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

Strait Gold Corporation

November 29, 2006 14:39 ET

Strait Gold Reports Third-Quarter Results

TORONTO, ONTARIO--(CCNMatthews - Nov. 29, 2006) - Strait Gold Corporation (TSX VENTURE:SRD) (TSX VENTURE:SRD.WT) today announced its unaudited financial results for the three-month and nine-month periods ended September 30, 2006.

For the nine-month period ended September 30, 2006, the Company incurred a loss of $184,577, or $0.03 per common share. During the three-month period ended September 30, 2006, the Company incurred a loss of $64,246, or $0.01 per common share.

For the nine-month period ended September 30, 2006, the Company required $99,369 and $164,501 respectively to fund its operating and investing activities and raised $343,263 through its financing activities. During the three-month period ended September 30, 2006, the Company generated $16,557 from its operating activities and required $145,850 to fund its investing activities. The Company had cash of $74,397 at September 30, 2006.

Subsequent to the period end, on October 20, 2006, the Company completed an initial public offering of 8,000,000 units at a price of $0.20 per unit for gross proceeds of $1,600,000. Each unit consisted of one common share and one-half of a share-purchase warrant. The common shares and warrants commenced trading on the TSX Venture Exchange on October 25, 2006.

Complete financial results and management's discussion and analysis have been filed on SEDAR at www.sedar.com.

Strait Gold Corporation is a Canadian mineral exploration company active in Peru. 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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