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Summary

The Kaituma East Uranium/Gold Project is a low grade/large tonnage uranium target modeled on the "Alaskite" Rossing and Rossing South deposits found in Namibia. These deposits represent lowest quartile production and demonstrate robust operating parameters . 3 Gold targes have been identified on the western portion of the project. The eastern portion of Kaituma has not been tested for Gold but one of the three anomalies trends across to the Kaituama East Liacense.

The Kaituma project is located in NW Guyana, 5km from a deep water port, town and airfield. Topography on the project is rolling with a change in relief of only 100m. Access is defined by an all weather road that runs along a ridge on the center of the project and is augmented by an abandoned railway and secondary logging roads.

The project represents a world class target with a low exploration cost, solid infrastructure and a rapid timeline to a conceptual resource definition and development.

Location and infrastructure

The Kaituma property is located 3 kilometres (km) west of Port Kaituma and is centered at latitude 59°58' W and longitude 7°41' W. The property has excellent infrastructure, being serviced by an all-season road, a paved airstrip and a deep-water port. A deep-water port and railway line were built by the African Manganese Mining Company during the 1950's for open pit manganese mining operations located 80 km west of the property, at Matthews Ridge. Ore was transported by rail to Port Kaituma, where ocean-going vessels were loaded with the manganese ore for shipment to international markets.

Historical Work

StrataGold was granted the Kaituma East PL53 in December 2009 and Kaituma PL35 in November 2005. Historical exploration work on project included a ground scintillometer uranium survey by Cogema in 1980. During the period from 1996 - 1998, BHP flew a High Sense airborne magnetic and radiometric survey and conducted regional BLEG-ICP stream sediment and soil geochemistry programs over the property.

A large 70 square kilometres (sq km) radiometric anomaly was identified by the airborne survey, and a significant stream sediment gold anomaly was also identified on the property. The BHP stream sediment and soil geochemistry surveys did not assay for uranium. Work in 2006 by StrataGold clearly defined 3 gold anomalies and validated the uranium target with uraniferous grains in stream sediment and coincident radiometric, soil and trench uranium anomalies.

Geology

The style of uranium mineralization discovered on the Kaituma property is considered to be a Na-metasomatic type uranium deposit. Similar uranium deposits have been discovered in northeastern Brazil including the Lagoreal and Itataia uranium deposits that are associated with uranium and phosphorous in episyenites and Namibia including the Rossing and Rossing South projects. These types of deposits are typically large deposits containing low to moderate uranium grades and have been mined by open pit in Africa, Eastern Europe and South America.

Mineralization

On a regional scale the geological setting of the Kaituma property is considered to be highly favourable for uranium mineralization. The 70 sq km airborne radiometric target is situated along a major fault located along a regional-scale tectonic boundary between granitic basement rocks on the northern half of the property with a metasedimentary basin located on the southern half of the property. The hornblende biotite granitic basement rock was subjected to metasomatic alteration with the introduction of sodium (Na), oxygen (O), iron (Fe) and uranium (U) hydrothermal fluids introduced along the fault structures in the granite during the Trans-Amazonian orogeny. The granite is altered to an "episyenite," with a strong overprint of hematite, albite and dissolution of quartz in the vicinity of the uranium mineralization. Other rock types include a variety of "episyenites" including peraluminous syenite, peralkaline syenite and altered granitic basement rocks. On the southern half of the property, highly folded banded iron formation and manganiferous phyllites are intruded by large dolerite dikes.

2007 Work Program

Work on the Kaituma West PL35 included a north south oriented soil grid was established in 2006 with a 400 metre (m) line spacing and 1 m deep auger soil samples collected every 25 m along these lines. A total of 3,247 soil samples were collected across the entire property and submitted for neutron activation (INAA) multi-element analysis at Actlabs. A large coincident barium-uranium soil anomaly was identified which has a strike length of 5.2 km and a width of 250 to 300 m. Uranium values within the soils range up to 48 parts per million (ppm) U while barium values range up to 7200 ppm barium (Ba). A trenching program completed in early 2007 was conducted using an excavator due to the ease of access and availability of heavy equipment in nearby Port Kaituma.

These work programs further demonstrated the potential to find a uranium deposit on the Kaituma East and Kaituma Licenses and also indicated a high level of correlation between the BHP Airborne Radiometrics, the Cogema ground work and the Stratagold ground work.

Proposed work program

The Kaituma Project represents a compelling uranium exploration target which warrants a multi-phased exploration program to test the Project's economic uranium potential. The Project has not been adequately tested; in particular no exploration drilling has been conducted to sample the lithologies below the surfical saprolite horizons. Importantly, all the exploration work to date has sampled the leached saprolite horizon and not fresh (non-saprolitized and potentially un-leached) lithologies which underlie this cap rock. The company proposes to execute a drill program in Q1 2010.

Land

The Kaituma Project consist of two lease blocks:

Kaituma East PL S53 (4,094 ha.) -- 100% owned StrataGold Guyana Inc. (to be assigned to Argus Metals via Agreement). Mineral rights; gold and precious metals, and radiometric elements.
Kaituma West PL S35(4,634 ha.) -- 100% owned StrataGold Guyana Inc. (to be assigned to Argus Metals via Agreement). Mineral rights; gold and precious metals. Radiometric elements and REES expected to be granted with the next 8 months.