Vancouver - May 28, 2008 - StrataGold
Corporation (SGV-TSX) is pleased to announce that an 8,500 metre (m)
diamond drill program has commenced at its 100% owned Dublin Gulch
property, Yukon Territory.
2008 Exploration Program
Exploration conducted by StrataGold since acquisition has successfully
increased the gold resource at the Eagle Zone* which remains open to the
east, west, south and at depth. The property was purchased in 2004 for
approximately $3 USD per gold resource ounce ($6 million USD and 5
million StrataGold shares). Drilling will continue to test the deposit
including at depth where previous drilling in 2006 successfully
intersected the Eagle Zone 180-200 m below the existing resource model
(see news release dated Oct.26, 2006).
In
early 2008, StrataGold reported a NI 43-101 resource estimate on the
Mar-Tungsten Zone** using historical drill data from a program completed
in 1979-1980, prior to StrataGold's acquisition of the Dublin Gulch
property. Based on the recommendation from SRK Consulting (US) Inc. there
is potential to add additional tungsten resources both up and down dip
and along strike. Drilling will test the deposit up dip and along strike
beyond the extent of the existing resource model.**
About Dublin Gulch
Dublin Gulch is located in the north central portion of the Tintina Gold
Belt which is being explored by various exploration companies for
low-grade bulk tonnage, intrusive-hosted gold deposits similar to the
Fort Knox Gold Mine operated by Kinross Gold Corporation in Alaska.
*Eagle Zone Resource Statemen
Resource Category
|
Total Tonnes
|
Gold Grade (g/t)
|
Gold Cut-off Grade
(g/t)
|
Contained gold
(troy ounces)
|
Indicated
|
66,540,000
|
0.916
|
0.50
|
1,960,000
|
Inferred
|
14,390,000
|
0.803
|
0.50
|
371,000
|
**Mar Tungsten Resource Statement
Resource
Category
|
Total Tonnes
|
% WO3
Grade
|
% WO3 Cut
-off Grade
|
Contained
WO3 (pounds)
|
MTU
(metric tonne
units)
|
Indicated
|
5,310,000
|
0.39
|
0.10
|
45,590,000
|
2,070,900
|
Inferred
|
2,170,000
|
0.36
|
0.10
|
17,220,000
|
781,200
|
*Greg Mosher, P.Geo. of Wardrop Engineering Incorporated, Canada, was the
independent Qualified Person under NI 43-101 responsible for the Eagle
Zone gold resource estimate. The technical report for the gold resources
at the Dublin Gulch property was filed on March 13, 2006 and can be found
on www.sedar.com.
** Dr. Bart Stryhas, PhD, a
Principal Resource Geologist at SRK Consulting (US) Inc. is the Qualified
Persons under NI 43-101 responsible for the Mar-Tungsten resource
estimate. The technical report for the tungsten resources at the Dublin
Gulch property was filed on February 26, 2008 and can be found on www.sedar.com.
Terry Tucker, P.Geo., President and CEO of StrataGold Corporation, is the
Qualified Person under NI 43-101 responsible for the technical
information in this press release.
About StrataGold
StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects and the
BRL Venture with Newmont in Guyana. To obtain additional information,
photos, project updates and maps pertaining to this news release, please
visit: www.stratagold.com.
For
further information, please contact:
Mr. Terry L. Tucker, President and CEO
Ms. Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Tel: 604-696-6601
E-mail: info@stratagold.com
Website: www.stratagold.com
Statement Regarding Forward Looking Statements
This news release of
StrataGold Corporation (the "Company") contains statements that
constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or achievements,
or developments in our industry, to differ materially from the
anticipated results, performance or achievements expressed or implied by
such forward-looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects," "plans,"
"anticipates," "believes," "intends,"
"estimates," "projects," "potential" and
similar expressions, or that events or conditions "will,"
"would," "may," "could" or
"should" occur. Forward-looking statements in this document
include statements regarding the Company's expectations regarding
exploration activities on properties in which the Company has an interest.
There can be no assurance that such statements will prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to place
undue reliance on these forward-looking statements that speak only as of
their respective dates. Important factors that could cause actual results
to differ materially from the Company's expectations include among
others, risks related to fluctuations in mineral prices; uncertainties
related to raising sufficient financing to fund planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived
potential of the Company's properties; the possibility that required
permits may not be obtained on a timely manner or at all; the possibility
that the estimated recovery rates may not be achieved; risk of accidents,
equipment breakdowns and labour disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in the work program; the risk of environmental
contamination or damage resulting from the Company's operations; and other
risks and uncertainties discussed under the heading "Risk
Factors" and elsewhere in the Company's documents filed from time to
time with the Toronto Stock Exchange and Canadian securities regulators.
These statements are based on a number of assumptions, including
assumptions regarding general market conditions, the availability of
financing for proposed transactions and programs on reasonable terms, and
the ability of outside service providers to deliver services in a
satisfactory and timely manner. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company's management on the
date the statements are made. Except as expressly required by applicable
securities laws, the Corporation undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
This news release uses the terms "Inferred Resource",
"Indicated Resource" and "Mineral Resource". The
Company advises readers that although these terms are recognized and
required by Canadian securities regulations (under National Instrument
43-101 "Standards of Disclosure for Mineral Projects"), the US
Securities and Exchange Commission does not recognize these terms.
Readers are cautioned not to assume that any part or all of the mineral
deposits in these categories will ever be converted into reserves. In
addition, "Inferred Resources" have a great amount of
uncertainty as to their existence, and economic and legal feasibility. It
cannot be assumed that any part of an Indicated or Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the basis of
feasibility or pre-feasibility studies, or economic studies except for a
Preliminary Assessment as defined under National Instrument 43-101.
Readers are cautioned not to assume that part or all of an inferred
resource exists, or is economically or legally mineable. The Mineral
Resources stated in this news release are not mineral reserves and, in
the absence of a current feasibility study, do not demonstrate economic
viability. The determination of mineral reserves can be affected by
various factors including environmental, permitting, legal, title, taxation,
socio-political, and marketing issues on the estimate.
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