Stratabound Reports Captain Property Copper-Cobalt Resource Estimate



    
    SB: TSX Venture Exchange                       Issued: 37,124,702 shares
    

    CALGARY, Oct. 29 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased
to report the results of an initial mineral resource estimate on the company's
100%-owned Captain copper-cobalt deposit located in the Bathurst Mining Camp
of northeastern New Brunswick. The estimate was prepared by Mercator
Geological Services Limited, an independent geological consulting firm based
in Dartmouth, Nova Scotia.
    The Captain resource estimate reflects mineralization defined by results
of 25 diamond drill holes completed by Stratabound during a 2007-08 core
drilling program to a vertical depth of approximately 300 metres.
    The Captain deposit remains open down dip, and drilling to date has
outlined a maximum mineralized strike length of about 150 metres at a depth of
approximately 80 metres below surface. Opportunity exists to expand the
resource by drilling down dip, as well as to expand the deposit's strike
length through additional drilling at depth to both the north and south.
    Part of the deposit is considered by Stratabound to have open pit
development potential, and resources at the 0.60% copper equivalent(*) cut-off
were estimated to allow future assessment of such potential. The higher
cut-off grade of 1.4% was selected to allow future assessment of resources
with potential for underground development. Results of the resource estimate
are presented in the table below, along with a summary of estimated in-situ
metal content at the various resource cut-off grades. Since no metal recovery
factors have been applied to the figures, they should not be interpreted as
estimates of recoverable metal.

    
    Captain Cu-Co Deposit Mineral Resource Estimate, Effective October 28th,
    2008(*)(*)

    -------------------------------------------------------------------------

    Cut-off      Resource         Rounded           Cu           Co      Au
    Cu Eq.(*)    Category          Tonnes            %            %     g/t
    -------------------------------------------------------------------------
                 Measured          53,000         1.14        0.061    0.21
                 ------------------------------------------------------------
                 Indicated        808,000         1.10        0.051    0.22
                 ------------------------------------------------------------
    0.60%        Measured
                    +
                 Indicated        861,000         1.10        0.052    0.22
                 ------------------------------------------------------------
                 Inferred         681,000         0.60        0.039    0.12
    -------------------------------------------------------------------------


    ----------------------------------------------------------------
                                Contained    Contained    Contained
    Cut-off      Resource         Cu kg        Co kg        Au g
    Cu Eq.(*)    Category        (Cu lb)      (Co lb)      (Au oz)
    ----------------------------------------------------------------
                                  604,200       32,330       11,130
                 Measured      (1,332,019)     (71,275)        (358)
                 ---------------------------------------------------
                                8,888,000      412,080      177,760
                 Indicated    (19,594,485)    (908,472)      (5,715)
    0.60%        ---------------------------------------------------
                 Measured
                    +           9,471,000      447,720      189,420
                 Indicated    (20,879,767)    (987,044)      (6,090)
                 ---------------------------------------------------
                                4,086,000      265,590       81,720
                 Inferred      (9,007,996)    (585,520)      (2,627)
    ----------------------------------------------------------------


    -------------------------------------------------------------------------
    Cut-off      Resource         Rounded           Cu           Co      Au
    Cu Eq.(*)    Category          Tonnes            %            %     g/t
    -------------------------------------------------------------------------
                 Measured          38,000         1.50        0.061    0.26
                 ------------------------------------------------------------
                 Indicated        543,000         1.51        0.049    0.28
                 ------------------------------------------------------------
    1.00%        Measured
                    +
                 Indicated        581,000         1.51        0.050    0.28
                 ------------------------------------------------------------

                 Inferred         192,000         1.14        0.040    0.21
    -------------------------------------------------------------------------


    ----------------------------------------------------------------
                                Contained    Contained    Contained
    Cut-off      Resource         Cu kg        Co kg        Au g
    Cu Eq.(*)    Category        (Cu lb)      (Co lb)      (Au oz)
    ----------------------------------------------------------------
                                  570,000       23,180        9,880
                 Measured      (1,256,622)     (51,103)        (318)
                 ---------------------------------------------------
                                8,199,300      266,070      152,040
                 Indicated    (18,076,177)    (586,578)      (4,888)
    1.00%        ---------------------------------------------------
                 Measured
                    +           8,773,100      290,500      162,680
                 Indicated    (19,341,176)    (640,436)      (5,230)
                 ---------------------------------------------------
                                2,188,800       76,800       40,320
                 Inferred      (4,825,428)    (169,313)      (1,296)
    ----------------------------------------------------------------


