WSR Gold, partners complete phase 2 drilling at 5.01

2008-11-14 10:33 ET - News Release

See News Release (C-WSR) WSR Gold Inc

Mr. John Tait of WSR reports

METALEX-WSR-ARCTIC STAR 5.01 PROGRESS REPORT

WSR Gold Inc., Metalex Ventures Ltd. and Arctic Star Resources Inc.'s joint venture project, along the Ring of Fire in the James Bay Lowlands, are providing an update on exploration progress on Anomaly 5.01, located 45 kilometres north of Noront's Eagle One project.

The second phase of drilling at the 5.01 project is now complete and comprised 17 holes (DDH501-26 through DDH501-41, and DDH501-43) totalling 5,095.5 metres. To date, drilling on the 5.01 project totals 10,785.9 metres.

A summary for the phase 2 drilling program is presented in the table.

Hole No.       Local E   Local N     UTM e     UTM n   Azimuth       Dip    Length

DDH501-26       L1+80E     0+50N    522396   5901526       270       -49     198.0
DDH501-27       L1+80E     0+50N    522396   5901526       270       -77     163.5
DDH501-28       L1+37E     0+25N    522348   5901500       270       -45     108.0
DDH501-29       L2+35E      0+00    522433   5901475       270       -65     201.0
DDH501-30       L1+87E     0+50S    522399   5901425       270       -47     279.0
DDH501-31       L1+87E     0+50S    522399   5901425       270       -69     306.0
DDH501-32       L1+87E     0+50S    522399   5901425       270       -84     267.0
DDH501-33       L2+50E     0+75S    522460   5901400       270       -45     291.0
DDH501-34       L2+50E     0+75S    522460   5901400       270       -61     324.0
DDH501-35       L2+50E     0+75S    522460   5901400       270       -72     303.0
DDH501-36       L2+40E     1+25S    522456   5901344       270       -45     219.0
DDH501-37       L2+40E     1+25S    522456   5901344       270       -62     297.0
DDH501-38       L2+40E     1+25S    522456   5901344       270       -78     393.0
DDH501-39       L2+90E     1+75S    522510   5901300       270       -45     414.0
DDH501-40       L2+90E     1+75S    522510   5901300       270       -55     300.0
DDH501-41       L2+90E     1+75S    522510   5901300       270       -65     441.0
DDH501-43       L4+80E     0+25N    522690   5901500       270       -50     591.0  

Complete assay results have not yet been received since the news release in Stockwatch dated Sept. 10, 2008. Twenty-one batches totalling 719 samples have been sent to Actlabs from the phase 2 drilling program.

The massive-sulphide occurrence is still open up- and downdip in areas, as drill holes failed to close off the upper or lower plunge of the deposit. The strike length has been extended to almost 200 m, with a vertical depth extension of 275 m from a near-surface depth of about 10 m. The width of the zone still varies from three to 22 m, with an approximate average of 12 to 15 m.

Downhole electromagnetic geophysics, as well as additional airborne magnetic and electromagnetic geophysics on east-west flight lines, will be conducted over the 5.01 project claim. The results of these surveys, as well as additional ground geophysical work, should generate follow-up drill targets for February of 2009.

Mike Kilbourne is the qualified person responsible for the technical contents of this news release.

WSR Gold is pleased to announce the appointment of Chris Hodgson as director of WSR.

Mr. Hodgson entered provincial politics in 1994 and, following the 1995 general election, was appointed as Ontario's Minister of National Resources, and Minister of Northern Development and Mines. During his time as minister, Mr. Hodgson was recognized for creating new opportunities and growth within Ontario's mining industry, as he introduced and proclaimed a new Mining Act. Mr. Hodgson has served as the president of the Ontario Mining Association since October, 2004, has served as the president of Chris Hodgson Enterprises since 2000 and is currently serving as a trustee for the Brick Income Fund.

John Tait, president and chief executive officer, said, "WSR is pleased to welcome Mr. Hodgson to its board, and feel that Mr. Hodgson's experience in Ontario mining and exploration will be a great asset to our ongoing efforts."

We seek Safe Harbor.

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