Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

October 22, 2009 11:02 ET

Strait Gold Completes Technical Report on Alicia Copper-Gold Project

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2009) - Strait Gold Corporation ("Strait Gold" or the "Company") (TSX VENTURE:SRD) is pleased to announce it has completed a technical report on its Alicia Project in compliance with National Instrument 43-101. The report is available on the Company's web site at http://www.straitgold.com/pdf/ALC2009TechReport.pdf and has been filed on SEDAR.

The report, titled "Geology and Mineralization of the Alicia Copper Gold Project, Department of Cusco, Peru," was co-authored by Ryan Weston, M.Sc., P.Geo., and Roger Moss, Ph.D., P.Geo. Mr. Weston is Vice President, Exploration, for the Company and Dr. Moss is a director of the Company. Both are Qualified Persons as defined by National Instrument 43-101. Mr. Weston is the Qualified Person as defined by NI 43-101 for the purpose of this press release and has reviewed its technical content.

The Alicia Project is approximately 500 km southeast of Lima, Peru, and lies within the prolific Andahuaylas-Yauri metallogenic belt of porphyry and skarn deposits that extends over 300 km in a northwest-southeast direction. Strait Gold, through its wholly owned Peruvian subsidiary, holds an option to earn a 100% interest in the property, subject to a 2% NSR royalty (please see the Company's news release of September 29, 2009, www.straitgold.com/nr-20090929.html).

The report recommends a two-phase exploration program with Phase 1 consisting of community engagement, surface mapping/sampling and an induced-polarization (IP) survey to identify drill targets. The second phase would consist of drilling 3-4 holes to a depth of about 100 metres to test for mineralization at depth. The report further recommends a second, more substantial round of drilling (2,000-5,000 metres) depending on the success of the initial drill program.

Work to date at Alicia has identified weak porphyry style mineralization and nine skarn zones situated at the contact between a porphyry intrusive and surrounding limestone. The focus of the Company's exploration efforts at Alicia will be primarily on the skarn zones where trenching and sampling returned "high copper values and moderate gold and silver values over significant widths," says the report. "For example, Trench Huanca-5, in Zone VIII on the northern contact of the intrusive returned values of 4.9% Cu, 0.42g/t Au, 29.2g/t Ag and 0.009% Mo over 20m."

The primary source of information for the report is based on two one-day field investigations of the property made by Mr. Weston and Strait Gold geologist W.Vasquez on February 20 and May 7, 2009. Past exploration results by Anaconda Peru S.A. and Cordillera de las Minas S.A. were made available to the authors by Panoro Minerals Ltd. and were included in the initial assessment of the property. Data from past exploration is historic in nature and as such can only be relied upon as an indication of the potential for mineralization on the property. Check sampling of select trenches by Strait Gold geologists returned comparable values to historic sampling.

Highlights of historical trench sampling over the Alicia skarn zones are as follows:

ZoneTrenchWidth (m)Cu (%)Au (g/t)Ag (g/t)Mo (%)
1Iris 556.01.90.1812.70.003
1Iris 632.22.00.107.20.012
1Iris 1032.21.80.2012.00.009
1Iris 1112.03.20.4031.40.004
2Huanca 916.41.80.227.00.013
3Suraco 316.01.20.4012.70.002
4Suraco 120.21.70.9410.90.002
5Huanca 716.32.40.3612.80.035
6Huanca 314.92.00.3916.70.001
7Huanca 131.70.50.074.60.002
8Huanca 520.04.90.4229.20.009
8Huanca 623.23.90.2321.60.038
9Iris 731.62.80.3214.70.024
9Iris 819.31.50.188.10.005

Three drill holes were drilled on the property in 2003, two in the porphyry and one in the limestone to the north. The holes drilled in the porphyry intersected weakly altered porphyry containing weakly disseminated pyrite and chalcopyrite. Hole AL-02 intersected the porphyritic intrusive over the entire length of the hole with a 100-metre interval between 52 and 152 metres grading 0.11% Cu, and 0.05g/t Au. The hole in the limestone did not intersect any mineralization.

In addition, high-grade silver-lead-zinc veins were reported approximately 1.5 km to the southeast of the porphyry.

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-molybdenum property and the Culebrilla gold-silver property, both in Ancash Department approximately 325 km north of Lima. To learn more about Strait Gold, please visit our website at www.straitgold.com.

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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