January 24, 2011 08:00 ET

Stroud Announces Final Closing of Placement-Drilling to Re-Commence on Santo Domingo Silver Project

TORONTO, ONTARIO--(Marketwire - Jan. 24, 2011) - Stroud Resources Ltd. (TSX VENTURE:SDR) ("Stroud") is pleased to announce that it has issued and sold a further 8,229,430 units under its previously announced non-brokered private placement raising additional gross proceeds of $576,060.10. Each unit consisted of one common share and one-half of one common share purchase warrant, with each warrant entitling the holder to acquire one common share at a price of $0.12 for a period of 24 months from the date of issue. In connection with the placement, the Company paid cash finder's fees of $34,339.20 to registered dealers who arranged for some of the purchasers of units. All securities issued pursuant to the private placement are subject to a 4-month hold period.

A total of $2,263,318.12 was raised by Stroud in the private placement and no further sales are to occur under the placement. Proceeds from the private placement will be used for general corporate purposes and to fund a 6 to 9 month diamond drilling program on Stroud's 100% owned Santo Domingo silver project in Jalisco, Mexico. It is currently anticipated that drilling will commence in February 2011. The drilling program is designed to increase the estimated resources for the project and to provide valuable information for a scoping study intended to be carried out after the drilling program. Work would include metallurgical testing, environmental impact studies and detailed surveying of the potential open pit location.

Stroud is a debt-free exploration company focused on the discovery and exploration of silver and gold deposits in Mexico and Ontario. Stroud owns a 100% interest in the Santo Domingo epithermal silver-gold project in central Mexico. In addition to the Santo Domingo project, Stroud's assets include 100% interests in the Hislop gold property, near Timmins, Ontario and the Leckie gold property, near North Bay, Ontario. Stroud also generates cash flow from a 3.75% interest in six natural gas, and natural gas condensate wells in central Alberta.

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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