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

Strait Gold Corporation

March 15, 2007 08:46 ET

Strait Gold Files Short-Form Prospectus

TORONTO, ONTARIO--(CCNMatthews - March 15, 2007) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to announce that it received on March 14, 2007, a receipt for a preliminary short-form prospectus dated March 13, 2007, from the securities commissions of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia to raise a minimum of $1,000,000 and a maximum of $2,000,000 through the sale of. Each Unit will consist of one common share and one-half of a share-purchase warrant. Each full share-purchase warrant will entitle the holder to purchase a common share for 18 months from closing. The offering price per Unit, the exercise price for the warrants and the number of Units to be issued pursuant to the Offering will be determined prior to filing the final short form prospectus.

Blackmont Capital Inc. is acting as agent for the Offering and will conditionally offer the Units on a reasonable commercial efforts agency basis. The Company has granted Blackmont an over-allotment option, exercisable for a period of 30 days from the closing of the Offering, to purchase that number of additional Units equal to 15% of the aggregate number of Units sold in the Offering at the offering price.

Strait Gold intends to use the proceeds from the Offering and any exercise of the over-allotment option to fund further exploration at its Culebrilla Project in Peru and for general corporate purposes.

The closing of the Offering is expected to occur in late March, 2007, and is subject to all applicable regulatory and exchange approvals.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirement of the 1933 Act. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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