Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

March 23, 2010 09:10 ET

Strait Gold Samples 5.65% Cu, 0.95 g/t Au and 45.25 g/t Ag Over Six Metres to Expand Extension Zone at Alicia

TORONTO, ONTARIO--(Marketwire - March 23, 2010) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report results of recent sampling at its Alicia copper-gold project in southern Peru. A total of 26 samples were taken from three areas of skarn mineralization with 20 returning values greater than 1% copper. One set of samples on a new zone, the Extension Zone, returned 5.65% copper, 0.95 grams per tonne (g/t) gold, and 45.25 g/t silver over 6.0 metres and re-sampling of one trench returned 2.35% copper, 0.38 g/t gold and 15.14 g/t silver and 0.015% molybdenum over 16.5 metres.

Highlights of recent sampling
Zone Trench Width (m) Cu (%) Au (g/t) Ag (g/t) Mo (%)
1 Iris 4 10.0 0.99 0.14 5.54 0.0067
1 Iris 5 10.0 1.73 0.22 9.57 0.0041
Extension NA 5.5 2.17 0.12 6.23 0.0022
  including 3.0 3.93 0.21 11.33 0.0031
Extension NA 6.0 5.65 0.95 45.25 0.0038
5 Huanca 7 16.5 2.35 0.38 15.14 0.0149
  including 7.0 2.86 0.46 15.73 0.0121
Although samples were taken perpendicular to the strike of the skarn, insufficient work has been completed to determine the true width of the mineralization.

"This initial sampling confirms previously reported results from the historical trenching," said Strait Gold President Jim Borland. "Our primary targets are these skarn zones because of their exceptional grades, and now the Extension Zone has been expanded as well. However, we also plan to investigate the potential of the entire Alicia porphyry system."

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 historical trenching returned high copper values and moderate gold and silver values over significant widths.

The Company's sampling was done to confirm the validity of the historical trenching and to follow up on an area 180 metres northeast of the most easterly trench in Zone 1, the Extension Zone, where a single sample taken in 2009 returned 2.0 metres grading 1.2% copper, 0.40 g/t gold, 12.7 g/t silver and 0.002% molybdenum, potentially extending Zone 1 significantly.

The Extension Zone was sampled in two locations during the recent program. The first area returned 2.17% copper, 0.12 g/t gold, and 6.23 g/t silver over 5.5 metres, which included 3.93% copper, 0.21 g/t gold and 11.33 g/t silver over 3.0 metres. The second area, sampled ten metres along strike to the northeast, assayed 5.65% copper, 0.95 g/t gold and 45.25 g/t silver over 6.0 metres.

Zone 1 was sampled in two locations, in the vicinity of trenches Iris 4 and Iris 5. Samples from Iris 4 graded 0.99% copper, 0.14 g/t gold and 5.54 g/t silver over 10.0 metres. A sample across outcrop in the Iris 5 area, 50 metres to the southeast of Iris 4, assayed 1.73% copper, 0.22 g/t gold and 9.57 g/t silver over 10.0 metres.

Historical trenching of Zone 1 returned 56.0 metres grading 1.9% copper, 0.18 g/t gold, 12.7 g/t silver and 0.003% molybdenum in trench Iris 5, and 32.2 metres grading 2.0% copper, 0.10 g/t gold, 7.2 g/t silver and 0.012 % molybdenum in trench Iris 6.

Zone 5 was sampled along the remains of historical trench Huanca 7 and returned 2.35% copper, 0.38 g/t gold, 15.14 g/t silver and 0.015% molybdenum over 16.5 metres comparable to the historical results.

The Company has initiated a two-phase exploration program at Alicia. Phase 1 consists of community engagement, detailed surface mapping and sampling, and an induced-polarization (IP) geophysical survey to identify drill targets. Phase 2 will consist of a drilling program designed to test for copper-gold mineralization at depth along the porphyry-limestone contact.

All samples were taken as continuous chip samples over lengths of one to three metres. Samples were transported to ALS Chemex preparation facilities in Arequipa by Strait Gold personnel. Following sample preparation, samples were couriered to ALS Chemex facilities in Lima, Peru , for analysis. ALS Chemex is an ISO 9001:2000 registered laboratory. Samples were analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for samples exceeding the upper limit of analysis (over limit). Silver, copper, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Over-limit silver (> 100 ppm), and copper (> 10,000 ppm) samples were re-assayed by AAS. Strait Gold routinely carries out a program of quality assurance/quality control (QA/QC) that includes insertion of blanks, standards and duplicates into the sample stream to verify results prior to dissemination.

All of the company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101, and is a Director of the Company. Dr. Moss has reviewed the technical content of this news release.

About the Alicia Copper-Gold Project:

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.

Strait Gold can earn a 100% interest in the Alicia property under a three-year option agreement, subject to a 2% NSR royalty.

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 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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