Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

December 03, 2007 12:39 ET

Strait Gold Outlines Copper Porphyry Target at Letra Rumi South

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2007) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report results of recent geophysical surveys conducted on its 100% owned Letra Rumi South copper-gold-molybdenum property in Ancash Department, Peru.

Letra Rumi South lies 23 km southeast of the Pashpap porphyry copper-molybdenum deposits where Northern Peru Copper Corp. has reported an historical unclassified resource of 101 million tonnes grading 0.64% copper and 0.049% molybdenum. The Letra Rumi South property is hosted within Calipuy group intermediate volcanic rocks at the margin of a 9-km by 5-km Tertiary-aged granodiorite intrusion known as the Ancoraca stock.

An induced polarization (IP) survey conducted earlier this year outlined three distinct chargeability anomalies, two of which are coincident with surface mapped zones of alteration and copper mineralization (Zone 1 and Zone 2) and the third of which, anomaly 'C', coincides with local high grade molybdenum values sampled at surface. Coincidentally, the highest molybdenum values from a stream sediment sampling program conducted in 2006 over a 53-sq.-km area came from a stream valley that drains the 9-sq.-km Letra Rumi South concession.

"The correlation between surface disseminated copper mineralization and chargeability anomalies in Zones 1 and 2 presents an excellent porphyry copper target at Letra Rumi South," said Strait Gold President Jim Borland. "We're also interested in testing anomaly 'C' given its locally high grade molybdenum and significant gold-copper values on surface."

The surveys, totaling eight line-kilometres of three-dimensional IP and 15 line-kilometres of ground magnetics, were completed by Fugro Ground Geophysics of Lima, Peru, over the two main gossanous zones exposed on surface.

Geophysical anomaly 'A' is defined by a strong chargeability anomaly coincident with a strong resistivity anomaly. The chargeability anomaly is approximately 150-200 metres long by 100-150 metres wide by 100-200 metres deep with a vertical plunge. It corresponds with surface sericite-silica alteration and local pyrite-pyrrhotite-magnetite+/-chalcopyrite mineralization within Zone 1 which measures approximately 250 metres long by up to 135 metres wide. Grab sampling from this zone returned up to 4.4% copper, 2.5 grams per tonne (g/t) gold and 77 g/t silver.

Geophysical anomaly 'B' is defined by a strong chargeability anomaly coincident with a moderate resistivity anomaly. The chargeability anomaly measures approximately 200-300 metres long by 50-100 metres wide by 50-100 metres deep with a shallow northerly plunge. It corresponds with surface silica-biotite alteration and disseminated to fracture-controlled pyrrhotite+/-pyrite-chalcopyrite mineralization within Zone 2, approximately 250 metres west-southwest of Zone 1. Zone 2 measures approximately 315 metres long by up to 110 metres wide. Surface grab sampling from this zone returned up to 0.3% copper, 1.0 g/t gold and 22 g/t silver with anomalous zinc-lead values.

Geophysical anomaly 'C' lies immediately south of Zone 2 and is defined by a strong chargeability anomaly measuring approximately 100-150 metres long by 100-150 metres wide by at least 175 metres deep with a near vertical plunge. Surface mapping in the area indicates the presence of extensive semi-conformable silica alteration and local gossanous outcrops. Grab sampling in this area returned up to 1.7 g/t gold, 0.3% copper and 0.12% molybdenum. A 250-350 metre diameter coincident magnetic low occurs in the area of Anomaly 'C'.

A program of path-widening to allow access of a portable drill rig to the project is under way. The drill permitting process has been initiated and camp construction is planned to begin in early 2008.

Ryan Weston, 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 is a Canadian mineral exploration company active in Peru. It holds a 100% interest in the Culebrilla gold-silver project, a 100% interest in the Letra Rumi South copper-gold-molybdenum project and is earning an interest in the San Jorge silver-gold property and in the Pallcamachay copper property. To learn more about Strait Gold Corporation, please visit our website at www.straitgold.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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