test for the main mineralization down the steep easterly plunge, 50 meters below hole 5.01-10 on the same north - south cross section (2+00 East).

The following table summarizes the recent drilling on 5.01 with significant visual sulphide mineralization:



----------------------------------------------------------------------------
Location Hole Mineralization Visual
------------------------------------------------------------- Description
Hole No E.ing N.ing Dip Az EoH From To Width of
------------------------------------------------------------- Mineralization
meters meters meters
----------------------------------------------------------------------------
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Minor
5.01-07 1+50E 0+50N -45 135 165.0 52.4 118.5 66.1 iron sulphides
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Minor
5.01-08 1+50E 0+50N -45 180 140.2 25.9 35.4 9.5 iron sulphides
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Minor iron,
copper
5.01-09 1+50E 0+00N -60 180 249.7 42.0 103.5 61.5 sulphides
----------------------------------------------------------------------------
Semi-massive,
iron, copper,
103.5 154.0 50.5 zinc sulphides
----------------------------------------------------------------------------
Iron, copper,
154.0 183.8 29.8 zinc sulphides
----------------------------------------------------------------------------
Semi-massive
iron, copper,
183.8 201.2 17.4 zinc sulphides
----------------------------------------------------------------------------
Near-massive
iron, copper
201.2 235.4 34.2 sulphides
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Minor
5.01-10 2+00E 0+50N -65 180 280.5 131.7 235.1 93.4 iron sulphides
----------------------------------------------------------------------------


The anomaly 5.01 Project is managed and operated by Metalex for the Joint Venture partners under supervision of Dr. Charles Fipke, Chairman of Metalex. Dr. Fipke and John Harvey, P.Eng, a consulting geologist for WSR, prepared this release.

WSR believes that the recent drill hole results, with the presence of visible copper, zinc and lead sulphides being observed on site by the project's geologist are very encouraging and could be of significant importance to the Joint Venture Partners if the assay results pending are favourable. Notwithstanding the foregoing, visible observations are estimates only and pending assay results may not confirm visual observations in whole or in part. The widths given above are core widths only and do not represent true widths which cannot be determined at this time.

John Archibald, P.Eng. and a Qualified Person, has reviewed the drill core and confirms the visual descriptions described herein. Assay results are pending for all holes completed to date.

About WSR

WSR is a Canadian based mineral exploration company with extensive property holdings strategically located on and around the nickel/copper "Ring of Fire" in northern Ontario near James Bay.

WSR has entered into an agreement with Metalex Arctic Star whereby WSR has the right to fund a maximum of $20.0 million in expenditures on the James Bay Properties Property over a 4 year period to earn a maximum 50% interest. The James Bay Properties comprise approximately 214.4 square kilometers (52,980 acres) (see press release dated March 26, 2008).

WSR can earn a 50% interest in the McFauld's Lake Property pursuant to an option agreement with Noront Resources Ltd. (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.

WSR has agreed to acquire a 75% interest in the Big Mac Property from MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) consisting of 51 Claim Blocks, approximately 27,660 acres (see press release dated February 15, 2008).

WSR and Noront have agreed to earn a 35% interest each in the Luc Bourdon Prospect from Golden Valley Mines Ltd. (TSX VENTURE:GZZ) consisting of approximately 9,000 hectares (see press release dated June 6, 2008). The Luc Bourdon Prospect surrounds the recently announced Volcanic Derived Sulphide (VDS) Mineralization by Metalex and WSR to the north, east and south.

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.

Shares Outstanding: 112,085,708

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

Contact Information