Stratabound Drills New Targets on Captain/CNE Property

    
    SB: TSX Venture Exchange                        Issued: 54,713,168 shares

    -   Drilling underway on new Captain/CNE base metal targets
    -   High grade zinc, lead, and silver grades in CNE Trench 2
    -   Cobalt-copper-gold-silver mineralization in CNE Trench 3
    

CALGARY, Oct. 26 /CNW/ - Stratabound Minerals Corp. announces that drilling is now underway on its 100%-owned Captain/CNE claims near the coastal town of Bathurst, New Brunswick.

These claims cover approximately 4,240 acres, and host the Captain copper-cobalt deposit and the Captain North Extension (CNE) zinc-lead-silver-copper deposit.

At least 20 holes will be drilled initially to test new target areas as well as to drill test the Captain Deposit and CNE Mining Lease at depth. The first location for drilling is the "South Captain" located 2.6 kilometres south of the Captain Deposit and which is similarly on the eastern flank of a circular magnetic anomaly within a cluster of airborne electromagnetic conductors (see Target F on Map 15F, www.stratabound.com). Follow-up ground geophysics (MaxMin) and basal till sampling has detected two parallel conductors spatially associated with strong anomalies in cobalt, copper, lead, zinc and nickel. The basal till copper content at South Captain is similar to that at the Captain Deposit, while cobalt content is ten times higher, arsenic is five times higher, and zinc twice as high.

Since the successful completion of a share offering in August 2009, which raised $1.06 million, Stratabound has conducted an intensive exploration program on the new target areas within the Captain/CNE claims.

The work has included 37.6 kilometres of line cutting; 1.6 kilometres of trail cutting; 32.0 kilometres of Gradient IP; 6.0 kilometres of Pole-Dipole IP; and 5.4 kilometres of detailed magnetics at 5-metre stations. A total of 853 metres of backhoe trenching was completed, with the bucket retrieving 260 "basal till" samples and 12 rock samples, often under difficult conditions of deep overburden and rapidly caving trench walls. Analytical results have been received for all 12 rocks and for 187 of the tills.

Bedrock samples were successfully recovered from a 4-metre section of Trench 2, about sixty metres southwest of the previously mined (North Zone) CNE pit. Four grab samples from this interval, excavated from beneath 7 metres of overburden, were assayed. These yielded grades up to 16.3% zinc, 7.8% lead, and 663.5 g/t silver:

    
    -------------------------------------------------------------------------
    Sample       Lead, %        Zinc, %        Silver, g/t       Gold, g/t
    -------------------------------------------------------------------------
     CNE 1        6.50           16.30            460.2            0.19
    -------------------------------------------------------------------------
     CNE 2        1.27            0.17            168.7            0.11
    -------------------------------------------------------------------------
     CNE 3        3.30           10.40            663.5            1.44
    -------------------------------------------------------------------------
     CNE 4        7.80           10.80            176.4            0.35
    -------------------------------------------------------------------------
    

Two mineralized samples of bedrock were also recovered from Trench 3, situated 10 metres west of the previously mined pit. The samples carry significant grades of gold-silver-copper-cobalt. The cobalt enrichment may indicate a genetic relationship with the mineralization at the Captain deposit, located about 1.6 kilometres to the south. It is important to note that the cobalt grade (0.127% = 3 lbs. per tonne) is higher than the Captain Deposit (0.046% = 1.1 lb./tonne). The presence of cobalt in the CNE pit area was not previously known.

    
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         Sample        Gold, g/t       Silver, g/t     Copper, %    Cobalt, %
    -------------------------------------------------------------------------
    CNECuZone22812(A)     1.38            31.8           0.69        0.126
    -------------------------------------------------------------------------
    CNECuZone22812(B)     1.93            30.7           0.37        0.128
    -------------------------------------------------------------------------
    

Approximately 39,000 tonnes of CNE massive sulphide ore were extracted in 1990-1992 and custom milled at Noranda's Heath Steele Mines, with production grades of 9.97% zinc, 4.42% lead, and 134.7 g/t silver. The deposit is open to the southwest and to depth, but insufficient information is available to define a resource at this stage. A number of holes will be drilled in this area.

Exploration has been partly funded by a grant awarded to Stratabound under the Province of New Brunswick's Junior Mining Assistance Program.

The technical information contained in this release has been reviewed by John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified Persons as defined in National Instrument 43-101.

Stratabound is a Canadian natural resource company exploring and developing 100%-owned gold and base metal properties in eastern Canada. It is currently focused on building a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

Certain information regarding the Company contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. The Company is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks and the ability of the Company to raise necessary funds for exploration. The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE Stratabound Minerals Corp.

For further information: For further information: Stan Stricker, P. Geol, President, (403) 258-3630, info@stratabound.com, www.stratabound.com

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