STK-V - Strike Minerals 298g/t Gold per tonne

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Strike Minerals Inc
Symbol STK
Shares Issued 36,491,719
Close 2009-06-09 C$ 0.03
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Strike Minerals drills 0.4 m of 298 g/t Au at Nicholson


2009-06-09 19:49 ET - News Release

Mr. Denis Crane reports

STRIKE MINERALS INC. (STK-TSXV) INTERSECTS 298.43 GPT AU OVER 0.46 M AT A VERTICAL DEPTH OF 40.5 M ON MAIN SHOWING OF NICHOLSON GOLD PROPERTY

Strike Minerals Inc. has released results from the recently completed diamond drill program on the main showing of the Nicholson gold property located north of Missinabie, Ont.

In October, 2008, Strike Minerals acquired an option on the Nicholson gold property after initial investigation and surface grab samples returned grades as high as 188.92 grams per tonne gold. In November, 2008, a channel sampling program over the main showing returned individual assays as high as 112.10 grams per tonne gold over 0.46 metre. Sampling of the south-east portion of the showing returned a weighted average grade of 14.77 grams per tonne gold over 1.52 metres for 57.3 metres, and sampling of the northwest portion of the showing returned a weighted average grade of 8.95 grams per tonne gold over 1.52 metres for 16.3 metres.

The Nicholson gold property lies in the eastern portion of the Wawa (Michipicoten) greenstone belt and is underlain predominantly by intermediate to felsic metavolcanics. Northwest-trending shear zones and tension shears have been identified hosting pinch and swell quartz veining with sulphides, and in some instances, visible gold.

In late May, 2009, Strike Minerals completed a diamond drill program on the main showing consisting of 30 drill holes for 1,153.2 metres. The program was developed to test for gold mineralization along the length of the main showing at staggered vertical depths from 10 to 55 metres.

The drilling program was carried out by Superior Diamond Drilling of Sault Ste. Marie, Ont., providing NQ-sized core.

All samples of diamond drill core taken during the program were assayed for gold by Swastika Laboratories of Swastika, Ont., an accredited laboratory. Accurassay Laboratories of Thunder Bay, Ont., provided certified reference material of three standards which were inserted into the sampling stream every 20 samples to provide a quality assurance check of the Swastika Laboratory results.

Two of the 30 diamond drill holes did not reach the targeted depth, and one hole had to be abandoned due to caving.


SUMMARY OF SIGNIFICANT INTERSECTIONS
NICHOLSON MAIN SHOWING DIAMOND DRILL PROGRAM

Hole No. Location Azimuth Dip Length (m) From (m) To (m) Grade (g/t)

N-1-09 0+10W 0+30N 190 -46 0.80 22.40 23.20 3.79
N-3-09 0+50W 0+33N 225 -47 1.50 10.10 11.60 6.37
N-4-09 0+75W 0+40N 252 -60 0.76 26.06 28.82 5.49
N-7-09 0+50W 0+35N 225 -70 0.30 15.85 16.15 12.82
N-9-09 0+50W 0+35N 244 -70 1.82 25.91 27.89 1.72
N-10-09 0+50W 0+30N 190 -47 1.83 14.93 16.76 3.02
N-11-09 0+50W 0+30N 190 -70 0.46 24.53 24.99 1.99
N-13-09 1+50W 0+43N 258 -52 0.91 28.50 29.41 12.04
N-25-09 3+25W 0+39N 255 -67 0.60 46.02 46.62 1.94
N-26-09 2+40W 0+85N 225 -55 0.46 49.44 49.90 298.43
N-29-09 0+44W 0+85N 225 -68 1.52 57.00 58.52 3.70
N-30-09 1+50W 0+61N 186 -56 1.52 39.47 40.99 9.94


It is evident that gold distribution within the pinch and swell quartz veining is random and exhibits the nugget effect, however, Strike Minerals management is encouraged by the geological environment, the continuity of the veining system, and the numerous instances of visible gold. The quartz veining and gold grades have been traced over 140 metres on strike and there is potential for the zone to continue to both the northwest and southeast.

In recognition of the potential for the continuation of the zone, Strike Minerals entered into an option agreement with Golden Chalice for claims surrounding the current Nicholson property (see press release dated March 31, 2009, as reported in Stockwatch).

Strike Minerals is currently compiling all data from the drill program.

Technical information contained in this news release was prepared by Strike Minerals management and approved by Robert Hill, PEng, a qualified person for the purposes of National instrument 43-101. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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