EL PILAR

Stingray Copper Inc. announce that it has filed at SEMARNAT (Ministry of Environment and Natural Resources) the Manifest of Environmental Impact (“MIA”) for the Corporation's 100% owned El Pilar oxide copper project in Sonora, Mexico. As advised by SEMARNAT, the MIA includes as an annex the Risk Analysis. The Risk Analysis was prepared using internationally recognized methodologies. Also included in the MIA were the Land Use and Construction permit from the Santa Cruz, Sonora municipality and the Archeological Release from the National Institute of Archeology and History (“INAH”). The third step in the environmental permitting process, the Change of Land Use is under preparation and will be filed as soon as the MIA is approved.

Stingray Copper announced the results of the definitive feasibility Study on the compnay's wholly owned El Pilar oxide copper project located in Sonora, Mexico. Based on the positive results of the study, the board of directors of the corporation has approved the project for development as a low cost, open pit mine with a solvent extraction and electro-winning plant to treat oxide mineral reserves, subject to financing. The initial capital cost (+/- 15%) for the base case at El Pilar is estimated to be $209 million. Sustaining capital of $30.9 million is estimated over the life of mine. A cash reserve of $12.8 million is also included in the financial model. The operating cash cost for the project is calculated at $1.20 per pound of copper. Before taxes, the project has an internal rate of return (IRR) of 33.6% and the estimated payback of capital is 2.8 years. After taxes the IRR is 25.3% and payback is 3.7 years.

Positive results from feasibility announced; the Initial Capital Cost (+/- 15%) for the base case at El Pilar is estimated to be $209 million. This includes a co-generation acid/power plant and the use of a mining contractor. Sustaining capital of $30.9 million is estimated over the life of mine. A cash reserve of $12.8 million is also included in the financial model. The operating cash cost for the project is calculated at $1.20 per pound of copper. Before taxes, the El Pilar Project has an internal rate of return (IRR) of 33.6% and the estimated payback of capital is 2.8 years. After taxes the IRR is 25.3% and payback is 3.7 years.