Kaituma Uranium Discovery, Guyana and legal title



    VANCOUVER, Nov. 1 /CNW/ - In January 2006, StrataGold Guyana Inc.
(StrataGold), an indirectly-held, wholly-owned subsidiary of StrataGold
Corporation, was granted Prospecting Licence No. 35/2005 (PL 35/2005) in the
Kaituma area, North-West District, Guyana, to explore for "gold and valuable
minerals" by the Guyana Geology and Mines Commission (GGMC). Detailed stream
sediment sampling conducted by StrataGold on PL 35/2005 positively identified
gold, radioactive minerals and rare earth elements in the samples. X-ray
diffraction analysis (XRD) was completed on two of the stream sediment samples
that reported up to 271 parts per million (ppm) uranium (U). The XRD work
positively identified grains of barium-uranium-phosphate of the autunite
family from samples collected at the headwaters of the drainages located in
the center of PL 35/2005. A follow up soil sampling program over the entire PL
defined a coincident barium-uranium soil anomaly which has a strike length of
5.2 kilometres (km) and a width of 250 to 300 metres (m). A widely spaced
trenching program across this anomaly has led to the near surface discovery of
uranium in saprolitic bedrock.
    Section 32 of the Mining Act 1989 of Guyana provides that if in the
course of exercising rights under a PL the holder discovers evidence of
another mineral not related to the holder's PL, the holder may apply for the
inclusion of that mineral in the PL. In May 2007, StrataGold applied under
section 32 to the GGMC for an amendment of PL 35/2005 to include "radioactive
minerals and rare earth elements." On June 23, 2007 the Official Gazette
(Extraordinary) of Guyana, published by the Authority of the Government,
published a Notice of Intention to grant StrataGold's requested amendment to
PL 35/2005. During the twenty-one (21) day statutory period for objection to
the amendment, Pharsalus Inc (Pharsalus), purporting to be a subsidiary of
Takatu Minerals Limited (a company incorporated in British Columbia), opposed
the amendment to StrataGold's PL 35/2005. Pharsalus bases its opposition on a
"Permission to conduct Geological and Geophysical Survey" (PGGS) granted to
Pharsalus in February 2007 by the GGMC which overlaps PL 35/2005. The PGGS
granted to Pharsalus grants rights over a defined area "save and except all
lands lawfully held or occupied." In August 2007 Pharsalus commenced ex parte
proceedings in the High Court of the Supreme Court of Judicature of Guyana
against the Commissioner of the GGMC seeking to prevent the amendment to
StrataGold's PL 35/2005. In August 2007, StrataGold applied for, and was
granted, leave to intervene in those proceedings. StrataGold applied to the
Court to dismiss the ex parte proceedings instituted by Pharsalus against the
GGMC on the ground, inter alia, that StrataGold's occupation of lands under PL
35/2005 constitutes "lands lawfully held or occupied" within the meaning of
the exception clause to Pharsalus' PGGS. The hearing date of StrataGold's
application has not yet been set. StrataGold will strongly defend its right to
the amendment of PL 35/2005 to include radioactive minerals and rare earth
elements.

    Kaituma Uranium Discovery

    Stream Sediment Program

    In 2006, StrataGold collected thirty stream sediments near the headwaters
of creek drainages on PL 35/2005 and shipped the samples to Actlabs, located
in Ancaster, Ontario. The samples were analyzed by neutron activation (INAA)
and delayed neutron count (DNC) analysis, which included gold, uranium, rare
earth and other pathfinder elements. Anomalous U results (up to 271 ppm U)
obtained from all of the stream sediments identified a probable local source
on PL 35/2005 for a large airborne radiometric anomaly present on the
property.
    Two of the highest stream sediment U values (271 ppm and 241 ppm) were
obtained from two sites collected 4.6 km apart, near the centre of PL 35/2005
within 200 m of the headwaters of the creeks. These two samples were further
subjected to XRD analysis at Actlabs. Mineral grains of barium-meta-autunite
or (Ba((UO(2))(PO(4))(2)(H(2)O)(6)) were positively identified in both
samples. This mineral has 57 weight percent U(3)O8. It was concluded that
barium (Ba) would be a useful pathfinder element for a soil geochemistry
survey.

