MAY 29, 2007 - 09:25 ET
 
WSR Drills 76.00 Meters Grading 2.70 Grams Per Ton of Gold at the Peters Property
 
TORONTO, ONTARIO--(CCNMatthews - May 29, 2007) - WSR Gold Inc. ("WSR" or "Company") (TSX VENTURE:WSR) is pleased to announce that it's Winter and Spring drill program on its Peter's Mine property, Guyana, was highlighted by several significant gold intersections. The Company also completed geophysical surveys and additional geochemical sampling on the property. In addition, all outstanding warrants were exercised during this period.

Drilling

The drill program commenced on October, 2006 and is ongoing. WSR continues to drill to follow up on the gold intersections and geophysics and geochemical targeting programs.

The current 2007 drill program has completed eight holes aggregating 2,474 meters to date. The program was designed to explore four extensions of the "Main Shaft" mineralized zone. Preliminary results intercepted near surface gold values: PM2007-1 showing 1.22 g/t Au over 118m and, PM2007-5 showing 2.70 g/t Au over 76m.

Details of drilling results for the 2007 program are shown below. A Map of drill collar location and azimuth is attached.




Grams per ton,
From To Meters Au
------------------------------------------------------------
------------------------------------------------------------
PM2007 - 1 0.00 118.00 118.00 1.218
------------------------------------------------------------
including 0.00 21.00 21.00 1.098
------------------------------------------------------------
including 25.50 54.00 28.50 1.581
------------------------------------------------------------
including 70.00 118.00 48.00 1.521
------------------------------------------------------------
157.00 177.00 20.00 2.503
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 2 0.00 6.00 6.00 1.773
------------------------------------------------------------
31.50 33.00 1.50 1.900
------------------------------------------------------------
134.65 145.00 10.35 1.111
------------------------------------------------------------
161.30 161.50 0.50 1.070
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 3 0.00 3.00 3.00 0.860
------------------------------------------------------------
168.50 169.50 1.00 1.500
------------------------------------------------------------
182.00 191.00 9.00 0.766
------------------------------------------------------------
including 185.00 189.00 4.00 1.155
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 4 106.00 162.00 56.00 0.929
------------------------------------------------------------
including 106.00 111.00 5.00 1.009
------------------------------------------------------------
including 129.00 162.00 33.00 1.309
------------------------------------------------------------
including 135.00 162.00 27.00 1.514
------------------------------------------------------------
including 144.00 154.70 10.70 2.616
------------------------------------------------------------
306.00 307.00 1.00 1.300
------------------------------------------------------------
324.00 327.30 3.30 2.414
------------------------------------------------------------
351.00 352.00 1.00 2.030
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 5 108.00 184.00 76.00 2.703
------------------------------------------------------------
including 108.00 128.00 20.00 2.521
------------------------------------------------------------
including 111.75 125.00 13.25 3.512
------------------------------------------------------------
including 170.70 184.00 13.30 11.455
------------------------------------------------------------
including 170.70 177.75 7.05 19.422
------------------------------------------------------------
343.00 344.00 1.00 1.200
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 6 112.00 117.00 5.00 1.050
------------------------------------------------------------
149.00 150.00 1.00 1.900
------------------------------------------------------------
317.00 318.00 1.00 4.730
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 7 NSV(i)
------------------------------------------------------------


------------------------------------------------------------
PM2007 - 8 9.00 10.50 1.50 1.200
------------------------------------------------------------
227.00 228.00 1.00 5.93
------------------------------------------------------------
(i) NSV equals no significant values


 



The 2006 drill program indicated a southwest plunge for the Main Shaft mineralized zone. The most significant geological outcome from this program is proving the north-south striking and east dipping control structure (the Mango Trend) for mineralization. The ongoing program will consist of approximately 40 holes comprising 11,000 meters to:




- step out testing continuity of recognized structure;
- step out testing continuity of previously tested structure;
- test new zones;
- test continuity of structure;
- develop in fill tests of known zones.


 


The 2006 drill program is focused on probing the continuity and gold mineralization potential of the North -- South trending structure between the Peters Mine Shaft and Harold's Hill. This un-tested zone is referred to as "the Corridor". The three (3) holes drilled in this zone showed the structure has an east dip that runs parallel to the earlier holes. The 2006 program was designed to study stratigraphy and confirm drill results of the earlier operators in the Main Shaft area. A hole drilled by the United Nations in the late 1960's showed gold values in UN#1 from 539 to 544 feet and from 544 to 549 feet assayed 6.95 and 4.36 ounces per short ton respectively or an average of 5.66 ounces over a 10 foot length (The preceding drill holes were drilled prior to the adoption of NI 43101 and as such are historical drill holes). The 2006 program consisted mostly of short holes aggregating 1,396m in 6 holes including re-drills due to collapsed holes in poor ground.

Geophysical Surveys

The Company has recently completed a ground geophysical survey covering approximately 41 line km consisting of 43 lines spaced 200 meters apart for both IP/Resistivity and Magnetic surveys. Coverage was focused on investigating the controlling north-south Mango trend (shear zone) as earlier identified by airborne EM-Magnetics survey, ground mapping and prospecting.

Preliminary field interpretation of raw data indicates presence of IP and Magnetics anomalous zones correlative to geochemical auger drilling results. However, the company is awaiting final report of the geophysics survey before it prioritizes exploratory drilling targets.

Warrants

WSR is also pleased to announce that through the exercise of warrants the Company has raised over $2.8 million since April, 2007. WSR currently has over $5 million and no debt.

Qualified Person

The Peter's Mine Property drill program is being carried out under the direction of Nathaniel M. Silvio, MAusIMM, MAIG, a qualified person within the meaning of National Instrument 43-101. Mr. Silvio has supervised the preparation of and verified the data reported in this press release.

Core is split, with half sent to laboratories for fire assaying. The Company is currently utilizing the services of two independent accredited laboratories, one of which is Loring Laboratories, a Canadian owned and operated facility, as well as the laboratory of a major Canadian mining company. The Company maintains an archive of half core samples and a photographic record of all cores for future reference. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals (QA/QC).

For further information on the Peter's Mine Property, please refer to the technical report dated October 27, 2006 Cargill Consulting Geologists Limited detailing previous exploration and mining activities on the property is available in Guyana Goldfields' SEDAR filings, January 29, 2004 at www.sedar.com.

About WSR

WSR Gold Inc. is a Canadian based mineral exploration Company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French Guyana and northern Brazil.

WSR's shares trade on the TSX Venture Exchange under the symbol "WSR". There are currently 80,081,652 shares issued and outstanding.

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 Westchester, 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 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.

Please note: There is a map available on CCNMatthews' website at the following link: http://www.ccnmatthews.com/docs/wsr0529.pdf

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 
 
WSR Gold Inc.
John Tait
(416) 628-5905
Email: jtait@wsrgold.ca
Website: www.wsrgold.ca