Strait Gold Corporation

Strait Gold Corporation

December 19, 2011 08:57 ET

Strait Gold Closes $600,000 Private Placement with Teck

TORONTO, ONTARIO--(Marketwire - Dec. 19, 2011) - Strait Gold Corporation (TSX VENTURE:SRD) ("Strait Gold" or the "Company") is pleased to announce that, further to its Press Release of December 9, 2011, it has closed the $600,000 private placement with Teck Resources Limited ("Teck"). Teck subscribed for 3,000,000 Units of Strait Gold (the "Units") at $0.20 per Unit. Each Unit is comprised of one common share and one share-purchase warrant exercisable at $0.25 within 12 months of closing of the placement or at $0.35 by December 31, 2013. The securities issued to Teck are legended and restricted from trading until April 17, 2012. The funds will be used by the Company for general working capital.

About Strait Gold

Strait Gold Corporation is a Canadian mineral exploration company active solely in Peru since 2003 and listed on the TSX Venture Exchange since 2006. In addition to its Alicia property, the Company holds a 100% interest in the Letra Rumi South base metals property and a 100% interest in the Culebrilla precious metals property, both approximately 250 km north of Lima. The Company continuously reviews exploration opportunities in Peru and is actively seeking additional projects.

To learn more about Strait Gold Corporation, please visit our web site at

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Strait Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on such forward-looking statements.

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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