    Soil Survey Program

    A north south oriented soil grid was established with 400 m line spacing
and 1 m deep auger soil samples collected every 25 m along these lines. A
total of 3,247 soil samples were collected across PL 35/2005 and submitted for
INAA multi-element analysis at Actlabs. A coincident Ba-U soil anomaly was
identified which has a strike length of 5.2 km and a width of 250 to 300 m.
Uranium values within the soils range up to 48 ppm U while barium values range
up to 7200 ppm Ba.

    Preliminary Trenching Results - Uranium Discovery

    A trenching program was conducted to test the coincident Ba-U anomaly,
with trenches excavated every 800 m along the coincident Ba-U soil anomaly.
Each trench was oriented north south and was excavated to a maximum depth of
4 m and up to 200 m in length. The trenching indicated that the saprolitic
bedrock is covered by a 1.5 to 2 m soil horizon. Exposed saprolite was
excavated to a maximum depth of 1.5 m beneath the soil cover. Scintillometer
readings taken in the trenches were typically in the 750 to 1200 counts per
second (cps) range, with broad zones (greater than 30 m) exposed which average
greater than 4,000 cps. Isolated narrow zones measured greater than 10,000 cps
(the upper limit of the scintillometer unit).
    Preliminary uranium results were received from the first set of data with
a 1 m channel sample averaging 2,322 ppm U in hematized and albitized
episyenite. This uranium value result converts to an average grade of
2,738 ppm U(3)O(8), or 5.48 pounds of U(3)O(8) per short ton.(*)

    Geology of the Uranium Discovery

    A gold and multi-element stream sediment and soil geochemistry
exploration program has led to the discovery of uranium in episyenite bedrock.
The style of uranium mineralization discovered on PL 35/2005 is considered to
be a sodium-metasomatic type uranium deposit. Similar uranium deposits have
been discovered in northeastern Brazil including the Espinhares and Itataia
uranium deposits that are associated with uranium and phosphorous in
episyenites.

    Gold Exploration

    It should also be noted that in addition to uranium, anomalous gold
results were received from the stream sediment and soil surveys conducted on
PL 35/2005. A folded Birimian iron formation with a coincident gold anomaly is
considered to be a favorable gold exploration target which will require
further exploration.

    About Kaituma

    PL 35/2005 is located 3 km west of Port Kaituma in North-West District,
Guyana. The property has excellent infrastructure, being serviced by an
all-season road, a paved airstrip and a deep-water port. The deep-water port
and railway line were built by the African Manganese Mining Company during the
1950's for open pit manganese mining operations located 80 km west of the
property, at Matthews Ridge. Ore was transported by rail to Port Kaituma,
where ocean-going vessels were loaded with the manganese ore for shipment to
international markets.

    Quality Control and Assurance

    A rigorous Quality Control and Assurance program (QC/QA) is in place,
using control samples and duplicates, as well as Chain of Custody (COC)
protocols, under the supervision of Bill Yeomans, P.Geo., StrataGold's General
Manager Exploration, South America. Samples were air freighted to Actlabs
analytical laboratory in Ancaster, Ontario. The control sample assay results
received indicated to StrataGold that the results are considered reliable.

    The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101. Mr. Bill Yeomans is designated as the qualified person
having reviewed this information.

    
    (*)Note: Laboratory results are received in ppm U. The conversion factor
       used to convert ppm U to pounds per short ton U(3)O(8) is 1.179, ie:
       (ppm U x 1.179 equals ppm U(3)O(8); 10,000 ppm U equals 1% equals 20
       pounds per short ton U
    

    About StrataGold

    StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects. To obtain
additional information, photos and project updates 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. 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 and statements regarding legal proceedings in Guyana. 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; legal or
regulatory developments: 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. The
Company undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors,
should change.





For further information:

For further information: 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

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STRATAGOLD CORPORATION

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