TORONTO, ONTARIO--(Marketwire - Sept. 8, 2008) - WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") is pleased to announce the appointment of Mike Kilbourne, P.Geo, as Vice President of Exploration. Mr. Kilbourne graduated from the University of Western Ontario in 1985 with a BSc. Mr. Kilbourne has extensive experience in exploration for base and precious metals with various companies across Canada until 1991 and then continued his career as an open pit and underground geologist through to 1996 at the Pamour #1 Mine. During the last year, Mr. Kilbourne was the Project Manager for Billiken Management involved with Noront Resources on the 'Ring of Fire' discoveries in the James Bay Lowlands, Ontario.
John Tait, President and CEO said, "WSR is pleased to welcome Mike to its exploration team and we are excited about our current and upcoming programs in James Bay under Mike's supervision."
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 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 has entered into an agreement with Metalex Ventures Ltd. (TSX VENTURE:MTX) and Arctic Star Diamond Corp. whereby WSR 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 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: 111,515,983
To view a map of WSR Gold Inc.'s McFaulds Lake Area Property Holdings, please visit the following link: http://media3.marketwire.com/docs/WSRmap908.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
WSR Gold Inc.
President and Chief Executive Officer
(416) 628-5911 (FAX)