12:30 EDT Wednesday, March 26, 2008

TORONTO, ONTARIO--(Marketwire - March 26, 2008) - Metalex Ventures Ltd. (TSX VENTURE:MTX) ("Metalex"), WSR Gold Inc. (TSX VENTURE:WSR) ("WSR") and Arctic Star Resources Inc. (TSX VENTURE:ADD) ("Arctic Star") announced today that they have executed the definitive agreement pursuant to their press release dated November 26, 2007, on their James Bay Lowland Claims ("Claims") whereby WSR can earn up to a 50% beneficial interest in the Claims by spending up to $20 million over 4 years on the Claims.

Under the terms of the definitive agreement, WSR has the right to earn up to a 50% interest in the Claims by funding CDN$20.0 million in expenditures on the Property over a 4 year period. For each CDN$5.0 million in expenditures incurred by WSR on the Claims, WSR will acquire a 12.5% interest in the Claims, up to a maximum 50% interest. Currently the claims are owned by a 91.5% Metalex: 8.5% Arctic Star joint venture.