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

Strait Gold Corporation

April 27, 2007 16:43 ET

Strait Gold Files Audited 2006 Financial Statements and MD&A

TORONTO, ONTARIO--(CCNMatthews - April 27, 2007) - Strait Gold Corporation (TSX VENTURE:SRD)(TSX VENTURE:SRD.WT) is pleased to report that it has today filed audited financial statements for the year ended December 31, 2006, along with management's discussion and analysis of those results on SEDAR and posted the same on its web site, www.straitgold.com.

These are the first audited annual financial statements filed by Strait Gold as a public company. On October 20, 2006, the Company completed its initial public offering (the "IPO") of 8,000,000 units at a price of $0.20 per unit for gross proceeds of $1.6 million. Each unit consisted of one common share and one-half of a share-purchase warrant with each full warrant entitling the holder to acquire an additional common share at $0.30 until April 20, 2008. The Company's common shares and the warrants that were issued in the IPO were listed on the TSX Venture Exchange on Oct. 25, 2006, trading under the symbols SRD and SRD.WT, respectively.

Subsequent to year-end, on April 19, 2007, the Company completed a short-form prospectus offering (the "SFP Offering") of 5,750,000 units at a price of $0.40 per unit for gross proceeds of $2.3 million. Each unit consisted of one common share and one-half of a share-purchase warrant with each full warrant entitling the subscriber to acquire an additional common share at $0.60 until October 19, 2008.

Following completion of the SFP Offering, the Company had 22,093,940 common shares issued and outstanding. If all options and warrants were exercised, the Company would issue a further 9,735,000 commons shares for additional proceeds of $3,955,000.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for this news release.

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