Strait Gold Corporation
TSX VENTURE : SRD
TSX VENTURE : SRD.WT

Strait Gold Corporation

April 20, 2007 09:05 ET

Strait Gold Closes Short-Form Prospectus Financing for $2.3 Million

TORONTO, ONTARIO--(CCNMatthews - April 20, 2007) - Strait Gold Corporation (TSX VENTURE:SRD)(TSX VENTURE:SRD.WT) is pleased to announce the closing on April 19, 2007, of a public offering of 5,750,000 units by way of a short-form prospectus to raise gross proceeds of $2.3 million, including a fully subscribed over-allotment option exercised by the agent, Blackmont Capital Inc. ("Blackmont").

Each unit in the offering consisted of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to acquire one common share of the Corporation at a price of $0.60 until October 19, 2008.

Blackmont received a cash commission of $184,000. In addition, Blackmont was granted options to acquire 460,000 units on the same terms as above.

Upon closing, a total of 22,093,940 common shares of the Company are issued and outstanding.

Strait Gold Corporation is a Canadian mineral exploration company active in Peru. It holds an option to earn a 100% interest in the 68-sq.-km Culebrilla Property located in Ancash Department, the same Peruvian jurisdiction that hosts the Pierina gold mine (Barrick Corporation), the Antamina base metals mine (BHP Billiton, TeckCominco, Xstrata Minerals and Mitsubishi) and numerous other, smaller mining operations. Culebrilla lies between Pierina to the south and Lagunas Norte, another Barrick gold mine, to the north.

To find out more about Strait Gold Corporation, please visit our website at www.straitgold.com.

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