Acquisition and Exploration Update on Dufferin Mine Project Area, Nova Scotia

Press Release Source: StrikePoint Gold Inc. On Thursday July 21, 2011, 9:25 am

SKP:TSXV STKXF:OTCQX

CALGARY, July 21, 2011 /CNW/ - StrikePoint Gold (SKP:TSXV) (STKXF:OTCQX) and Ressources Appalaches (APP:TSXV), joint venture partners in the Nova Scotia Dufferin Mine area project announce the acquisition of additional exploration land to capture prospective extensions of gold-bearing anticlinal axes; describe the publication of a geological research paper that supports StrikePoint's position that the Dufferin mineralization and its potential on-strike extensions represent large and important gold exploration targets; and summarizes the objectives of the summer 2010 exploration program.

Project Expansion by Property Acquisition

The Dufferin Joint Venture, consisting of the Dufferin Mine Property and Mill, the Chocolate Lake, Miller Lake and Ecum Secum properties, are located along fold structures that are known to be prospective for gold exploration. A detailed geological description is available in our Press Release of June 3, 2010. The joint venture has recently acquired three other properties with similar geology to the southwest of the Dufferin mine; the Sheet Harbour East, Sheet Harbour Centre and Sheet Harbour West properties, covering approximately 900 additional hectares (2,000 acres). As a result of the recent acquisition, the Joint Venture now consists of seven properties, including the Dufferin Mine, within a 35 kilometre strike segment containing favourable fold structures and rock types. The Sheet Harbour properties were acquired for $100,000, including a $10,000 signing payment, three $25,000 annual payments and a final $15,000 fourth year payment. The properties are also subject to a 3% Net Smelter Return (NSR) with a buyback provision whereby 1% can be purchased for $500,000 and an additional percentage can be purchased for $1,000,000. A map showing the properties comprising the Dufferin Mine Project is available at www.strikepointgold.com

New Geological Model Points to New Gold Targets

The Saddle Reef gold deposits in the Dufferin project are distinct and occur along the anticlinal axes of regional folds. They have historically and with justification represented the main focus of exploration and mining activity. A recently published landmark study of sedimentary rock hosted gold deposits suggests that exploration targeting in the Dufferin project area should be expanded to include different structures and host rock candidates. The paper appeared recently in "Economic Geology", a respected scientific journal that has been published for over 100 years. Entitled "A Carbonaceous Sedimentary Source Rock Model for Carlin-Type and Orogenic Gold Deposits", the paper presents detailed evidence and analysis that the gold in certain important gold deposits was originally deposited in sedimentary formations and subsequently, due to structural compression, folding and other geological events, was concentrated into higher grade commercial deposits. The main examples presented to characterize these processes are the prolific deposits of the Carlin Trend in Nevada, the Dufferin Saddle Reef gold deposit in Nova Scotia and the 22 million ounce Saddle Reef Bendigo deposit in Victoria, Australia. A "Fair Use" summary of the copyrighted Economic Geology paper, together with selected diagrams, is available on our website (www.strikepointgold.com).

2011 Summer Work Program Underway

The 2011 Dufferin Project summer exploration program is underway. This program will include an initial mapping and sampling program on the new Sheet Harbour properties, to be followed by an airborne LiDAR study to extend the previously surveyed areas. This data has proven effective in precisely locating the target anticlinal axes.

Following a ground-proofing survey, an initial drilling program will be undertaken on the Chocolate Lake property to test for gold-bearing extensions of the anticlinal axes over an eastward distance of 8 km that have been traced using LiDAR data collected last year. Subsequently, the new Sheet Harbour LiDAR survey will be used to identify drill targets that could extend westward from the Dufferin Mine area

A maintenance water sampling program will be undertaken throughout the Dufferin mine area for geochemical and baseline purposes.

A nominal cost rock analysis program will be taken to investigate additional target possibilities as suggested in the recently published paper described above.

Bulk sample test pits will be excavated on the Dufferin Mine property to test the gold grade and metallurgical properties of the gold-bearing saddle reefs where they project upward to intersect the land surface as indicated by LiDar and 2010 drill data, Additionally, test pits will be excavated eastward from known Saddle Reef subcrops approximately 1.4 km eastward to the Dufferin Mine property boundary.

The Dufferin Mine Project area contains a highly mineralized gold system as determined by a long history of gold mining and exploration. Our current program is designed to extend the known mineralization along the axial strike as a precursor to a comprehensive resource delineation program. We are also studying the metallurgical and recovery characteristics of the quartz saddle reefs and immediately adjacent wall rocks. This will eventually include the testing of rock types that have not previously been considered to be host rock candidates. We anticipate that initial metallurgical test data will be available for dissemination by the end of July.