TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Stingray Copper Inc. (TSX:SRY) ("Stingray" or the "Corporation") is pleased to announce the results of the definitive Feasibility Study (the "Study") on the Corporation's 100% 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. M3 Engineering & Technology Corporation ("M3") of Tucson, Arizona has prepared the Study and related NI 43-101 Technical Report.
Peter Mordaunt, Chairman and CEO of Stingray states: "Our objectives, milestones and time table established 2 years ago have been realized both on time and on budget. The results of this Feasibility Study are in line with our conceptual ideas both technically and economically from the start of this detailed work. Oxide copper projects of this size are indeed rare today and the positive conclusions from the Study demonstrate the economics of the project quite clearly. Specifically, low capital and operating costs are characteristic of oxide copper deposits and El Pilar is no exception. Although the financial landscape of the copper industry has changed significantly since the start of work at El Pilar, the demand for copper has remained strong. Stingray's ultimate objective of becoming a mid-tier copper producer in North America with excellent operating infrastructure at El Pilar has not changed."
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