Strait Gold Corporation

Strait Gold Corporation

July 09, 2007 15:13 ET

Strait Gold Signs Drill Contract for Culebrilla Gold-Silver Project

TORONTO, ONTARIO--(Marketwire - July 9, 2007) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report that it has signed a drilling contract with Geodrill S.A. to conduct a minimum 2,000-metre drill program on its Culebrilla gold-silver project in Peru this summer.

The Company has identified targets for 18 initial drill holes on three zones: Culebrilla, Alalaj and Cabajo. These targets were identified based on extensive surface sampling and ground geophysics and are all areas of previous artisinal mining. Work is scheduled to begin August 1 and be completed within 6-8 weeks. All drilling will use NQ-sized core.

Earlier this year, the Company was granted an Environmental Viability Certificate approving a Class B drilling permit required for the program. The Company has also conducted several town-hall-style meetings with the village of Ancoraca, which holds the surface rights at Culebrilla, and has received approval from the village council for the project. Improved access has been completed to the project's base camp about four kilometres from Ancoraca.

The Company completed a prospectus financing in April 2007, to raise gross proceeds of $2.3 million to fund exploration at Culebrilla. Detailed mapping, sampling and geophysical surveying are also planned for the adjacent Letra Rumi South copper showing which was staked by the Company in 2006, and for prospecting on the Vera Luz claims staked by the Company in January 2007 approximately five kilometres west of Culebrilla.

About Strait Gold Corporation:

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

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