NEWS RELEASE      2008 -05

 

 

STINGRAY CONSULTANTS FULL SPEED AHEAD ON

 FEASIBILITY STUDY AT EL PILAR, MEXICO

 

 

 

April 7, 2008 – Toronto, Ontario, Canada Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. (“Stingray”) reports; “Stingray is pleased to have the expertise of several experienced consulting firms assisting in the development of the Company’s technical/feasibility study ongoing at the El Pilar copper project. At Stingray, we want our work to be completed by the best professionals – we expect to be a valued and respected participant in the local and regional economies of Santa Cruz and Sonora, Mexico. We will be considerate of all the stakeholders involved in the assessment, development and eventual construction of this potential new copper mine.”

 

“We are delighted to have Independent Mining Consultants, Inc. of Tucson work with our in-house Mining Engineer to review, audit and then prepare a resource calculation followed by ore reserve studies that will include a mine pit design and mining schedule. Stingray anticipates a recalculation of the El Pilar resource after the Company completes the current drill campaign by mid year.

 

Golder Associates Inc., also of Tucson has been tasked with preparing the geotechnical and slope stability studies for the project. Golder is a world renowned firm that has much experience in the Mexican northwest. Phase 1 work will focus on Pit Slope Rock Mechanics, Heap Leach Pad and Pond Layout plus, Waste Rock Stockpiles. In addition, Phase 2 work will culminate in the final report for the Feasibility Study.

 

Patricia Aguayo Hurtado, M.Sc., Environmental Consultant, of Hermosillo is conducting the Company’s baseline and socioeconomic studies and the Environmental Impact Manifest (IMA) in advance of preparing the Company’s applications for all environmental permits necessary for the construction and development of the El Pilar project. Patricia has demonstrated her proficiency, having worked with the Company’s management on previous projects. She has also been active on several other well known mining projects in Mexico that have advanced to production in recent years.

 

Investigacion y Desarollo de Acuiferos y Ambiente (IDEAS) of Hermosillo have begun a hydrological review of the project area to assess the project requirements and sources for water. They will determine the viability and availability of water for the El Pilar project within the Santa Cruz Basin. This work is ongoing and is currently reviewing 882 square kilometers within the basin which is known as a water bearing delta and plane of the Santa Cruz river basin. A geological, geophysical and physiographic analysis within the alluvial sediments is well underway. 

 

Metcon Research Inc. of Tucson has already been engaged to conduct the metallurgical program under the stewardship of Mr. Joseph Keane. This program has been underway since the start of the year and column leach testing will be ongoing throughout the year.

 

Stingray has also engaged several consultants to review trade off studies for the El Pilar project. Among the more important are the trade off of; company verses contract mining, and run of mine (ROM) dump leach verses crushing, conveying and stacking.

 

Furthermore, Stingray has recently completed a preliminary assessment of third party Engineering-Construction firms that would provide the “wrapper” for all internal and external consultants in completing the El Pilar Feasiblity Study. We welcome all our new partners and anticipate their timely contributions to the ongoing assessment of El Pilar.”

 

The El Pilar property hosts an NI43-101 compliant inferred mineral resource of 180 million tonnes grading 0.37% total copper calculated at a cutoff of 0.25% total copper that 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. The resource is open ended to the south and earlier drilling has outlined adjacent horizons of oxidized copper mineralization. Stingray’s objective is to reclassify the resource, then complete a reserve calculation with a mine plan and schedule based on metallurgical test work and other mining related assumptions leading to the completion of a feasibility study and then develop the El Pilar as an open pit, heap leach, solvent extraction–electrowinning (SX-EW) copper mine.

 

Stingray is continuing the drilling program at El Pilar with 2 drill rigs. From the start of the drill campaign in June of 2007 to the Company’s fiscal year end (January 31, 2008), Stingray has drilled 120 drill holes totaling approximately 24,500 meters of HQ core at El Pilar. An additional 50 holes and 10,000 meters have been drilled to the present. Stingray has reported results for 80 drill holes completed on 14 drill sections from 9200 North to 8200 North.  These results are all tabled at the Company’s website as is a location map for drill holes. This resource infill drill program is nearing completion. After program completion, drilling will continue for geotechnical assessment, site sterilization and the drill testing of the El Arriba zone of copper and molybdenum mineralization that is hosted on the property to the north of the El Pilar resource.

 

Stingray is well financed, with approximately $20M in the treasury, to carry out the current technical assessment of the El Pilar copper resource. Stingray has been adding key, experienced professionals to the engineering team that is busy directing these technical studies from the Company’s Hermosillo office.

 

 

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.