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

Stingray Copper Inc.

May 06, 2008 09:25 ET

Stingray Copper Inc.: El Pilar Infill Drill Program Winds Down Resource Update Anticipated

TORONTO, ONTARIO--(Marketwire - May 6, 2008) - Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. ("Stingray") (TSX:SRY)(TSX:SRY.WT) states, "The in fill drill program is expected to conclude shortly, with over 40,000 meters completed in over 200 drill holes. We are satisfied with the consistent results that have been delivered. The mineralization remains open to the south but Stingray will stop drilling to allow for a resource update as a fundamental step in building the El Pilar Technical/Feasibility Study that Stingray intends on completing for Q1 of 2009. We thank all our shareholders for their patience as this necessary work has been completed to define the parameters for the potential development of the El Pilar Copper Property as one of Mexico's next open pit, SX-EW operations."

Results for 8 additional drill holes are reported from the in fill program in the Phase II Area. One drill rig continues to test the oxidized copper mineralization south of the Phase II Area, while a second drill has begun drilling for geotechnical purposes under the direction of Golder Associates Inc. Upon completion of these programs, drilling will begin at the Arriba Zone exploration area located on the property to the northwest. (See News Release 2007-17)

These drill holes have been completed on drill sections from 8300 North to 7900 North. The drill holes reported continue to intersect wide intervals of oxidized copper mineralization. These holes are posted at the Company's website and 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 HQ 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 to ALS Chemex, Hermosillo, Sonora, Mexico.



Table 1: Inferred Mineral Resource In-Fill Drill Results - Phase II Area
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Section Easting Hole From To Interval Grade
(m) (m) (m) (Total Copper %)
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8300N 1000 S08-73(a) No Significant Value
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1200 S08-75 96.1 140.0 43.9 0.32
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8100N 0900 S08-90(a) No Significant Value
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1300 S08-94 100.8 173.7 72.9 0.36
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1600 S08-97 190.5 242.0 51.5 0.37
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or 156.0 248.8 92.8 0.31
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8000N 1600 S08-104(b) 192.0 247.7 55.7 0.34
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7900N 1300 S08-109 105.30 177.45 72.15 0.35
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1600 S08-112 207.75 255.00 47.25 0.34
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or 207.75 292.95 85.20 0.32
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(a) Located outside or at margin of current resource.
(b) The drill hole ends in copper mineralization.


Stingray has now reported 146 drill holes completed on 25 drill sections from 9300 North to 7900 North. Stingray has completed over 200 drill holes on 50 meter drill section spacing along 1.0 km and at 100 meter drill sections continuing for 700 meters to the south. For a complete listing of all drill holes completed by the Company at El Pilar, click on the following link;

http://www.stingraycopper.com/PressReleases/Table_may5.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 1.2 kilometer length and approximate 400 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 technical/feasibility study of El Pilar scheduled for completion in Q1 of 2009. Stingray has added 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