TORONTO, ONTARIO--(Marketwire - June 11, 2008) - WSR Gold Inc. (TSX VENTURE:WSR) WSR Gold Inc. announces that it has granted a total of 4,475,000 options to directors, officers and consultants of the Company exercisable over a five-year period expiring June 11th, 2013, at a price of $0.80 per share. The grant is subject to regulatory and shareholder approval.
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 kilometres (52,980 acres) (see press release dated March 26, 2008).
WSR has agreed to acquire a 35% interest 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 announce Volcanic Derived Sulphides (VDS) to the north, east and south.
Shares Outstanding: 112,085,708
FOR FURTHER INFORMATION PLEASE CONTACT:
WSR Gold Inc.
President and Chief Executive Officer
(416) 628-5911 (FAX)