3 prospective gold projects - 2.8 million ounces

Dublin Gulch, Yukon; Tassawini & BRL Venture, Guyana.

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Message: StrataGold updates gold resource at Tassawini, Guyana

StrataGold updates gold resource at Tassawini, Guyana

posted on Jun 10, 2008 04:35PM
StrataGold updates gold resource at Tassawini, Guyana

VANCOUVER, June 10 /CNW/ - StrataGold Corporation (SGV.TSX) is pleased to announce an updated National Instrument (NI) 43-101 Mineral Resource estimate for both the Tassawini and Sonne Deposits located on the Tassawini property, Guyana prepared by SRK Consulting (Canada) Inc. ("SRK").

The resource estimate integrated 440 diamond drill holes and 1,187 reverse circulation holes for a total of 58,390 metres (m) and 43,284 m of drilling, respectively. Both the Tassawini and Sonne Deposits composed of six distinct auriferous zones (Sonne is located at surface and is a flat-lying saprolitic deposit) are reported using 0.5 grams per tonne (g/t) gold cut-off grade.

Table 1: Tassawini and Sonne Deposits Mineral Resource Statement(x)
-------------------------------------------------------------------------
Deposit Category of Tonnes Gold Grade Gold
Mineral Resource (Kt) (g/t) (ounces)
-------------------------------------------------------------------------
Tassawini Indicated 10,766 1.3 436,600
-------------------------------------------------------------------------
Tassawini Inferred 614 1.7 32,500
-------------------------------------------------------------------------
Sonne Indicated - - -
-------------------------------------------------------------------------
Sonne Inferred 1,312 0.7 29,000
-------------------------------------------------------------------------

(x)Table 1: Notes
1. This drilling has been audited and validated by SRK in accordance
with CIM Estimation of Mineral Resources and Mineral Reserves Best
Practice Guidelines and with National Instrument 43-101 guidelines by
G. David Keller, P.Geo. (APGO No. 1235), an independent Qualified
Person as defined by NI 43-101.
2. All figures have been rounded to reflect the relative accuracy of the
estimates.
3. Mineral resources were estimated using a 0.5 g/t gold cut-off grade.
4. Mineral resources were constrained within optimal Whittle pit shell
design.
5. The gold price used for calculating the cut-off grade was US
$750/ounce and metallurgical recovery of 85%.
6. Gold capped at 50 g/t gold for Tassawini East and 30 g/t for
Tassawini West.
7. Troy ounce (equal sign) 31.103 grams gold.
8. Tonnage was estimated based on 495 specific gravity measurements
provided by StrataGold.
9. Mineral resources are not mineral reserves and do not have
demonstrated economic viability.
10. Mineral resources were classified according to the CIM Definition
Standards for Mineral Resources and Mineral Reserves (December 2005)
by G. David Keller, P.Geo. (APGO No. 1235), an independent Qualified
Person as defined by National Instrument 43-101.
11. SRK is not aware of any known environmental, permitting, legal,
title, taxation, socio-economic, marketing or other relevant issues
that could potentially affect this estimate of mineral resources. The
mineral resources may be affected by subsequent assessments of
mining, environmental, processing, permitting, taxation, socio-
economic and other factors. There is insufficient information at this
early stage of study to assess the extent to which the resources will
be affected by these factors, which are more appropriately assessed
in a conceptual study.

The estimation of the Tassawini and Sonne deposits is well-constructed and the results have been verified to a reasonable degree of confidence. Globally, the block model average grade is relatively similar to that of the declustered input data, indicating that no biases have been introduced. The mineral resources are sensitive to the selection of the cut-off grade. The table below presents the tonnage and gold grades including all zones within the Whittle pit shell at various cut-off grades. The reported quantities and grades are only presented as a sensitivity of the resource model to the selection of cut-off grade.

Table 2: Tassawini and Sonne Deposits - Sensitivity analysis of tonnage
and grade using comparative cut-offs(xx)

-------------------------------------------------------------------------
Contained
Deposit Cut-off Grade Tonnage Gold Grade Gold
(Gold g/t)(xx) (Kt)(xx) (g/t)(xx) (oz)(xx)
-------------------------------------------------------------------------
Tassawini 1.00 4,447 2.2 312,000
-------------------------------------------------------------------------
Tassawini 0.75 6,983 1.7 382,000
-------------------------------------------------------------------------
Tassawini 0.50 11,380 1.3 469,100
-------------------------------------------------------------------------
Tassawini 0.35 13,759 1.1 500,000
-------------------------------------------------------------------------
Sonne 1.00 111 1.2 4,000
-------------------------------------------------------------------------
Sonne 0.75 359 0.9 11,000
-------------------------------------------------------------------------
Sonne 0.50 1,312 0.7 29,000
-------------------------------------------------------------------------
Sonne 0.35 2,655 0.6 47,000
-------------------------------------------------------------------------
(xx) All tonnage and grade reported within Whittle pit shell.
(x) All figures have been rounded to reflect the relative accuracy of
the estimates.

