NEWS RELEASE      2008 -07

 

 

 IN FILL DRILLING RESULTS CONTINUE TO DEMONSTRATE

OXIDE COPPER MINERALIZATION AT EL PILAR, MEXICO

 

 

April 16, 2008 – Toronto, Ontario, Canada Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. (“Stingray”) reports an additional 19 holes, drilled to infill and expand the El Pilar resource. Two drill rigs continue to test the oxidized copper mineralization with vertical, HQ sized drill holes.

 

These new drill holes have been completed on drill sections from 8700 North to 8100 North. The drill holes reported continue to intersect wide intervals of oxidized copper mineralization. Several of these holes are located outside or at the margins of the resource and did not intersect significant copper mineralization. This information is needed to define the limits of the resource. These holes are posted at the Company’s website and a map of the hole locations can be found at the link below or at the Company’s website;

 

http://www.stingraycopper.com/PressReleases/2007-2008_Drilling_Program_Model.pdf

 

 

Copper intervals reported in Table 1 reflect approximate true widths and the principal copper mineral intersected at El Pilar is chrysocolla occurring as intrusive fragments in the host conglomerate. The resource outcrops at the north, and is flat lying to shallowly dipping to the southwest. All drill core samples herein reported have been logged and split by the Company’s staff under the direction of the Company’s geologists and were delivered for assaying to ALS Chemex, Hermosillo, Sonora, Mexico.

 

Table 1:  Inferred Mineral Resource In-Fill Drill Results

 

*    Located outside or at margin of the current resource.

 

 

Stingray has now reported 117 drill holes completed on 18 drill sections from 9300 North to 8100 North. Stingray has completed over 175 drill holes on 100 meter drill section spacing continuing to the south and also at 50 meter drill section spacing in the Starter Pit Area. The NI43-101 compliant inferred mineral resource of 180 million tonnes grading 0.37% total copper calculated at a cutoff of 0.25% total copper is being systematically drilled at minimum 100 meter drill centers along its current 1.2 kilometer length and approximate 400 meter width. At a lower cut-off of 0.20% total copper, the inferred mineral resource is 237 million tonnes grading 0.33% total copper. Stingray is working to reclassify the inferred mineral resource and develop the El Pilar as an open pit, heap leach, solvent extraction–electrowinning (SX-EW) copper mine. Stingray expects to recalculate the El Pilar resource after the completion of the drill program.

 

Stingray is well financed, with approximately $20M in the treasury, to carry out the current technical work that is leading to the feasibility/technical study of El Pilar scheduled for completion in Q1 of 2009. Stingray has been adding the key, experienced professionals needed to the engineering team that is busy directing these technical studies.

 

Peter Mordaunt, P.Geo is the Qualified Person responsible for the technical content of this release.

 

Website: www.stingraycopper.com

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Certain Statements presented herein may constitute “forward-looking statements”.  Such forward-looking statements may include potential mineralization, resources and reserves, conclusions of prefeasibility and feasibility studies, estimates of future production, capital and operating costs, prices of metals and other known and unknown risks.  These and other factors and uncertainties may cause material differences from future results as expressed or implied by these forward-looking statements.  These risks, uncertainties and other factors include but are not limited to the risks involved in the exploration, development and mining business.