Exploration in Peru TSXV: SRD

Exploration in Peru TSXV: SRD

Forward-looking Statements This presentation document contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements. Qualified Person Roger Moss, P.Geo., a director of Strait Gold Corporation is a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, and is responsible for the technical information in this presentation. Mineral Resources Tintaya, Antapaccay and Las Bambas from Xstrata Reserves and Resources As At 30 June 2010 as published by Xstrata plc; the JORC-compliant Competent Person for Las Bambas is Raul Roco and for Tintaya and Antapaccay is Luis Rivera: Haquira from Haquira Technical Report dated Sept. 3, 2010, NI 43-101 compliant QPs are Edwin C. Lips, P.E., and John W. Rozelle, P.G. : Constancia from HudBay Minerals Inc. news release dated Aug. 8, 2012, QP Cashel Meagher, PGeo. Printed October 15, 2012 2

Company Profile TSXV-listed mineral exploration company Active solely in Peru since 2003 Teck funding a 6,000-metre drill program at Alicia (copper-gold) in 2012 Three other projects in Peru: Ø Caribe (copper-moly), option to earn 100% Ø Letra Rumi South (copper-silver), 100% owned, drill targets selected Ø Culebrilla (gold-silver), 100% owned 3

Project Locations Alicia and Caribe Ø 500 km SE of Lima Letra Rumi South and Culebrilla Ø 250 km N of Lima 4

Early stage exploration Ø Highest potential reward Focus on Peru Strategy Ø Favourable geology, economy, mining culture Add value through exploration Alicia (copper-gold) top priority in 2012 Generative program continuing 5

Share structure Shares outstanding 56,862,586 Warrants 3,000,000 Options 4,700,000 Reserved for Alicia option 400,000 Fully diluted 64,962,586 6

Peru s Emerging Copper Belt* Tintaya (105 mt @ 1.16% Cu + 0.2 g/t Au, M&I) Antapaccay (623 mt @ 0.56% Cu + 0.13 g/t Au, M&I) Las Bambas (1,150 mt @ 0.65% Cu + 0.05 g/t Au, M&I) Haquira (570 mt @ 0.64% Cu, M&I) Constancia (403 mt P&P @ 0.35% Cu, 0.04 g/t Au, 96 g/t Mo, 3.25 g/t Ag) *Sources - See Slide 2 7

Alicia Project, access 26-sq-km concession Property boundary Good road to property View of access road. Photo taken from Alicia property. 8

Alicia Project, 2011 drilling 2,000-metre reconnaissance drill program All 15 holes intersected Cu-Au mineralization Results include: Ø 21.2m true width @ 1.27% Cu, 0.13 g/t Au (ALC10-05 - ended in mineraliza@on at 88.7m core length) Ø 129.5m @ 0.33% Cu, 0.04 g/t Au (ALC10-08) Ø 134.0m @ 0.29% Cu, 0.03 g/t Au (ALC11-16) Ø 198.5m @ 0.16% Cu, 0.02 g/t Au (ALC11-17) 9

Alicia combined soil & rock geochemistry 3.6 km 10

Two key thresholds passed at Alicia 1. Is the system mineralized? ü 2011 drilling confirms robust values 2. Is there potential for size? ü 800m long north-west south-east trending mineralized zone in porphyry ü Soil sampling identified a broad copper anomaly defined by >1,000ppm Cu (0.1%) over more than 3.4 km 11

Teck Option Agreement Teck made $600,000 equity investment in Strait at $0.20/Unit To earn 45% Teck must spend $4 million over 2 years, plus exercise three million warrants at 25 (if in 2012) or 35 (if in 2013) To earn 65% Teck must spend a further $6 million and make cash payments to Strait Teck earns 75% after spending $30 million in total or completing pre-feasibility study 1

Plans for Alicia 6,000-metre drill program in 2012 Ø Test porphyry potential based on results of airborne geophysics and geochemistry Ø Initial 15 holes to be drilled on sections spaced 200 metres apart Ø Six holes in the central zone Ø Average depth 350-400 metres. 13

Caribe Project copper values 14

Caribe Project exploration plans Detailed mapping and sampling of porphyry and brecciated porphyry outcrops Soil sampling on southeastern portion which is under cover Ground geophysics induced polarization (IP) and magnetics Establish drill targets initially on enriched copper zone 15

Letra Rumi South Overview 9-sq-km property Copper target with gold, silver values Widespread copper mineralization at surface Average 0.1% Cu from 182 samples with up to 4.4% Cu, 2.5 g/t Au and 77.4 g/t Ag IP suggests depth potential Drill targets selected 16

Culebrilla Sampling Highlights Caballo 2.8 g/t Au, 69 g/t Ag Metal Punta 2.2 g/t Au, 44 g/t Ag Quebrada Ancush 7.5 g/t Au, 364 g/t Ag El Plano 402 g/t Ag, 1.8% Pb Culebrilla 10.0 g/t Au, 200 g/t Ag Alalaj 14.4 g/t Au, 1220 g/t Ag 2.0 % Cu Letra Rumi North 847 g/t Ag, 8.4 % Cu, 1.9 g/t Au, 1 Las Pampas 2.3 % Pb, 1.3 % Zn 17 Note: Grab samples shown with selected results 17 17

18 King St. E., Suite 1203, Toronto, ON M5C 1C4 www.straitminerals.com Jim Borland, President 416-223-9970 jborland@straitminerals.com