TORONTO, ONTARIO , Metalex Ventures Ltd. (TSX VENTURE: MTX)
("Metalex"), and Arctic Star Resources Inc.'s (TSX VENTURE: ADD)
("Arctic Star") Joint Venture Project along the Ring of Fire, 45
Kilometers North of Noront's Eagle One Discovery encountered a
significant width of Volcanic Derived Sulphides (VDS)
mineralization in hole number 5.01-6. The property consisting of
160 acres, is under option by WSR, whereby WSR can earn up to a 50%
interest in the property.
John Harvey, consulting geologist to WSR and a Qualified Person,
recently returned from the property and reports the following:
Hole 5.01-06 on north - south Section 1+50East, a 50 meter step
out from the previously reported Hole 5.01-01 (see press release
dated May 25, 2008), encountered, in highly altered felsic
volcanics a strong sulphide zone from 72.7 meters to 167.7 meters
(95.0 meters) containing visible copper, zinc, lead and iron
sulphide mineralization in semi to near massive sulphides. The dip
and strike of the zone have not yet been determined and the true
width cannot be determined at this time. Drilling is continuing
with one diamond drill for the present and samples are currently
being prepared for shipping to an independent assay laboratory
where strict quality control procedures are in place and the
results will be closely monitored by Ms. Tracy Armstrong of P&E
Mining Consultants of Brampton, Ontario.
Hole 5.01-01, reported in a previous press release dated May 22,
2008 on Section 1+00 was followed by four additional holes on the
same section. All the four other holes encountered 3 main parallel,
steeply dipping core lengths of sulphide mineralization with
visible copper, zinc, lead and iron sulphides in an altered felsic
volcanic sequence but were not as well mineralized as was observed
in hole 5.01-06.
The following table summarizes the drilling on 5.01 to date with
significant visual sulphide mineralization:
--------------------------------------------------------------------------
Visual
Description of
Location Hole Mineralization Mineralization
----------------------------------------------------------
Hole No E.ing N.ing Dip Az EoH From To Width
--------------------------------------------------------------------------
m m m
--------------------------------------------------------------------------
Near-massive,
iron, copper,
5.01-01 1+00E 0+50N -60 180 149.0 78.9 90.2 11.3 zinc sulphides
--------------------------------------------------------------------------
Semi-massive,
iron copper
103.3 106.0 2.7 sulphides
--------------------------------------------------------------------------
Iron copper,
120.1 125.4 5.3 zinc sulphides
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Iron, zinc
5.01-02 1+00E 0+00 -90 - 201.2 26.8 29.1 2.3 sulphides
--------------------------------------------------------------------------
Semi-massive,
iron copper
52.5 78.9 26.4 sulphides
--------------------------------------------------------------------------
Near-massive,
iron, copper
98.8 100.3 1.5 sulphides
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Semi-massive,
iron copper
5.01-03 1+00E 0+50N -45 180 149.4 56.4 70.1 13.7 sulphides
--------------------------------------------------------------------------
Iron, copper,
zinc
76.1 83.8 7.7 sulphides
--------------------------------------------------------------------------
Iron. Copper,
zinc
92.4 111.0 18.6 sulphides
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Semi-massive,
copper,
5.01-04 1+00E 0+75S -60 360 161.5 30.5 36.3 5.8 zinc sulphides
--------------------------------------------------------------------------
Iron, copper,
zinc
59.3 61.6 2.3 sulphides
--------------------------------------------------------------------------
Iron, copper,
zinc
74.1 84.7 10.6 sulphides
--------------------------------------------------------------------------
Semi-massive,
iron, copper,
zinc
100.3 111.0 10.7 sulphides
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Semi-massive,
iron, copper,
zinc
5.01-05 1+00E 0+02N -85 - 178.0 46.6 57.3 10.7 sulphides
--------------------------------------------------------------------------
Semi-massive,
iron, copper
89.6 96.0 6.4 sulphides
--------------------------------------------------------------------------
Semi-massive,
iron, copper
126.2 131.7 5.5 sulphides
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Semi-massive,
iron, copper,
zinc
5.01-06 1+50E 0+50N -65 180 NF 72.7 90.1 17.4 sulphides
--------------------------------------------------------------------------
Near-massive,
iron, copper,
90.1 167.7 77.6 zinc sulphides
--------------------------------------------------------------------------
- NF - Not Finished
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 and a Qualified Person.
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.
Dr. Charles Fipke is the Qualified Person responsible for the
technical contents of this press release.
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 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).
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: WSR Gold John Tait President and Chief Executive
Officer (416) 628-5905 Email: jtait@wsrgold.ca Website:
www.wsrresources.ca Metalex Ventures Ltd. Chad Ulansky President
and Chief Executive Officer (250) 860-8599 Email:
culansky@metalexventures.com Website: www.metalexventures.com
Arctic Star Diamond Corp. Patrick Power President (604) 689-1799
Email: ir@arcticstardiamond.com Website:
www.arcticstardiamond.com
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