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TSXV: SRD October 5, 2011

Exploration in Peru's Emerging World-Class Copper Belt. TSXV: SRD October 5, 2011. 1. Forward-Looking Statements.

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TSXV: SRD October 5, 2011

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  1. Exploration in Peru's Emerging World-Class Copper Belt TSXV: SRD October 5, 2011 1 1

  2. 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. 1 2 2

  3. Peru’s Emerging Copper Belt • Tintaya (120,000 tpy Cu in cathode and concentrates) • Antapaccay (1,470 mt resource @ 0.51% Cu) • Las Bambas (1,550 mt resource @ 0.61% Cu) • Haquira (570 mt @ 0.64% Cu M&I plus 406 mt @ 0.58% Inf.) • Constancia (480 mt P&P @ 0.33% Cu, 0.04 g/t Au, plus Mo) 1 3 3

  4. Company Profile • TSXV-listed mineral exploration company • Active solely in Peru since 2003 • Three key projects: • Alicia (copper-gold), 55% interest with option to earn 100%, 5,000-metre drill program planned • Letra Rumi South (copper-silver), 100% owned, drill targets selected • Culebrilla (gold-silver), 100% owned 1 4 4

  5. Share structure Shares outstanding 50,661,786 Warrants19,390,359 Options 3,700,000 Reserved for Alicia option 400,000 Fully diluted (~$4.0 million proceeds)74,152,145 1 5 5

  6. Strategy • Early stage exploration • Highest potential reward • Focus on Peru • Favourable geology, economy, mining culture • Develop pipeline of projects, adding value through exploration • Alicia Project top priority in 2011 1 6 6

  7. Project Locations • Alicia Project • Cusco Region • 500 km SE of Lima • Letra Rumi South and Culebrilla • Ancash Region • 250 km N of Lima 1 7 7

  8. Peru’s Emerging Copper Belt • Tintaya (120,000 tpy Cu in cathode and concentrates) • Antapaccay (1,470 mt resource @ 0.51% Cu) • Las Bambas (1,550 mt resource @ 0.61% Cu) • Haquira (570 mt @ 0.64% Cu M&I plus 406 mt @ 0.58% Inf.) • Constancia (480 mt P&P @ 0.33% Cu, 0.04 g/t Au, plus Mo) 1 8 8

  9. Alicia Project • Community agreement in place • Environmental, sociological, archaeological baseline studies completed • Category 2 drill permit pending • Geophysical surveys completed – ground IP; airborne mag, radiometric and ZTEM • Detailed mapping and sampling ongoing • Drilling – 15-hole, 2,000-metre reconnaissance campaign completed; 5,000-metres planned 1 9 9

  10. Alicia Project, drilling at Zone 7 1 10 10

  11. 26-sq-km Concession GoodAccess Area of Interest Property boundary View of access road. Photo taken from Alicia property. • 65 km south of city of Cusco • Existing road to the property 1 11 11

  12. Two key thresholds • Is the system mineralized? • Drilling confirms robust values • Is there potential for size? • Mapping and rock sampling identified an 800m long north-west south-east trending mineralized zone in porphyry • Soil sampling to the west and northwest of this zone identified a copper anomaly defined by >500ppm Cu over 1,400 x 640 metres 1 12 12

  13. Alicia Area of Interest, 2010-11 drilling drilling 1 13 13

  14. Drill highlights, northern contact 1 14 14

  15. Alicia Project,Drill Results • Hole ALC10-04 - 25.7m (20.4m, TW) - 1.26% Cu, 0.14 g/t Au • Hole ALC10-05 - 33.0m (21.2m TW) - 1.27% Cu, 0.13 g/t Au - ended in mineralization - bottom 5.1m returned 2.17% Cu, 0.21 g/t Au 1 15 15

  16. Alicia Project, Drill Results • Hole ALC10-08 - 129.5m (94.3m TW) - 0.33% Cu, 0.04 g/t Au • Includes 50.5m (37.2m TW) @ 0.64 Cu, 0.08 g/t Au 1 16 16

  17. Alicia Project, Drill Results • Hole ALC11-17 - 198m @ 0.16% Cu, 0.02 g/t Au - includes 18m @ 1.20% Cu, 0.15 g/t Au • First hole drilled by Strait into the intrusive, indicates potential of the porphyry. 1 17 17

  18. Plans for Alicia 5,000-metre drill program Test geophysical anomaly on northern contact at depth Test porphyry potential based on results of airborne geophysics Mapping, sampling on balance of property 1 18 18

  19. Other projects:Letra Rumi South and Culebrilla Both projects ~250 km north of Lima: Letra Rumi South (copper-silver) Culebrilla (gold) 100%-owned by Strait Gold Nominal holding costs Letra Rumi South – ready to drill Culebrilla – good surface showings, largely unexplored, followup required 1 19 19

  20. Management and Directors Jim Borland, President and Director– Previously BMO Nesbitt Burns, Blue Pearl Mining (now Thompson Creek Mining), Anvil Mining, Glencairn Gold (now B2Gold) Graham Desson, CA, CFO– Previously Western Goldfields, Silver Bear Mining, Slater Industries John Gammon, PhD, Director** – Retired Ontario Assistant Deputy Minister of Mines; previously Falconbridge Exploration Manager, Europe Austin Gulliver, Director**– Dean of Science, Brandon University William R. Johnstone, LLB, Secretary, Director– Partner Gardiner Roberts LLP Roger Moss, PhD, P.Geo., Director*– Consulting geologist John Postle, P.Eng., Director**– Independent mining consultant Frank van de Water, CA, Director** – CFO Zaruma Resources 1 20 *Qualified Person for the disclosure of this presentation **Independent 20

  21. Summary • Grassroots exploration strategy, Peru focus • 50.6 million shares out, 74.1 million FD • Drilling at Alicia copper-gold project –excellent porphyry and skarn potential • Letra Rumi South property drill ready • Multiple targets to test on Culebrilla gold property 1 21 21

  22. 18 King St. E., Suite 1203, Toronto, ON M5C 1C4 www.straitgold.com Jim Borland, President 416-223-9970 jborland@straitgold.com 1 22

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