Strait samples 15% zinc over 2.0 metres, 989 g/t silver over 1.5 metres on new polymetallic zone at Alicia

TSX-V: SRD

TORONTO, Dec. 10, 2012 /CNW Telbec/ - Strait Minerals Inc. (TSXV: SRD) is pleased to report results of recent chip sampling from a previously unexplored area of its Alicia property in Peru. Highlights include 15.12% zinc, 989 grams per tonne (g/t) silver, greater than 30% lead, 3.27 g/t gold and 5.8% copper (see table below).

The sampling program was conducted in the vicinity of old workings in the southeast quadrant of the 26-sq.-km property. High-grade polymetallic veins were noted in this area by the Company in a NI 43-101 technical report dated October 17, 2009, but no further work was conducted here by the Company until now. The results indicate significant values of gold, silver, lead, zinc and copper associated with breccias and mantos in altered limestone over an area of approximately 1,500 by 1,000 metres.

"This polymetallic mineralization appears to be quite significant in its own right, but it is also consistent with the geological model of the central intrusive complex at Alicia, a porphyry copper-gold system about 1.5 km to the north, where we have focused our efforts to date," said Strait Minerals President Jim Borland. "We are in an area of Peru where some very large mineral deposits have been outlined and this newly identified zone is encouraging."

A total of 73 chip samples from mantos and breccias were taken over widths of 0.5-6.0 metres. Quartz diorite porphyry dikes and sills that appear to be related to the mineralization were also sampled. Assay results show high values of lead (<0.01 to >30%), zinc (0.01 to 15.12%) and silver (0.3 to 989 grams per tonne) as well as significant values of gold (<0.1 to 3.27 grams per tonne) and copper (<0.01 to 5.8%).

Mantos are typically 1.0-2.5 metres wide, but can reach up to eight metres in width. Breccias are generally 1-2 metres wide but can reach up to six metres. Mantos are typically spaced 6-10 metres apart, with thinner bands in between. Both mantos and breccias are composed of granular silica, chalcedony and jasper with realgar and well crystallized barite in places.

The mineralization trends northeast-southwest and remains open in both directions.

The Company has been conducting a sampling program over the entire Alicia concession as part of a work program funded by Teck Peru S.A. ("Teck"), a wholly owned subsidiary of Teck Resources Limited. Under the terms of its option agreement with the Company, Teck must spend $30 million on exploration (or spend $10 million on exploration plus deliver a prefeasibility study) to earn a 75% interest in the property.

