StrataGold Corporation announces positive Preliminary Economic Assessment on the Mar Tungsten Deposit, Yukon by 24hgold

December 1, 2008

STRATAGOLD ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT ON THE MAR-TUNGSTEN DEPOSIT, YUKON

December 1, 2008 - Vancouver, BC - StrataGold Corporation (SGV-TSX) is pleased to announce the release of a positive National Instrument (NI) 43-101 Preliminary Economic Assessment (PEA) on its 100% owned Mar-Tungsten Deposit located within the Dublin Gulch property, Yukon Territory. The PEA was produced by SRK Consulting (US) Inc. (SRK).

PEA Highlights

The PEA demonstrates a pre-tax internal rate of return (IRR) of 15.5% and a net present value (NPV) of US$24 million at an 8% discount rate.
The PEA estimates total mine production of 45,725 tonnes of WO₃concentrate with an average grade of 58% WO₃ during an 11 year mine life (2.651 million metric tonne units (MTU) of WO₃).
Mining and milling on a year-round basis at a production rate of 3,000 tonnes per day and a strip ratio of 6.7:1.
Total capital costs including closure are estimated at US$76.1 million including the processing plant estimated at US$41.8 million (including 35% contingency) and capital costs for infrastructure and support facilities estimated at US$13.1 million (including 30% contingency). This includes the construction of a 20 kilometre long power line connecting to the existing Yukon power grid.
Operating costs over the life of mine are estimated to be US$38.12/tonne or US$6.43/lb-WO₃.
Processing will include a combination of gravity concentration and flotation with an overall recovery of 80-85% achievable with 60-65% from gravity and an additional 20% from flotation.

Assumptions

The revenue model assumes an ammonium paratungstate (APT) price (the marketable intermediary of tungsten) of US$253 per metric tonne unit (MTU) or US$11.50 per pound (lb). The projected WO₃ concentrate price is 85% of the APT price.
Average tungsten recovery of 82.5% was used.

Mining
Mining of the Mar-Tungsten Zone will be a conventional open pit truck and shovel operation, with the necessary support equipment. Mining operations are characterized by a moderate stripping ratio pit consisting of skarn hosted tungsten mineralization located on a plateau 2.5 km west of the Eagle Zone gold deposit. It has been assumed that a mining contractor will execute the mining of the mineralized material and waste material. The preliminary pit design was determined to be approximately 0.5 kilometre (km) in diameter, 250 metres (m) deep with a volume of 27.6 million m³. The operation would originally start with three 100 tonne trucks, plus support equipment, with additional units added over the life of mine to make up fleet requirements.

Pit Design Results


Mill Total throughput	9,868,551 tonnes
Mill Throughput per year	1,020,000 tonnes (3,000 tonnes per day)
Waste Total	66,071,293 tonnes
Strip Ratio	6.70:1
WO₃ Grade	0.33%
Contained WO₃	70,856,775 pounds

Process and Infrastructure
The indicated process flow sheet at Mar-Tungsten would include:

Blending of run of mine ore to provide a consistent WO? feed-grade to the processing plant
Primary crushing using a jaw crusher
SAG-ball mill grinding
Gravity concentration
Sulphide and non-sulphide flotation with re-grind mill
WO? final concentrate thickening, filtering and packaging
Tailings thickening and disposal

Access to the property is via road 35 km north of Mayo via Highway 2 and then proceeds along the South McQuesten Road for 46 km of which the last 25 km is not maintained but in good repair. Mayo is located 350 km north of Whitehorse. An existing 69 kVa power line runs within 20 km of the project.

Updated Mar-Tungsten Deposit Resource Statement¹

The mineral resource has been restated from the news release of October 16, 2008 and has resulted in an overall increase of 89% to the Indicated Resource from the resource statement reported on January 15, 2008. The previously announced resource statement on October 16, 2008 contained a Company conversion error of W to WO₃ grades on 2008 drill results and the grade shell was reduced from 0.1% to 0.05% WO₃.

Resource Category	Total Tonnes	% WO₃ Grade^*	Contained WO₃ (pounds)	WO₃ MTU's (metric tonne units**)
Indicated	12,700,000	0.31	86,200,000	3,909,000
Inferred	1,300,000	0.30	8,900,000	403,000

* A cut-off grade of 0.10% WO₃ was used for this resource statement with a categorical indicator technique to develop a 0.05% WO? grade shell used to limit the projection of mineralization.
** An MTU is defined as 1/100^th of a metric tonne or 22.05lbs.

