Strait Gold Corporation

Strait Gold Corporation

January 19, 2010 17:55 ET

Strait Gold Closes Private Placement

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2010) - Strait Gold Corporation ("Strait Gold" or the "Company")(TSX VENTURE:SRD) is pleased to announce that further to its press release of January 12, 2010, the Company closed a further tranche of the private placement of 1,150,000 units for $115,000. The Company placed a total of 3,889,000 units for gross proceeds of $388,900 pursuant to the offering.

Each unit (a "Unit") consisted of one (1) common share of the Company and one half (1/2) of a share purchase warrant (each a "Warrant"). Each full Warrant entitles the holder to acquire an additional common share at the price of $0.15 per share for eighteen (18) months following Closing. For the final tranche, the Company paid a finder's fee of $1,500 in cash together with 15,000 compensation warrants to Union Securities Ltd. ("USL") as a finder. Each compensation warrant entitles USL to purchase a common share of Strait Gold at $0.10 per share for eighteen (18) months following Closing. The securities issued in the final tranche bear a legend and are restricted from trading until May 16, 2010. The Company currently has 27,010,436 common shares issued and outstanding.

The proceeds from the offering will be used for working capital and to fund exploration of its Alicia Property.

About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-silver property and the Culebrilla gold-silver property, both in Ancash Department approximately 250 km north of Lima. To learn more about Strait Gold, please visit our website at

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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