                                 
Sample #   UTM Coordinates   width   Au   Ag   Pb   Zn   Cu
    easting   northing   m   g/t   g/t   %   %   %
R10711   179030   8439508   2.00   0.239   36.0   2.36   0.62   0.36
R10712   178434   8439447   2.00   0.008   12.0   0.65   2.31   0.01
R10714   178328   8438938   4.00   0.128   30.4   0.26   0.15   0.01
R10715   178330   8438934   4.00   0.316   45.3   0.27   0.19   0.01
R10716   178332   8438930   3.00   0.222   34.6   0.08   0.06   0.00
R10717   178334   8438924   4.00   0.178   2.7   0.03   0.11   0.00
R10719   178227   8438560   2.20   0.254   25.4   2.33   1.70   0.05
R10720   178275   8438585   3.00   1.255   42.6   2.23   0.83   0.05
R10721   178279   8438586   2.00   0.817   26.1   2.89   0.96   0.03
R10722   178291   8438471   3.00   1.545   93.6   9.03   0.96   0.55
R10723   178351   8438503   1.00   2.598   74.2   14.76   0.03   0.37
R10724   178355   8438410   2.00   2.625   110.0   11.75   5.37   0.50
R10725   178544   8438309   3.00   0.136   6.9   0.13   0.35   0.26
R10726   178678   8438273   2.00   0.080   4.7   0.12   0.06   0.35
R10730   180422   8437291   3.00   0.078   0.5   0.01   0.02   0.73
R10731   179403   8438019   2.00   0.070   0.5   0.02   0.04   0.01
R10732   179396   8438000   2.00   0.121   0.8   0.05   0.03   0.02
R10733   178427   8438570   0.90   1.617   63.4   9.66   6.74   0.38
R10734   178477   8438576   0.60   1.292   199.0   28.18   0.10   0.73
R10735   178347   8438628   1.60   0.178   18.2   2.84   0.84   0.02
R10736   178359   8438632   2.50   2.174   20.8   3.26   1.25   0.11
R10737   178378   8438646   0.80   1.333   147.0   15.46   4.53   2.40
R10739   178388   8438722   1.50   1.297   148.0   23.88   0.33   0.69
R10740   178374   8438857   2.50   0.250   877.0   4.47   3.51   0.16
R10741   178440   8438793   1.20   2.299   50.8   7.23   7.32   0.04
R10742   178512   8438696   1.20   3.179   201.0   8.96   0.90   2.30
R10743   178517   8438708   1.50   1.541   989.0   18.24   0.57   2.85
R10744   178513   8438712   1.00   0.728   319.0   >30.00   0.23   1.48
R10745   178606   8438828   2.50   2.085   169.0   16.11   12.66   0.39
R10746   178720   8438737   1.00   1.049   68.4   10.00   0.50   0.06
R10747   178600   8438640   0.80   0.025   14.4   1.59   1.11   0.01
R10749   178617   8438506   1.00   0.385   19.2   2.82   1.93   0.03
R10750   178577   8438370   0.50   0.220   26.4   6.36   0.11   0.09
R10751   178719   8438050   0.50   3.272   8.2   0.06   0.24   2.01
R10752   178670   8438025   0.80   3.164   17.7   0.09   0.12   5.80
R10753   178672   8438640   0.80   0.032   21.0   1.89   0.15   0.01
R10754   178701   8438562   1.20   1.266   89.4   12.56   2.64   0.87
R10755   178831   8438675   3.00   0.401   49.3   4.83   0.11   0.20
R10756   178970   8438722   3.00   0.342   268.0   5.40   1.96   0.27
R10757   178985   8438839   1.00   0.523   38.7   1.52   0.15   0.10
R10759   178941   8438901   2.40   0.435   51.5   0.61   0.82   0.15
R10760   178790   8438536   6.00   0.024   0.4   <0.01   0.01   <0.01
R10761   178780   8438190   1.00   0.209   390.0   0.18   0.22   1.38
R10762   178771   8438293   2.00   1.347   124.0   0.93   0.28   0.47
R10763   178746   8438435   0.80   0.158   13.2   0.62   0.07   0.36
R10764   179098   8438716   2.00   0.351   187.0   3.34   15.12   0.09
R10765   179040   8438709   2.50   0.003   1.0   0.01   0.02   <0.01
R10766   179100   8438600   0.15   0.050   4.8   0.18   0.16   <0.01
R10767   179006   8438544   0.70   0.378   25.6   2.64   0.76   0.18
R10769   178925   8438478   2.00   0.106   1.8   0.13   0.24   0.03
R10770   178880   8438552   3.00   0.234   5.6   0.30   0.31   0.04
R10771   178945   8438405   0.80   0.669   10.4   0.78   0.33   0.17
R10772   178830   8438335   0.60   0.003   0.3   0.01   0.02   <0.01
R10773   178820   8438461   1.20   0.007   3.5   0.01   0.01   0.01
R10774   178841   8438525   1.50   0.010   1.0   0.06   0.07   0.01
R10775   178840   8438650   0.80   1.132   30.2   2.81   0.26   0.06
R10776   178965   8438844   1.00   0.911   885.0   2.38   0.03   0.14
R10777   179120   8438810   0.80   0.003   1.9   0.01   0.01   <0.01
R10779   178516   8439000   2.20   0.003   1.9   0.07   0.08   <0.01
R10780   178455   8439034   3.00   0.213   107.0   0.69   0.38   0.02
R10781   178456   8439038   3.00   0.024   145.0   1.21   0.32   0.04
R10783   178364   8439216   0.60   0.009   1.1   0.03   0.05   <0.01
R10784   178566   8439035   0.50   0.098   74.7   0.21   0.80   0.05
R10785   178655   8438972   0.80   0.039   15.9   1.94   1.85   <0.01
R10786   178610   8438900   1.50   0.42   149   7.37   6.42   0.07
R10787   178695   8439032   2.00   0.04   13.0   0.42   0.48   0.02
R10788   178655   8439222   2.00   0.085   51.8   0.30   0.68   0.01
R10789   178843   8439305   2.00   0.01   2.3   0.02   0.17   0.02
R10790   178937   8439330   2.00   <0.005   1.0   <0.01   0.03   <0.01
R10791   179091   8439264   2.00   0.052   19.5   0.16   0.13   0.02

Quality Control and Quality Assurance
All sampling at Alicia is supervised by Strait Minerals personnel. Samples are placed in plastic sample bags that are closed with single use plastic ties. Samples are securely stored in a locked room prior to transportation to Cusco by Strait Minerals personnel. Samples are sent to AcmeLabs in Lima for preparation before being couriered to the AcmeLabs in Santiago for assay. Acme's Santiago facility is an ISO 9001:2000 registered laboratory. Samples are analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for samples exceeding the upper limit of analysis (over limit). Silver, copper, molybdenum, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Samples with silver, lead, zinc and copper assays above the upper limit for the ICP-AES technique were re-assayed by atomic absorption (AA). Strait Minerals routinely carries out a program of quality assurance/quality control (QA/QC) that includes insertion of blanks, standards and duplicates into the sample stream to verify results prior to dissemination.

All of the Company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101 and is a director of the Company. Dr. Moss has reviewed and approved the technical content of this news release.

About Strait Minerals Inc.
Strait Minerals Inc. is a Canadian mineral exploration company active solely in Peru since 2003 and listed on the TSX Venture Exchange. It holds a 55% interest with an option to increase that interest to 100% in the Alicia copper-gold property which lies within the Andahuaylas-Yauri copper belt approximately 500 km southeast of Lima. Strait has granted Teck Peru S.A., a wholly owned subsidiary of Teck Resources Limited, an option to earn up to a 75% interest in the property by, among other things, spending $30 million on exploration or by spending $10 million on exploration and delivering a pre-feasibility study. The Company also holds an option to earn a 100% interest in the Caribe copper-molybdenum property approximately 80 km west of Alicia and holds a 100% interest in both the Letra Rumi South base metals property and the Culebrilla precious metals property approximately 250 km north of Lima. The Company continuously reviews exploration opportunities in Peru and is actively seeking additional projects. Please visit our web site at www.straitminerals.com.

Forward Looking Statement: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties.  Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks.  The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements.  Strait undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Strait Minerals Inc.

For further information:

Jim Borland, President
jborland@straitminerals.com
Tel.: 416-223-9970

Renmark Financial Communications Inc.
Robert Thaemlitz: rthaemlitz@renmarkfinancial.com
Bettina Filippone: bfilippone@renmarkfinancial.com
Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

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