Strait Gold Corporation

Strait Gold Corporation

February 03, 2010 12:35 ET

Strait Gold Continues Phase 1 Exploration at Alicia

TORONTO, ONTARIO--(Marketwire - Feb. 3, 2010) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report that a Phase 1 exploration program is continuing at its Alicia project in Peru despite recent heavy rainfall that has caused severe flooding in parts of the country and neighbouring Bolivia.

A state of emergency was declared in Cusco Department where the Company's Alicia project is located, but the site of the project itself has not been unduly affected.

"The rainfall has slowed us down, but our program is progressing and we expect to be in a position to begin drilling in the second quarter of the year," said Strait Gold President Jim Borland. "We have continued with community engagement efforts, and this week our exploration team is resuming check sampling of historical trenching as well as mapping and sampling of previously untested areas."

The Company is conducting a two-phase exploration program at Alicia. Phase 1 consists of community engagement, surface mapping, sampling and an induced-polarization (IP) geophysical survey to identify drill targets. The second phase will consist of drilling to test for mineralization at depth. Baseline studies and preparation of an inventory of old mine workings in the area will also be conducted as required for issuance of a drilling permit.

Previous work at Alicia by Minera Anaconda Peru S.A. in 2000, identified nine skarn zones situated at the contact between a porphyry intrusive and surrounding limestone. The initial focus of the Company's exploration efforts are directed primarily on these skarn zones where trenching returned high copper values and moderate gold and silver values over significant widths including:

- 56.0 metres grading 1.9% copper, 0.18 grams per tonne (g/t) gold, 12.7
g/t silver and 0.003% molybdenum;
- 32.2 metres grading 2.0 % copper, 0.10 g/t gold, 7.2 g/t silver and
0.012 % molybdenum; and
- 20.0 metres grading 4.9% copper, 0.42 g/t gold, 29.2 g/t silver and
0.009% molybdenum.

These trenching results are historical in nature and have not been verified by the Company.

The Alicia Project is located within the Andahuaylas-Yauri Belt, which stretches across much of southern Peru. This highly prospective belt hosts numerous porphyry and skarn deposits, including Xstrata's Las Bambas deposit, where 2006 drilling boosted indicated and inferred resources to 508 million tonnes of 1.14% copper, plus associated molybdenum and gold, and Southern Copper Corp.'s Los Chancas deposit, which is reported to contain 200 million tonnes grading 1.0% copper, 0.07% molybdenum and 0.12 g/t gold.

Dr. Roger Moss, P.Geo., is the Qualified Person as defined by NI 43-101 for the purpose of this press release and has reviewed its technical content.

About Strait Gold Corporation:

Strait Gold Corporation, a Canadian mineral exploration company active solely in Peru, is 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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