Strait Gold Corporation

Strait Gold Corporation

February 28, 2008 11:36 ET

Strait Gold Starts Geophysical Surveys at San Jorge, Pallcamachay

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2008) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report that geophysical surveys are under way at its San Jorge and Pallcamachay properties in Peru in order to help select drill targets on both properties.

Fugro Ground Geophyiscs Pty Ltd. will complete an induced polarization (IP) survey of approximately 35 line-kilometres and a ground magnetic survey of approximately 70 line-kilometres on the Pallcamachay property and a ground magnetic survey of approximately 50 line-kilometres at San Jorge.

"These surveys are an important step toward selecting drill targets on both properties," said Strait Gold President Jim Borland. "We have started the process to obtain the necessary Class B drilling permits on both San Jorge and Pallcamachay, but exact drill-pad locations are required prior to permit approval."

San Jorge is a silver-gold epithermal prospect located approximately nine kilometres north of and in a similar geological environment as the recent San Luis silver-gold discovery (a joint venture of Esperanza Silver Corporation and Silver Standard Resources Inc.) and approximately 310 km northwest of Lima, the capital of Peru. Pallcamachay is a copper-molybdenum porphyry target located approximately three kilometres northwest of the San Jorge property.

A total of 11 veins at San Jorge were sampled by the Company during an initial site visit in late 2007 and all returned anomalous to high-grade silver and gold values over significant widths. Of 25 samples collected to date, five samples returned greater than 100 g/t silver and greater than 0.3 g/t gold with one chip sample across a vein returning 428 g/t silver and 1.5 g/t gold over 1.4 metres.

The Company's 2008 exploration program at San Jorge is designed to define the grade, width and strike length of individual exposed veins and complete property-scale mapping and ground geophysics to identify vein continuity in areas of cover. Strait Gold is earning a 70% interest in San Jorge (subject to a 2% NSR) with an option to increase its interest to 100% (please refer to the news release dated November 6, 2007, for further details).

At Pallcamachay, extensive phyllic alteration exposed at the contact between a granite porphyry and Tertiary volcanic rocks indicates the presence of a robust hydrothermal system and may reflect the barren phyllic shell of a shallow, buried porphyry system. Surface sampling to date in areas of quartz-iron-oxide stockwork veining returned anomalous molybdenum, copper and silver values. The Company plans to define the extent and character of alteration and stockwork veining exposed on the property and conduct IP and magnetic ground geophysics to identify potential buried porphyry copper mineralization. Strait Gold is earning a 100% interest in Pallcamachay, subject to a 2% NSR% (please refer to the news release dated November 6, 2007, for further details).

Ryan Weston, 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 in Peru and listed on the TSX Venture Exchange. To learn more about Strait Gold, please visit our website at

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

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