WSR and Noront Announce Definitive Options From Golden Valley Mines to Each Acquire Up to 35% Interest in Golden Valley "Luc Bou

WSR Resources Inc. ("WSR")(TSX VENTURE:WSR) is pleased to announce the signing
of a definitive agreement among Golden Valley Resources Inc., Noront Resources
Ltd. ("Noront") and the WSR providing WSR and Noront the option to acquire, from
Golden Valley, an aggregate 70% legal and beneficial interest (the "Option") in
the Golden Valley property located in the lowlands region (McFauld's Lake Area)
of James Bay, Ontario (the "Property").


In order for WSR to acquire its 35% interest in the Property, WSR will be
required to make payments to Golden Valley totalling $175,000 (or $350,000 in
the aggregate with the payments from Noront), to be satisfied by the payment by
each of WSR and Noront of $25,000 in cash, and by the issuance of 340,909 common
shares of WSR, and 56,174 common shares of Noront. In addition to these
payments, WSR and Noront will also be required to incur aggregate exploration
expenditures on the Property of at least $5,000,000 over a three year period (of
which $1,000,000 must be expended in the first year).


Upon WSR and Noront earning their collective 70% interest in the Property, WSR,
Noront and Golden Valley shall enter into a joint venture agreement. The Joint
Venture Agreement will require WSR and Noront to fund all project costs up to
the start of commercial production from the Property. Following the commencement
of commercial production, any cash flow after payment of operating expenses and
third party financing costs will be distributed to Noront and WSR until such
time as the aggregate of their project costs, including interest, up to the
commencement of commercial production have been repaid, following which such
cash flow shall be distributed to the parties on a pro rata basis.


The transaction remains subject to the approval of the TSX Venture Exchange and
execution of the definitive option agreement.


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 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 the WSR Gold Inc. James Bay Lowlands Property Holdings please visit the
following link: http://media3.marketwire.com/docs/WSR0910.jpg

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