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Stratabound Minerals Receives Initial Exploration Results from Captain Copper-Cobalt Deposit

Stratabound Minerals Corp. (TSXV: SB) has presented results of its initial exploration program on 50 claims optioned from Commander Resources Ltd. extending north from its Captain/CNE claim groups and CNE Mining Lease near Bathurst, New Brunswick.

The program included grid cutting and geophysical surveys over approximately 20% of the optioned property and delineated a strong HLEM (MaxMin) conductor at least 1,200 metres in length, coincident with IP chargeability and MEGATEM anomalies.  A known copper-cobalt showing ("Stewart occurrence") is located in the northern portion of this conductor. This occurrence is along the same IP trend associated with Stratabound's 100%-owned Captain copper-cobalt deposit, situated 4.8 km to the south.

Four holes were drilled, totaling 1,064 metres.  The first two holes were collared about 125 metres southwest of previously drilled hole 97-8 (1.04% copper over 25.5m), and 35 metres southwest of hole 97-10 (1.24% copper over 27.2m, including 13.25m grading 2.57%).

Hole 1 intersected 3.5m grading 2.07% copper, including 2.0m of 3.03% copper, immediately below 1.5 metres of overburden, but the hole deviated and drifted above the targeted south extension of hole 97-10.

Hole 2, drilled from the same location with a steeper inclination, was intended to hit the 97-10 zone at about 185 metres core length.  At 137m the rods became stuck and the hole was abandoned before reaching the intended target.  However, the drill hole intersected copper-cobalt-silver sulphide mineralization from surface down to 90 metres with the following assay results:

The sulphides are present within strongly chloritized quartz-feldspar crystal tuff ("quartz augen schist") of the Nepisiguit Falls Formation.  This unit has long been known to host base metal deposits in the Bathurst Mining Camp, including Stratabound's Captain Deposit.

The lengths tabulated above are measured core intervals.  The mineralization is contorted and generally transposed parallel to the local foliation.  Core angles suggest the apparent widths are exaggerated, but the mineralized structure controls are not yet understood and true thicknesses are unknown.

The Stewart mineralization resembles that at Captain, occurring as stringer-type pyrite-chalcopyrite veins, disseminations, and splashes.  Accessory amounts of silver, gold and zinc accompany the copper and cobalt.

A third hole was drilled 700 metres south of holes 1 and 2 along the MaxMin/MEGATEM/IP conductor, intersecting strongly chloritized tuffs and disseminations and blebs of pyrite-pyrrhotite-chalcopyrite returning no significant assay values.  Hole 4 was collared 150 metres west of holes 1 and 2, cutting similar rocks, with minor sulphides present from 230m-254m, including 10 metres with 13 to 17% total sulphides, returning low copper and cobalt values.

The EM responses are stronger and longer than at the Captain deposit, and have not been adequately explained by the predominantly stringer and disseminated mineralization encountered to date.  A gravity survey is planned to investigate whether massive sulphide mineralization may be present below the intersected stringer network.

Stratabound can acquire up to a 65% interest in this large (800 hectare) claim group from Commander Resources Ltd. of Vancouver over a period of five years or less, and has completed its first year commitment.

Analysis of half-core samples was done by Eastern Analytical Limited of Springdale, Newfoundland.  Stratabound has Quality Control and Quality Assurance protocols in place for drill core that include blank samples, duplicate samples, certified standards and third party check samples.

The technical information contained in this release has been reviewed by John Duncan, P.Geo., a Qualified Person as defined in National Instrument 43-101.

Source: Stratabound Minerals Corp.


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