Toronto, Ontario, Canada -- (ReleaseWire) -- 06/01/2006 --Stroud Resources Ltd. (TSXV- SDR) ("Stroud" or the “Company”) is pleased to announce that the 2006 exploration program is underway at its Santo Domingo silver project in Central Mexico. The program is intended to further outline the length and depth of mineralization.
Stroud intersected the La Rayas mineralized zone with three drill holes in 1999. In 2005, Stroud with partner Amerix Precious Metals Corporation (“Amerix”) drilled three additional holes, two in the La Rayas mineralization zone and one in the Guadalupe mineralization zone. The two vein system can be traced for more than 700m with depths in excess of 200m. The La Rayas mineralized zone is typically 30 to 35 meters wide and the Guadalupe zone has an observed width in excess of 15 metres. The property has excellent road access and is transected by a high voltage power line and near a major water supply. George Coburn P.Geo., President and CEO of Stroud is the qualified person within the meaning of National Instrument 43-101 for the project.
Drilling contractor Heath & Sherwood have completed equipment and drill rig upgrades to increase drilling versatility and capability for their staff. Stroud is looking forward to a productive year of drilling on the Santo Domingo silver project.
As previously announced, Stroud has successfully raised $4.2 million in a private placement financing to fund the acquisition of the remaining 50% interest in the Santo Domingo project not already owned from Amerix and a continued drilling program on the property.
Stroud is a debt-free exploration company focused on the discovery and exploration of silver and gold deposits in Mexico and Ontario. Stroud owns a 50% interest in the Santo Domingo epithermal silver-gold project in central Mexico. In addition to the Santo Domingo project, Stroud's assets include 100% interests in the Hislop gold property, near Timmins, Ontario and the Leckie gold property, near North Bay, Ontario. Stroud also generates cash flow from a 3.75% interest in four natural gas, and natural gas condensate wells in central Alberta. Stroud's corporate goal is to create a mineral based company with projects that are exceptional, characterized as world-class in status and with the potential for near-term production.
For additional information please contact:
Mr. George Coburn
President and CEO
Stroud Resources Ltd.
(416) 362-4126
g.coburn@stroudresourcesltd.com
or
Mr. Greg Bewsh
Director of Investor Relations
Stroud Resources Ltd.
(416) 362-4128
ir@stroudresourcesltd.com
Or visit: www.stroudresourcesltd.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Diamond Drilling Starts at Stroud's Santo Domingo Silver Project