Strait Gold Corporation

Strait Gold Corporation

November 09, 2006 10:00 ET

Strait Gold Completes Magnetic Survey in Preparation for Drilling

TORONTO, ONTARIO--(CCNMatthews - Nov. 9, 2006) - Strait Gold Corporation (TSX VENTURE:SRD)(TSX VENTURE:SRD.WT) is pleased to announce it has completed a ground magnetic survey over a key portion of its Culebrilla property in central Peru in preparation for diamond drilling.

The survey was conducted by Fugro Ground Geophysics over an area measuring 2.5x1.5 km covering two areas of past artisinal mining known as Culebrilla and Alalaj. Previous surface rock sampling returned values up to 9.98 grams per tonne (g/t) gold and 200 g/t silver at the Culebrilla showing and 14.4 g/t gold, 1,220 g/t silver, 2.01% copper and 0.19% lead at Alalaj.

The magnetic survey was conducted using 100-metre line spacings with stations every 10 metres for a total of 3,900 readings on a northeast oriented grid. Results of the survey will be compiled together with results of the soil sampling, rock sampling and geological mapping, which are expected to be completed in November, to help identify drill targets.

In addition to the magnetic survey, the current exploration program consists of detailed geological mapping, rock sampling, stream sediment sampling and soil geochemical sampling. Soil sampling is being conducted over the same grid as the magnetic survey at 50-metre-spaced stations. Stream sediment sampling has been carried out over 12 major stream valleys at roughly 250-metre-spaced stations covering the majority of the 68-sq.-km property in order to identify prospective zones that may warrant further investigation. A total of 283 soil samples, 128 stream sediment samples, and 45 rock samples have been taken during this field program and submitted to ALS Chemex laboratories in Lima for assay. Results are pending.

The Culebrilla Property is located in Ancash Department, the same Peruvian jurisdiction that hosts the Pierina gold mine (Barrick Corporation), the Antamina base metals mine (BHP Billiton, TeckCominco and Xstrata Minerals) and numerous other, smaller mining operations.

With reference to National Instrument 43-101, Roger Moss, Ph.D, P.Geo., is the Qualified Person for the purposes of this news release. Sample preparation is carried out at ALS Chemex facilities in Lima, Peru, following which, samples are air shipped to ALS Chemex, a Standards Council of Canada accredited laboratory, in Vancouver, B.C. for analysis. Rock samples reported here were analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for overlimit (greater than 10ppm) samples. Copper and silver, together with 32 other elements, were assayed by ICP-AES following aqua regia dissolution. Overlimit copper (greater than 10,000 ppm) and silver (greater than 100 ppm) samples were reassayed by AAS.

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