Stingray Resources Inc.: News Release

NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: STINGRAY RESOURCES INC. TSX VENTURE SYMBOL: SRY MAY 28, 2004 - 14:33 ET Stingray Resources Inc.: News Release TORONTO, ONTARIO--(CCNMatthews - May 28, 2004) - Stingray Resources Inc. announces that further to the granting of stock options pursuant to the Company's Stock Option Plan as outlined in the Company's news release 2004-02 of May 27, 2004, Senior Officers Peter Mordaunt and Steve Brunelle have agreed to an exercise price of $1.00 per common share on 160,000 options granted to them. TSX Venture; Issued: 12,743,830 common shares. Certain Statements presented herein may constitute "forward-looking statements". Such forward-looking statements may include potential mineralization, resources and reserves, conclusions of prefeasibility and feasibility studies, estimates of future production, capital and operating costs, prices of silver and gold and other known and unknown risks. These and other factors and uncertainties may cause material differences from future results as expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include but are not limited to the risks involved in the exploration, development and mining business. -30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Stingray Resources Inc.
Steve Brunelle
Vice President
(416) 368-6240
(416) 368-7141 (FAX)
stingray@on.aibn.com
www.stingrayresources.com
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REPONSIBILITY FOR THE ADEQUACY OR ACCURANCY OF THIS NEWS RELEASE.