Past Corner Bay Team Supports Stingray

NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: STINGRAY RESOURCES INC. TSX VENTURE SYMBOL: SRY OCTOBER 28, 2003 - 09:11 ET Past Corner Bay Team Supports Stingray TORONTO, ONTARIO--Stingray Resources Inc. is pleased to announce that the TSX Venture Exchange has given notice that the Company's shares will begin to trade today on the Venture Exchange as a Tier 2 Company by virtue of a reactivation which includes: a property of merit in Mexico, new management and an addition to the Board of Directors. The Company has optioned several gold and silver exploration properties (collectively called "El Indio") in North Central Mexico along the significant Sierra Madre precious metal belt where the new management has demonstrated exploration success. The El Indio Property is a collection of three closely spaced concessions totaling 2,414 hectares. The Company's Qualified Person, Victor Jaramillo, P. Geo states, "The Property hosts strong silicification, stockwork zones with narrow quartz veining and quartz flooded hydrothermal breccias. In the center and northwestern area of the El Indio Property an elongated area of alteration approximately 1.5 km long by 250 meters wide is readily visible. Rock alteration (silicification), stockwork quartz veining, vuggy textures, chalcedonic quartz, anomalous As, Sb, Hg, and samples with values above 1 g/t gold are all very strong indications that the El Indio Property may host an epithermal precious metal deposit." Although little work by today's exploration standards has been completed on this property, it's located in a prime geological setting where significant early stage lithogeochemical sampling indicates gold and silver mineralization between recently discovered/developing mineral deposits, including Alamo Dorado (Pan American Silver Corp.), El Sauzal (Glamis Gold Inc.), Monterde (Kimber Resources Inc.), Ocampo (Gammon Lake Resources Inc.), Mulatos (Alamos Gold Inc.) and Doloris (Minefinders Corporation Ltd.) There is a map of the Sierra Madre Belt available on CCN Matthews' site at: http://www2.cdn-news.com/database/fax/2000/stingray_1029.doc The Company has entered into an agreement (subject to regulatory approval) with Minera Uruachic S.A. de C.V. a private Mexican company. Under the terms of the agreement Stingray will become Operator and earn a 75% interest by making payments in cash of $500,000 and stock of 250,000 common shares plus, completing exploration work totaling $1,000,000 over a seven year period. The first year requirements include cash payments of $25,000, stock payment of 12,500 common shares and a work program of no less than $100,000. Recently appointed executive management of the Company includes Mr. Peter Mordaunt, P.Geo. as President, Mr. Steve Brunelle as Vice President, Mr. Edward J. Badida, C.A. as Vice President Finance and Mr. Hector Cordova as Exploration Manager in Mexico. In addition, Mr. Peter Mordaunt has been appointed to the Board of Directors. Mr. Michel Blouin an experienced securities lawyer and legal counsel for the Company was earlier elected to the Board and appointed Corporate Secretary. This management team is the group that was ultimately responsible for the discovery and development of the Alamo Dorado Silver Deposit in Mexico and the subsequent merger of Corner Bay Silver Inc. with Pan American Silver Corp. New President, Peter Mordaunt states "It is great to be back exploring for precious metals in Mexico, a NAFTA partner with a long standing mining tradition...we are especially pleased working along a district we know well, where several major discoveries have been made in recent years". "Steve Brunelle" Steve Brunelle Vice President -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.stingray.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.