July 8, 2008 - Vancouver, BC - StrataGold Corporation (SGV-TSX) is pleased to announce that it has entered into an Option Agreement to grant Mega Silver Inc. the exclusive right and option to acquire a 100% title and interest in the Fisher claims located within StrataGold's 100% owned Aurex Property, Yukon Territory.
About the Fisher Claims
The Fisher claims represent 67 out of the 465 contiguous quartz mining claims that make up the Aurex Property in the Mayo Mining District, 56 kilometres northeast of Mayo and 350 km due north of Whitehorse. All claims are wholly owned by StrataGold.
The Fisher claims cover approximately 1,620 hectares on the southeast end of Galena Hill in the historic Keno Hill silver district that has produced over 200 million ounces of silver. Work completed by StrataGold has outlined a moderate silver soil geochemical anomaly (values to 2.5 g/t silver) extending for a kilometre. Mega Silver plans to follow up the geochemical anomaly with an induced polarization geophysical survey of the area, prospecting, trenching and drilling.
Terms of Option Agreement
To fully exercise the option Mega Silver must:
- Incur Exploration Costs totaling $4 million over four years.
- Make total cash payments of $625,000 over four years to StrataGold.
- Issue 1 million common shares of Mega Silver over four years to StrataGold.
- In addition Mega Silver shall grant StrataGold a 2% Net Smelter Royalty (NSR). At any time Mega Silver may purchase 1% of the NSR by paying StrataGold $1 million.
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.
About Mega Silver
Mega Silver is a well financed junior Canadian-based silver exploration and development company with projects in Mexico, the Yukon and British Columbia. Mega Silver is pursuing an accelerated growth strategy by aggressively acquiring mineral exploration and development opportunities with the potential for future resources. Full information on Mega Silver can be found at www.sedar.com and on the Company's website, www.megasilver.ca.
For further information, please contact:
StrataGold Corporation Terry Tucker, President & CEO Vanessa Pickering, Manager, Investor Communications Tel: 604-696-6601 Website: www.stratagold.com E-mail: info@stratagold.com
Mega Silver Inc. Ken Carter, President & CEO Tel: 778-331-4590 Website: www.megasilver.ca E-mail: ir@megasilver.ca
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. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such information constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this document include statements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; and the Company's statements regarding estimates of resources 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; uncertainties involved in the estimation of resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; 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; risks associated with title to mineral properties; and other risks and uncertainties discussed under the heading "Risk Factors" in Section 5.2 of the Company's Annual Information Form filed on SEDAR 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. |