Stingray Copper Inc.
TSX : SRY
TSX : SRY.WT

Stingray Copper Inc.

April 23, 2008 12:55 ET

Stingray Copper Inc.-21 Metwork Drill Hole Results: Delivered to Metcon

TORONTO, ONTARIO--(Marketwire - April 23, 2008) - Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. ("Stingray") (TSX:SRY)(TSX:SRY.WT) reports the results for an additional 21 holes, drilled to infill and expand the El Pilar resource. Material from these drill holes will be composited at Metcon Research Inc. to represent the material that is expected to be mined from the Phase II Area as has been determined from the Company's geological/resource modeling. Two drill rigs continue to test the oxidized copper mineralization with vertical, HQ sized drill holes.

These drill holes have been completed to the south of the Starter Pit Area (500 meters X 500 meters) on drill sections from 8750 North to 8000 North (800 meters of additional strike length). The drill holes reported continue to intersect wide intervals of oxidized copper mineralization. A map of the hole locations can be found at the link below or at the Company's website;

http://www.stingraycopper.com/PressReleases/2007-2008_Drilling_Program_Model.pdf

Copper intervals reported in Table 1 reflect approximate true widths and the principal copper mineral intersected at El Pilar is chrysocolla occurring as intrusive fragments in the host conglomerate. The resource outcrops at the north, and is flat lying to shallowly dipping to the southwest. All drill core samples herein reported have been logged and split by the Company's staff under the direction of the Company's geologists and were delivered for assaying and metallurgical testwork to Metcon Research Inc. of Tucson Arizona.



Table 1: Inferred Mineral Resource In-Fill Drill Results
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Section Easting Hole From To Interval Grade
(m) (m) (m) (Total Copper %)
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8750N 1750 S08-16 58.2 125.35 67.15 0.39
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1950 S08-16 134.1 218.6 84.5 0.33
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2150 S08-166 226.0 247.7 21.7 0.27
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8650N 1650 S08-167 54.0 115.8 61.8 0.39
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1850 S08-168 126.0 198.9 72.9 0.35
----------------------------------------------------------------------------
2050 S08-169 218.5 244.4 25.9 0.24
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8550N 1550 S08-170 88.5 104.2 15.7 0.36
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1750 S08-171 135.5 221.25 85.75 0.34
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1950 S08-172 228.8 249.2 20.4 0.31
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8450N 1450 S08-173 81.7 120.0 38.3 0.35
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1650 S08-174 110.4 201.75 91.35 0.31
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1850 S08-175 198.3 266.3 68.0 0.35
----------------------------------------------------------------------------
8350N 1350 S08-176 55.5 69.2 13.7 0.39
----------------------------------------------------------------------------
1550 S08-177 96.5 177.35 80.85 0.33
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1750 S08-178(i) 216.4 274.0 57.6 0.33
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8200N 1300 S08-86 99.9 169.2 69.3 0.38
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1500 S08-87 120.3 184.5 64.2 0.34
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1700 S08-88 224.0 276.1 52.1 0.32
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8000N 1100 S08-101 95.4 145.05 49.65 0.30
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1300 S08-102 110.5 177.5 67.0 0.33
----------------------------------------------------------------------------
1500 S08-103 177.6 221.0 43.4 0.34
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(i) Ends in copper mineralization


Stingray has now reported 138 drill holes completed on 24 drill sections from 9300 North to 8000 North (1.3 kilometers of strike length). Stingray has completed over 180 drill holes on 50 meter drill section spacing continuing to the south. A complete listing of all drill holes completed by the Company at El Pilar can be found at the link below or at the Company's website.

http://stingraycopper.com/PressReleases/elpilar_chart.pdf

The NI43-101 compliant inferred mineral resource of 180 million tonnes grading 0.37% total copper calculated at a cutoff of 0.25% total copper is being systematically drilled on 50 meter spaced drill sections along its current 1.3 kilometer length and approximate 500 meter width. At a lower cut-off of 0.20% total copper, the inferred mineral resource is 237 million tonnes grading 0.33% total copper. Stingray is working to reclassify the inferred mineral resource and develop the El Pilar as an open pit, heap leach, solvent extraction-electrowinning (SX-EW) copper mine. Stingray expects to recalculate the El Pilar resource after the completion of the drill program.

Stingray is well financed, with approximately $19M in the treasury, to carry out the current technical work that is leading to the feasibility/technical study of El Pilar scheduled for completion in Q1 of 2009. Stingray has been adding key, experienced professionals to the engineering team that is busy directing these technical studies.

Peter Mordaunt, P.Geo is the Qualified Person responsible for the technical content of this release.



TSX Symbol: Common Shares - "SRY" Issued: 58,725,982 common shares
Warrants - "SRY.WT" 20,850,000 warrants


Certain Statements presented herein may constitute "forward-looking statements". Such forward-looking statements may include potential mineralization, resources and reserves, conclusions of prefeasibility and feasibility studies, estimates of future production, capital and operating costs, prices of metals and other known and unknown risks. These and other factors and uncertainties may cause material differences from future results as expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include but are not limited to the risks involved in the exploration, development and mining business.

Contact Information

  • Stingray Copper Inc.
    Steve Brunelle
    Vice President
    (416) 368-6240
    or
    Stingray Copper Inc.
    Peter Mordaunt
    CEO & Chairman
    (416) 368-6240
    Website: www.stingraycopper.com