..In the southern part of the survey area, another mafic unit is tentatively interpreted as a distal northwestern extension of the subvolcanically injected gabbro that hosts the Rice Lake and adjacent Cartwright deposits. Importantly, this southernmost mafic unit is also cut by the same regional Type-16 structures that are caused by the late stage deformation event that appears to have mineralized the entire central part of the Rice Lake greenstone belt.

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Both of these strong magnetic zones are located in topographic valleys that have not been well prospected due to a lack of outcrops in these areas. This is evident when the magnetic data is overlain on high resolution LiDar topographic data.

The objective of the initial Strike Point property drill program is to investigate the extension of structures that contain gold mineralization on the adjoining San Gold mine lease, specifically, as noted above, the Type-16 vein orientations that cut rock units with high magnetic intensities and exhibiting magnetite destruction where the two features intersect. The two major rock units are intersected by 4 Type-16 vein structures resulting in eight target areas. Structure 1 contains two Priority 1 targets, one Priority 2 target and two Priority 3 targets; Structure 2 contains one Priority 1 target, Structure 3 contains one Priority 4 Target: and Structure 4 contains one Priority 5 target. The three Priority 1 targets will be drilled first, subject to normal logistic factors.

Magnetic and LiDar data maps, as well as structural interpretations and target area locations will be made available at strikepointgold.com

Initial drill hole orientations will be at of 160°, dipping at 45° to intersect the structures at 50-100 m below bedrock. Depending on visual results, additional drilling could be at steeper dips from the same location or along strike. The initial program is tentatively budgeted at 1600m of drilling to be carried out on Structures 1 and 2 to focus on the Priority 1 and 2 targets identified by magnetic patterns. This should allow for about eight holes of 200m for a total budget of $400,000 at an all inclusive price of $250/m. According to the option agreement, San Gold's remaining first year commitment is approximately $400,000. StrikePoint has the right to accelerate exploration by spending its own funds and in doing so will generate additional and equal commitments on the part of San Gold. StrikePoint is currently well financed and intends to aggressively explore throughout 2010.