Strait Gold’s Alicia Copper-Gold Porphyry-Skarn Project in Peru:               A Major Discovery i...
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Strait Gold’s Alicia Copper-Gold Porphyry-Skarn Project in Peru: A Major Discovery in the Making? May 27, 2010. 1. Forward-Looking Statements.

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Forward looking statements

Strait Gold’s Alicia Copper-Gold Porphyry-Skarn Project in Peru: A Major Discovery in the Making?

May 27, 2010

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Forward looking statements

Forward-Looking Statements

This presentation document contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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Company profile

Company Profile

  • TSXV-listed mineral exploration company

  • Operating solely in Peru

  • Three active projects:

    • Alicia (copper-gold)

    • Letra Rumi South (copper-silver)

    • Culebrilla (gold-silver)

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Management and directors

Management and Directors

Jim Borland, President and Director– Previously BMO Nesbitt Burns, Anvil Mining, Glencairn Gold, Blue Pearl Mining

Graham Desson, CA, CFO– Previously Western Goldfields, Silver Bear Mining, Slater Industries

John Gammon, PhD, Director** – Retired Ontario Assistant Deputy Minister of Mines; previously Falconbridge Exploration Manager, Europe

Austin Gulliver, Director**– Dean of Science, Brandon University, Manitoba

William R. Johnstone, LLB, Secretary, Director– Partner Gardiner Roberts LLP

Roger Moss, PhD, P.Geo., Director*– President Los Andes Copper

John Postle, P.Eng., Director**– Independent mining consultant

Frank van de Water, CA, Director** – CFO Zaruma Resources

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*Qualified Person for the disclosure of this presentation

**Independent

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Strategy

Strategy

  • Early stage exploration

    • Highest potential reward

  • Focus on Peru

    • Favourable geology, economy, mining culture

  • Build pipeline of projects, adding value through exploration

  • Top priority 2010 – drilling at Alicia Project

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Share structure

Share Structure

Shares outstanding 27,010,436

Warrants2,188,400

Incentive Options 2,145,000

Fully diluted 31,613,836

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Forward looking statements

Market Capitalization Selected Exploration Companies in Peru

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Peru a mining country

Peru – A Mining Country

  • Fifth largest gold producer in the world

  • First in silver, third in copper

  • Second lowest country risk in South America after Chile*

  • Established and consistent legal framework – Free Trade Agreement with Canada, 2008

  • “Elephant” Country

    • Tintaya, Las Bambas (Xstrata)

    • Yanacocha (Newmont, Minas Buenaventura)

    • Growing list of other world class mines/projects

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* S&P, Fitch and Moody’s , April 2008


Project locations

Project Locations

  • Alicia Project

    • Cusco Region

    • 500 km SE of Lima

  • Letra Rumi South and Culebrilla

    • Ancash Region

    • 250 km N of Lima

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Alicia project

Alicia Project

  • 26-sq-km property

  • 60 km south of city of Cusco

  • Community agreement in place

  • Existing road to the property

  • Andahuaylis-Yauri porphyry-skarn belt in southern Peru hosts multiple mines/projects

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Alicia project1

Alicia Project

  • Tintaya (Xstrata: current reserve of 78 million tonnes @ 1.1% Cu, 0.16 g/t Au after 25 years of production

  • Las Bambas (Xstrata: 1.1 billion tonnes @ 0.77% Cu)

  • Cotabombas (Panoro Minerals: 114 million tonnes @ 0.68% Cu, 0.38 g/t Au)

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Andahuaylas yauri belt

Andahuaylas-Yauri Belt

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Alicia project simplified geology

Alicia Project –Simplified Geology

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Not true widths. Results are historical and should not be relied upon.

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Alicia project trenching highlights

Alicia Project –Trenching Highlights*

ZoneTrenchWidth (m)Cu (%)Au (g/t)Ag (g/t)Mo (%)

1Iris 5 56.01.90.1812.70.003

1Iris 6 32.22.00.107.20.012

1Iris 10 32.21.80.2012.00.009

1Iris 11 12.03.20.4031.40.004

2Huanca 9 16.41.80.227.00.013

3Suraco 3 16.01.20.4012.70.002

4Suraco 1 20.21.70.9410.90.002

5Huanca 7 16.32.40.3612.80.035

6Huanca 3 14.92.00.3916.70.001

7Huanca 1 31.70.50.074.60.002

8Huanca 5 20.04.90.4229.20.009

8Huanca 6 23.23.90.2321.60.038

9Iris 7 31.62.80.3214.70.024

9Iris 8 19.31.50.188.10.005

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* Not true width. Results are historical and should not be relied upon.

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Alicia srd chip sampling results

Alicia – SRD Chip-Sampling Results

Zone 1

10.0 m @ 0.99% Cu, 0.14 g/t Au, 5.54 g/t Ag

10.0 m @ 1.73% Cu, 0.22 g/t Au, 9.57 g/t Ag

Zone 1 Extension

5.5 m @ 2.17% Cu, 0.12 g/t Au, 6.23 g/t Ag

6.0 m @ 5.65% Cu, 0.95 g/t Au, 45.25 g/t Ag

Zone 5

16.5 m @ 2.35% Cu, 0.38 g/t Au, 15.1 g/t Ag

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Alicia project extension zone

Alicia Project – Extension Zone

Potential for more mineralized

skarn below the limestones

SW

NE

Limestones

Porphyry

Garnet Skarn

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Summary

Summary

  • Grassroots exploration strategy

  • Peru focus

  • 27.0 million shares outstanding

  • Alicia Project

    • Option to earn 100%

    • Large property – 26 km2

    • Similar characteristics to major deposits in the same metallogenic belt

    • Excellent copper and gold grades from early sampling

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Forward looking statements

TSXV: SRD

18 King St. E., Suite 1203, Toronto, ON M5C 1C4

www.straitgold.com

Jim Borland, President

416-223-9970

[email protected]

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