Stingray Copper Inc.: Results Continue to Flow From El Pilar Drilling

TORONTO, ONTARIO--(Marketwire - May 22, 2008) - Peter Mordaunt, CEO and Chairman of Stingray Copper Inc. ("Stingray") (TSX:SRY)(TSX:SRY.WT) reports additional infill drill results. "The drilling is progressing south along the Ultimate Resource Area. The planned program is quickly coming to an end and we anticipate that the final drill assay results for this work will be delivered by June month end. This will allow for the completion of the geologic and resource modeling of El Pilar. Stingray will then be provided with an update of the copper resource as another step in the preparation of the technical/feasibility study of the El Pilar Copper Property."

Results for 19 additional holes are reported from the in fill drilling program that is continuing with one drill rig in the Ultimate Resource Area. A second drill rig is drilling for geotechnical purposes under the direction of Golder Associates Inc. Upon completion of these programs, drilling will begin at the Arriba Zone exploration area located on the property to the northwest (See News Release 2007-17).

These drill holes have been completed on drill sections from 8200 North to 7800 North (See Table 1). The drill holes reported continue to intersect wide intervals of oxidized copper mineralization other than those drilled to define the east and west margins of the resource. These holes are posted at the Company's website and a map of the hole locations can be found at the link below or at the Company's website;

http://www.stingraycopper.com/PressReleases/2007-2008_Drilling_Program_Model.pdf

Copper intervals reported in Table 1 reflect approximate true widths and the principal copper mineral intersected at El Pilar is chrysocolla occurring as intrusive fragments in the host conglomerate. The resource outcrops at the north, and is flat lying to shallowly dipping to the southwest. All HQ drill core samples herein reported have been logged and split by the Company's staff under the direction of the Company's geologists and were delivered for assaying to ALS Chemex, Hermosillo, Sonora, Mexico.



Table 1: Inferred Mineral Resource In-Fill Drill Results - Ultimate Resource
Area
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Section Easting Hole From To Interval Grade (Total Copper%)
(m) (m) (m)
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8200N 0900 S08-84(i) No Significant Values
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8100N 1000 S08-91 93.2 128.7 35.5 0.26
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1100 S08-92 87.15 135.0 47.15 0.28
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1200 S08-93 89.05 153.7 64.65 0.36
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8000N 0900 S08-100(i) No Significant Values
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7900N 0900 S08-105(i) No Significant Values
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1000 S08-106 92.0 148.0 56.0 0.23
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1100 S08-107 87.3 147.5 60.2 0.30
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1200 S08-108 90.8 162.8 72.0 0.36
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1400 S08-110 138.0 203.2 65.2 0.36
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1500 S08-111 167.8 223.1 55.3 0.34
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and 255.4 288.4 33.0 0.27
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1700 S08-113 246.95 348.0 101.05 0.27
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7800N 0800 S08-114(i) No Significant Values
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1100 S08-179 82.2 136.5 54.3 0.31
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1200 S08-115 92.2 171.9 79.7 0.34
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1300 S08-180 105.0 206.3 101.3 0.34
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1400 S07-116 160.0 235.1 75.1 0.38
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1500 S08-181 207.5 304.2 96.7 0.37
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1700 S08-182 261.0 324.05 63.05 0.24
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(i) Located outside or at margin of current resource

 

Stingray has now reported 165 drill holes completed on 26 drill sections from 9300 North to 7800 North. Stingray has completed over 40,000 meters in over 200 drill holes on 50 meter spaced drill sections along 1.0 kilometer and at 100 meter spaced drill sections continuing for an additional kilometer to the south. For a complete listing of all drill holes completed by the Company at El Pilar, click on the following link;

http://stingraycopper.com/PressReleases/El_Pilar_TableMay22.pdf

The NI43-101 compliant inferred mineral resource at El Pilar is 180 million tonnes grading 0.37% total copper calculated at a cutoff of 0.25% total copper. At a lower cut-off of 0.20% total copper, the inferred mineral resource is 237 million tonnes grading 0.33% total copper. Stingray is working to reclassify the inferred mineral resource and develop the El Pilar as an open pit, heap leach, solvent extraction-electrowinning (SX-EW) copper mine. Stingray will report an updated El Pilar resource after the completion of the current drill program.

Stingray is well financed, with approximately $19M in the treasury, to carry out the current technical work that is leading to the technical/feasibility study of El Pilar scheduled for completion in Q1 of 2009. Stingray has added key, experienced professionals to the engineering team that is busy directing these technical studies.

Stingray has posted at SEDAR and Stingray's website, the Corporation's 2008 Financial Statements, Annual Report and related documents.

Website: www.stingraycopper.com

Peter Mordaunt, P.Geo has reviewed and is the Qualified Person responsible for the technical content of this release.



TSX Symbol: Common Shares - "SRY" Issued: 58,725,982 common shares
Warrants - "SRY.WT" 20,850,000 warrants

 

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 metals 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.

Steve Brunelle
Vice President
(416) 368-6240

or

Stingray Copper Inc.
Peter Mordaunt
CEO & Chairman
(416) 368-6240
Website: www.stingraycopper.com