Stratabound Reports Increase in Captain Copper-Cobalt Resource

SB: TSX Venture Exchange
Issued: 62,745,111 shares

CALGARY, Dec. 8 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to report the results of an updated mineral resource estimate for the company's 100%-owned Captain copper-cobalt deposit located in the Bathurst Mining Camp of northeastern New Brunswick.  The new resource estimate was prepared by Mercator Geological Services Limited, an independent geological consulting firm based in Dartmouth, Nova Scotia.

Increases in tonnage and in-situ metal content are apparent across all resource categories and cut-off grades, as seen in the tables below.

The updated Captain resource estimate reflects mineralization defined by results of 30 diamond drill holes completed by Stratabound. These include five holes from the 2009-2010 drill program completed since the previous resource estimate announced on October 29, 2008.  The additional drilling has extended the deposit down-dip by 100 metres to a total vertical depth of approximately 400 metres. 

Results of the updated Captain resource estimate are presented in the table below, along with a summary of estimated in-situ metal content at the stated cut-off grades. Since no metal recovery factors have been applied to the figures, they should not be interpreted as estimates of recoverable metal.

Captain Copper-Cobalt Deposit Mineral Resource Estimate, Effective December 8, 2010

Cu Eq %* Cut Off	Resource Category	Rounded Tonnes	Cu %	Co %	Au g/t	**Contained Cu kg (Cu lb)	**Contained Co kg (Co lb)	**Contained Au g (Au  oz)
0.60	Measured	68,000	1.09	0.059	0.20	741,200 (1,634,050)	40,120 (88,449)	13,600 (437)
	Indicated	938,000	1.03	0.050	0.20	9,661,400 (21,299,522)	469,000 (1,033,957)	187,600 (6,031)
	Measured + Indicated	1,006,000	1.03	0.051	0.20	10,402,600 (22,933,572	509,120 (1,122,406)	201,200 (6,468)
	Inferred	960,000	0.64	0.039	0.12	6,144,000 (13,545,062)	374,400 (825,402)	115,200 (3,704)
1.00	Measured	46,000	1.51	0.056	0.25	694,600 (1,531,315)	25,760 (56,790)	11,500 (370)
	Indicated	621,000	1.41	0.047	0.25	8,756,100 (19,303,698)	291,870 (643,457)	155,250 (4,991)
	Measured + Indicated	667,000	1.42	0.048	0.25	9,450,700 (20,835,013)	317,630 (700,247)	166,750 (5,361)
	Inferred	298,000	1.18	0.038	0.20	3,516,400 (7,752,255)	113,240 (249,649)	59,600 (1,916)
1.40	Measured	32,000	1.86	0.057	0.29	595,200 (1,312,178)	18,240 (40,212)	9,280 (298)
	Indicated	416,000	1.74	0.045	0.30	7,238,400 (15,957,777)	187,200 (412,701)	124,800 (4,012)
	Measured + Indicated	448,000	1.75	0.046	0.30	7,833,600 (17,269,955)	205,440 (452,913)	134,080 (4,310)
	Inferred	162,000	1.47	0.040	0.24	2,381,400 (5,250,034)	64,800 (142,858)	38,880 (1,250)

*   Copper Equivalent % = Cu % + (Co % X 9.25)
**Total in-situ metal - no recovery factors applied

The following table summarizes increases in resource tonnage and in-situ total contained metals from the previous Captain resource estimate released on October 29, 2008.

Cu Eq %* Cut Off	Resource Category	Rounded Tonnes	Percentage Increase in Tonnes	Percentage Increase in Contained Cu*	Percentage Increase in Contained Co*	Percentage Change in Contained Au*
0.60	Measured	68,000	28.3	22.7	24.1	22.1
	Indicated	938,000	16.1	8.7	13.8	5.5
	Measured + Indicated	1,006,000	16.8	9.6	14.6	6.5
	Inferred	960,000	41.0	50.4	41.0	41.0
1.00	Measured	46,000	21.1	21.9	11.1	16.4
	Indicated	621,000	14.4	6.8	9.7	2.1
	Measured + Indicated	667,000	14.8	7.8	9.8	3.0
	Inferred	298,000	55.2	60.7	47.4	47.8
1.40	Measured	32,000	28.0	19.6	21.6	19.7
	Indicated	416,000	4.8	0.7	0.3	-4.7
	Measured + Indicated	448,000	6.2	2.0	1.9	-3.4
	Inferred	162,000	72.3	61.4	102.8	42.7

*Based on total in-situ metal - no recovery factors applied

The Captain deposit lies below thin overburden cover and in part shows potential for open pit development. Near surface resources reported at the 0.60% copper equivalent* cut-off reflect such potential. Figures reported at higher cut-offs of 1.00% and 1.40% copper equivalent* may have underground development potential.  Wardop Engineering, A Tetra Tech Company, has been commissioned to provide a National Instrument 43-101 compliant Preliminary Economic Assessment to investigate the viability of production of the Captain resources in conjunction with resources currently being defined at CNE and Taylor Brook (news release dated August 25, 2010).