    -------------------------------------------------------------------------

    Cut-off      Resource         Rounded           Cu           Co      Au
    Cu Eq.(*)    Category          Tonnes            %            %     g/t
    -------------------------------------------------------------------------
                 Measured          25,000         1.99        0.060    0.31
                 ------------------------------------------------------------
                 Indicated        397,000         1.81        0.047    0.33
                 ------------------------------------------------------------
    1.40%        Measured
                    +
                 Indicated        422,000         1.82        0.048    0.33
                 ------------------------------------------------------------

                 Inferred          94,000         1.57        0.034    0.29
    -------------------------------------------------------------------------


    ----------------------------------------------------------------
                                Contained    Contained    Contained
    Cut-off      Resource         Cu kg        Co kg        Au g
    Cu Eq.(*)    Category        (Cu lb)      (Co lb)      (Au oz)
    ----------------------------------------------------------------
                                  497,500       15,000        7,750
                 Measured      (1,096,789)     (33,069)        (249)
                 ---------------------------------------------------
                                7,185,700      186,590      131,010
                 Indicated    (15,841,594)    (411,356)      (4,212)
    1.40%        ---------------------------------------------------
                 Measured
                    +           7,680,400      202,560      139,260
                 Indicated    (16,932,210)    (446,564)      (4,477)
                 ---------------------------------------------------
                                1,475,800       31,960       27,260
                 Inferred      (3,253,549)     (70,459)        (876)
    ----------------------------------------------------------------
    (*)    Copper Equivalent % = Cu % + (Co % X 9.25). The 9.25
           factor represents the relative price of Co compared to Cu based on
           3 year average metal pricing with no metal recovery factors
           applied.

    (*)(*) The resource estimate is considered compliant with both Canadian
           Institute of Mining, Metallurgy and Petroleum Standards on Mineral
           Resources and Reserves Definitions and Guidelines (the CIMM
           Standards) and reporting requirements of National Instrument
           43-101.
    


    The deposit is interpreted as a deformed volcanogenic massive sulphide
stockwork zone hosted by deformed, Ordovician age strata that strike northwest
and dip steeply to the southwest in the deposit area.
    Two generally tabular bodies of higher grade copper mineralization form
the core of the deposit and are in part coincident with two larger,
sub-parallel zones of lower grade cobalt mineralization. Gold is present at
low levels throughout the deposit, with higher grades tending to occur in
areas of higher copper grades.

    Resource Estimate Methodology

    The resource estimate is based on a three dimensional block model of the
deposit developed by Mercator using Surpac(C) Version 6.1 deposit modeling
software. Validated results for 25 diamond drill holes by Stratabound were
used in the model and four higher grade mineralized zones were modeled
separately, with grade interpolation in all cases being constrained within
three dimensional solids reflecting cutoff parameters of 0.60% Cu or 0.05% Co
over 4 metre down hole sample composite lengths. A peripheral deposit
constraint reflecting a 0.60% Cu Equivalent envelope was used to limit
interpolation of Cu and Co grades outside the higher grade solids. Au values
were interpolated in conjunction with Cu values. Inverse Distance Squared
(ID2) interpolation was used with a block size of 2.0 meters x 2.0 meters x
2.0 meters and 1.0 meter x 1.0 meter x 1.0 meter sub-blocking. Grade
interpolation ellipse ranges were based on variogram analysis and specific
gravity (SG) values were calculated from block grades using the linear
regression formula SG = 2.85 + (0.1263 x Cu Eq %).
    Measured category mineral resources are defined by those model blocks
within the four higher grade solids for which the averaged distances to 7 or
more required supporting composites from three separate drill holes was
31.25 metres or less, with distance to the nearest supporting composite being
12.5 metres or less. Indicated category mineral resources are defined by those
model blocks within the higher grade solids for which the averaged distances
to 7 or more required supporting composites from three separate drill holes
was 62.5 metres or less, with distance to the nearest supporting composite
being 41.7 metres or less. Inferred category mineral resources include all
other blocks within the peripheral constraint having interpolated metal
grades.
    The drilling program carried out by Stratabound in 2007-2008 included
Quality Control and Quality Assurance protocols that incorporated systematic
insertion of independent analytical standards and blanks plus duplicate sample
analyses and independent check sample analyses.
    Michael P. Cullen, M.Sc., P. Geo., Senior Geologist at Mercator
Geological Services Limited, is the Qualified Person as defined under NI
43-101 who supervised and is responsible for the Captain deposit resource
estimation program and, in conjunction with estimate co-author Mr. Matthew
Harrington, B.Sc (Hons.), Project Geologist, has reviewed and approved the
related technical information presented in this news release.

    
    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.





For further information:

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

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