1: Notes
a) Drilling has been audited and validated by SRK in accordance with CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and with National Instrument 43-101 guidelines by Dr. Bart Stryhas, PhD, an independent Qualified Person as defined by NI 43-101.
b) The resource estimation employed a categorical indicator approach based on a 0.05% WO₃ cut-off. Grade estimation was made using an inverse distance squared algorithm within blocks having a probability of 50% and higher.
c) Drill hole WO₃ assays were composited into 2 m down hole lengths and capped at 3%.
d) Tonnage was estimated based on a specific gravity assigned by rock type and alteration type. The specific gravities ranged between 2.7 and 2.9 g/cm3.
e) Mineral resources are not mineral reserves and do not have demonstrated economic viability.
f) Mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves by Dr. Bart Stryhas, PhD, an independent Qualified Person as defined by NI 43-101.
g) SRK is not aware of any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues that could potentially affect this estimate of mineral resources. The mineral resources may be affected by subsequent assessments of mining, environmental, processing, permitting, taxation, socio-economic and other factors. There is insufficient information at this early stage of study to assess the extent to which the resources will be affected by these factors, which are more appropriately assessed in a conceptual study.
h) The Preliminary Economic Assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the Preliminary Economic Assessment will ever be realized.
i) The Preliminary Economic Assessment and Mineral Resource statement are effective December 1, 2008.

Recommendations
The Mar-Tungsten Deposit has excellent opportunities for significant resource expansion. The mineralization is defined over an 800 metre strike length and remains open in several directions. Exploration drilling is warranted on the north and south extensions of the mineralization and further down-dip to the west. A program of 4840 m of Diamond drilling is recommended to delineate the limits of mineralization which can be recovered by open-pit mining. An additional 2650 m of Diamond drilling (not included in budget) is recommended to define exploration potential to the west and on other targets in the area.

SRK recommends the commencement of a Pre-Feasibility study which would include additional metallurgical test work, geotechnical drilling and data collection, groundwater monitoring and dewatering wells and environmental monitoring and additional baseline work.

Program	Cost (US $ millions)
Exploration Drilling 4840 metres - 25 holes	3.20
Metallurgical Studies	0.25
Geotechnical Drilling (4 holes)	0.50
Tailings Trade off study and site geotechnical studies	0.20
Groundwater Monitoring and Dewatering Wells (6 holes)	0.60
Environmental Monitoring and Baseline Work	0.75
Pre-Feasibility Study (12-18 months)	1.25
Total Recommended Work Plan	6.75

The Company deems the equity markets all but closed with respect to financing near-term exploration and development activities. In this environment, StrataGold continues to explore strategic alternatives and will continue to seek options that are in the best interest of our shareholders and in particular the advancement of the Mar-Tungsten Deposit.

About StrataGold Corporation
StrataGold is a gold development company focused on the systematic exploration and development of two advanced-stage gold projects, Dublin Gulch, Yukon (including the Eagle Zone and Mar-Tungsten Deposits), Tassawini, Guyana and the BRL Venture with Newmont in Guyana. To obtain additional information, photos, project updates and maps pertaining to this news release, please visit: www.stratagold.com.

For further information, please contact:
Terry Tucker, President and CEO
Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Tel: 604-696-6601
E-mail: info@stratagold.com
Website: 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," "aims," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such information constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this document include statements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has an interest; the Company's statements regarding estimates of resources on properties in which the Company has an interest and various statements describing the results of the Preliminary Assessment. 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; uncertainties involved in the estimation of resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; 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; risks associated with title to mineral properties; and other risks and uncertainties discussed under the heading "Risk Factors" in Section 5 of the Company's Annual Information Form filed on SEDAR 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. Except as expressly required by applicable securities laws, the Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.This news release uses the terms "Inferred Resource", "Indicated Resource" and "Mineral Resource". The Company advises readers that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined and permitted under National Instrument 43-101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The Mineral Resources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. The determination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio-political, and marketing issues.

This news release uses the terms "Inferred Resource", "Indicated Resource" and "Mineral Resource". The Company advises readers that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined and permitted under National Instrument 43-101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The Mineral Resources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. The determination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio-political, and marketing issues.

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