WSR Gold Inc. Announces Closing of $9 Million Guaranteed Private Placement Financing

TORONTO, ONTARIO--(Marketwire - April 25, 2008) -

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WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") is pleased to announce that it has closed its previously announced brokered private placement of units ("Units") and flow-through units ("FT Units") to raise gross proceeds of $9,000,000. In connection with the financing, WSR issued an aggregate of 11,000,000 Units and 5,833,331 FT Units. Each Unit was issued at a price of $0.50 per Unit, and consisted of one common share of WSR and one-half of one common share purchase warrant (each whole such warrant, a "Warrant"). Each FT Unit was issued at a price of $0.60 per FT Unit, consisted of one "flow-through" common share of WSR and one-half of one Warrant. Each whole Warrant shall entitle the holder thereof to acquire one additional common share of WSR at an exercise price of $0.65 per share for a period of 24 months from the date of issuance thereof.

The offering was largely purchased by institutional investors, including Rosseau Asset Management, Pinetree Capital Ltd., Sprott Asset Management; and Northfield Capital Corp.

Primary Capital Inc. and PowerOne Capital Markets Limited acted as agents in connection with the offering, pursuant to which they received an aggregate cash commission of 6.5% of the gross proceeds raised in the offering, as well as an aggregate of 1,094,166 compensation warrants ("Compensation Warrants"). Each Compensation Warrant is exercisable to acquire one Unit at an exercise price of $0.50 for a period of two years following the date of issuance thereof.

All securities issued in connection with the private placement are subject to a statutory hold period expiring August 25, 2008. The private placement remains subject to the final approval of the TSX Venture Exchange.

WSR's current cash position is approximately $14 million. These funds are to be used to aggressively explore WSR's substantial holdings (see map below) in the Ring of Fire, James Bay Lowlands, Ontario, Canada.