Resource Definition, Exploration and Mining Planning

Behre Dolbere completed a Qualifying Report, compliant with National Instrument 43-101 for Stroud Resources. The report concludes that the Hislop project contains indicated resources of approximately 102,750 ounces of gold and total inferred resources of approximately 69,700 ounces of gold. The technical report has been filed with SEDAR and can be viewed under the Company's filings at www.sedar.com or on the Company's web site at www.stroudresourcesltd.com. Stroud now anticipates initiating an infill drilling program to add resources and upgrade the resources to reserve categories. If successful, the plan would be to advance the project through underground development and advanced underground exploration. Stroud has also recently digitized all Hislop drill log results into a CAD like mining software, which has already proved an invaluable tool in furthering the development of the project.

The Company has investigated the feasibility of carrying out an underground program on the Creek zone. The program would depend on the market price for gold (US$400 or greater) and funding.

Underground access to the Creek zone would be obtained through a ramp (an inclined tunnel) to a depth of 150 m below the surface. Levels (horizontal tunnels) would be drilled and blasted in the Creek zone at 100 and 150 m levels below the surface. These levels would be connected by raises (vertical tunnels).

Based on historical costs, management believes that a program like this would take 12 months to complete at a cost of approximately $5.3 million. It is believed that mining could commence at 400 to 500 tons per day as additional development work was carried out.