A number of options are being evaluated by management to crystallize the value of Tassawini for the benefit of our shareholders. In addition, upon exercise of the Tassawini Option, and as amended in July 2007, StrataGold is required under the Tassawini Agreement to make all reasonable efforts, consistent with technically-and-economically prudent industry practices, to complete a 'Feasibility Study' on the property by July 2009. A full copy of the resource calculation report will be available on the SEDAR website within 45 days of this press release.

SRK has also provided a summary of the mineral resource by weathering profile and are presented below:

Table 3: Consolidated Mineral Resource Statement(x) by weathering
profile(x)

-------------------------------------------------------------------------
Indicated Mineral Resources Inferred Mineral Resource
-------------------------------------------------------------------------
Gold Gold
Tonnage Grade Gold Tonnage Grade Gold
(Kt) (g/t) (oz) (Kt) (g/t) (oz)
-------------------------------------------------------------------------
Saprolite Total 5,588 1.3 229,000 1,625 0.7 36,000
-------------------------------------------------------------------------
Transition Total 986 1.1 34,600 61 0.7 1,300
-------------------------------------------------------------------------
Sulphide Total 4,193 1.3 173,000 240 3.1 24,200
-------------------------------------------------------------------------
Total 10,766 1.3 436,600 1,926 1.0 61,500
-------------------------------------------------------------------------

(x)Table 2 and 3: Notes
1. This drilling has been audited and validated by SRK in accordance
with CIM Estimation of Mineral Resources and Mineral Reserves Best
Practice Guidelines and with National Instrument 43-101 guidelines by
G. David Keller, P.Geo. (APGO No. 1235), an independent Qualified
Person as defined by NI 43-101.
2. All figures have been rounded to reflect the relative accuracy of the
estimates.
3. Mineral resources were estimated using a 0.5 g/t gold cut-off grade.
4. Mineral resources were constrained within optimal Whittle pit shell
design.
5. The gold price used for calculating the cut-off grade was
US $750/ounce and metallurgical recovery of 85%.
6. Gold capped at 50 g/t gold for Tassawini East and 30 g/t for
Tassawini West.
7. Troy ounce (equal sign) 31.103 grams gold.
8. Tonnage was estimated based on 495 specific gravity measurements
provided by StrataGold.
9. The reader is cautioned that the figures presented in Table 2 and 3
should not be misconstrued as mineral resource statements.
10. Mineral resources are not mineral reserves and do not have
demonstrated economic viability.
11. Mineral resources were classified according to the CIM Definition
Standards for Mineral Resources and Mineral Reserves (December 2005)
by G. David Keller, P.Geo. (APGO No. 1235), an independent Qualified
Person as defined by National Instrument 43-101.
12. SRK is not aware of any known environmental, permitting, legal,
title, taxation, socio-economic, marketing or other relevant issues
that could potentially affect this estimate of mineral resources. The
mineral resources may be affected by subsequent assessments of
mining, environmental, processing, permitting, taxation, socio-
economic and other factors. There is insufficient information at this
early stage of study to assess the extent to which the resources will
be affected by these factors, which are more appropriately assessed
in a conceptual study.

Quality Control and Assurance of Samples

A rigorous Quality Control and Assurance program (QC/QA) is in place, using control samples and duplicates, as well as Chain of Custody protocols, under the supervision of Bill Yeomans, P.Geo., General Manager, Exploration South America. Tamperproof sample bags with zip lock tags are being utilized for all of the drill samples. The Tassawini samples were freighted by air in sealed containers to be analyzed at either ALS Chemex in Vancouver or to the ACME sample prep facility located in Georgetown, Guyana. The samples prepped in the ACME's Georgetown facility are air freighted to the ACME analytical laboratory in Santiago, Chile for analysis. Both ALS Chemex and ACME are recognized as ISO 9000 registered laboratories. The control samples, blank and duplicate assay results received for the drilling program demonstrated to StrataGold that the results are considered reliable.

Bill Yeomans, P.Geo., General Manager, Exploration South America, has reviewed and approved 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.

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.

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.



Source: Canada NewsWire (June 10, 2008 - 1:38 PM EDT)

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