The deposit remains open down dip below drill hole CP-09-26, which returned 1.12% copper and 0.034% cobalt over 19.5 metres including 2.11% copper and 0.052% cobalt over 8.5 metres.  This indicates potential to further expand resources with continued down-dip extension drilling. The deposit has a maximum strike extent of approximately 150 metres at a depth of 80 metres below surface.

The deposit is interpreted to represent an overturned footwall alteration pipe that opens downward and may have an exhalative lead-zinc-silver massive sulphide component, which will be targeted in future deeper drilling.  Two tabular bodies of higher grade copper mineralization form the core of the deposit and are in part coincident with two larger, sub-parallel zones of lower grade cobalt mineralization.  Gold is present at low levels throughout the deposit, with higher grades tending to occur in areas of higher copper grades.

The Captain resource estimate is considered compliant with both Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Reserves Definitions and Guidelines (the CIMM Standards) and reporting requirements of National Instrument 43-101. The Mineral Resources reported above are not Mineral Reserves and do not have demonstrated economic viability.

Resource Estimate Methodology

The resource estimate is based on a three dimensional block model of the deposit developed by Mercator using Surpac© Version 6.1.4 deposit modeling software. Validated results for 30 diamond drill holes by Stratabound were used in the model and four higher grade mineralized zones were modeled separately, with grade interpolation constrained within three dimensional solids reflecting cutoff parameters of 0.60% Cu or 0.05% Co over 4 metre down hole sample composite lengths. A peripheral deposit constraint reflecting a 0.60 % Cu Equivalent envelope was used to limit interpolation of Cu and Co grades outside the higher grade solids. Au values were interpolated in conjunction with Cu values. Inverse Distance Squared (ID2) interpolation was used with a block size of 2.0 metres x 2.0 metres x 2.0 metres and 1.0 metre x 1.0 metre x 1.0 metre sub-blocking. Grade interpolation ellipse ranges were based on variogram analysis and specific gravity (SG) values were calculated from block metal grades using the linear regression formula SG = 2.83 + (0.147 x (Cu % + Co %) that is based on project laboratory SG results. The equation Copper Equivalent % = Cu % + (Co % * 9.25) was retained from the previous resource estimate for consistency and is considered acceptably comparable with recent relative three year trailing average metal pricing values. No metal recovery factors were applied to calculate this factor.

Measured category mineral resources are defined by those blocks occurring within sectionally wireframed solid models that identify a group of blocks having 7 or more required supporting composites from three separate drill holes for which the averaged distance from the block is 31.25 metres or less, with the distance to the nearest supporting composite being 12.5 metres or less, and occurring within the higher grade block model solids. Indicated category mineral resources are defined by those model blocks within the higher grade solids not classified in the measured category for which the averaged distance from the block to 7 or more required supporting composites from three separate drill holes was 62.5 metres or less, with distance to the nearest supporting composite being 41.7 metres or less. Inferred category mineral resources include all other blocks within the peripheral constraint having interpolated metal grades.  

The drilling programs carried out by Stratabound in 2007-2010 included Quality Control and Quality Assurance protocols that incorporated systematic insertion of independent analytical standards and blanks plus duplicate sample analyses and independent check sample analyses.

Michael P. Cullen, M.Sc., P. Geo., Senior Geologist at Mercator Geological Services Limited, is the Qualified Person as defined under NI 43-101 who supervised and is responsible for the Captain deposit resource estimation program and, in conjunction with estimate co-author Mr. Matthew Harrington, B.Sc (Hons.), Project Geologist, has reviewed and approved the related technical information presented in this news release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information regarding the Company contained herein may constitute forward looking statements.  Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact.  Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.  These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements.  The Company is under no obligation to update or alter any forward looking statement.  These risks include operational and geological risks and the ability of the Company to raise necessary funds for exploration.  The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.      

For further information:

Stan Stricker, P. Geol, President
403-258-3630
[email protected], www.stratabound.com