Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

September 10, 2010 09:45 ET

Strait Gold Identifies Depth Potential at Alicia With Geophysics

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2010) - Strait Gold Corp (TSX VENTURE:SRD) is pleased to report that ground geophysical surveys on its Alicia copper-gold property in Peru have outlined several induced polarization (IP) anomalies, the largest and strongest of which is associated with surface outcrops (Zones 7 and 8) that returned 31.7 metres of 0.5% copper and 0.07 grams per tonne (g/t) and 20.0 metres of 4.9% copper and 0.42 g/t gold, respectively, from historical trenching.

Six induced polarization (IP) anomalies were detected, the largest of which is estimated to begin approximately 200 metres down dip from Zones 7 and 8. While the surface mineralization on these zones is primarily in the form of copper oxides, the chargeability anomaly detected by the IP survey may indicate a transition to sulphide mineralization.

"The results of the IP survey suggest that copper mineralization continues at depth," said Strait Gold President Jim Borland. "When drilling commences later this month, this anomaly will be one of our primary targets."

A total of 16.8 km of IP and magnetic surveys were completed by Fugro Ground Geophysics of Lima, Peru. The IP anomaly underlying Zones 7 and 8 is coincident with a magnetic low, and defined by a strong ~ 24 mV/V chargeability anomaly, with approximately 1.4 kilometres of strike length and at least 450 metres of down-dip extent, with a steep northerly dip. (To view the chargeability data from the IP survey, click here: http://media3.marketwire.com/docs/srd0910fig1.pdf.)

Phase 1 of the Alicia exploration program included systematic surface mapping and sampling that confirmed significant values for copper, gold and silver, in addition to the recently completed geophysical surveys. Phase 2 will consist of drilling 1,000-1,200 metres to test for copper-gold mineralization at depth along the porphyry-limestone contact which includes Zones 7 and 8. 

The Alicia Project is located within the prolific Andahuaylas-Yauri Belt, which stretches across much of southern Peru. This highly prospective belt hosts numerous porphyry and skarn deposits, including Xstrata's Las Bambas deposit with indicated and inferred resources of 1.1 billion tonnes grading 0.77% copper, plus associated molybdenum and gold. Strait Gold can earn a 100% interest in the Alicia property under a three-year option agreement, subject to a 2% NSR royalty.

Dr. Roger Moss, P.Geo., is the Qualified Person as defined by NI 43-101 for the purpose of this press release and has reviewed its technical content.

About Strait Gold Corporation:

Strait Gold Corporation is a Canadian mineral exploration company active solely in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-silver property and the Culebrilla gold-silver property, both in Ancash Department approximately 250 km north of Lima. To learn more about Strait Gold, please visit our website at www.straitgold.com.

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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