Stratabound Mining and Exploration Update

SB: TSX Venture Exchange       Issued: 75,887,611 shares

CALGARY, May 2, 2013 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to provide an update on its recent mining and exploration activities in the Bathurst Mining Camp of northern New Brunswick.

Captain North Extension (CNE Mine)

As previously reported, final regulatory approvals to proceed with development and mining at CNE were received on January 24 (news release dated January 30, 2013).  With Xstrata Zinc's mill scheduled to shut down permanently in mid-April, this left Stratabound a 10-week "window of opportunity" to develop, mine and truck ore to the mill for production and sale of concentrates.

Construction began on January 26, and mining commenced on March 5.  Reclamation began immediately upon the mill shutdown.

Subject to final confirmation, Xstrata reports that 62,720 dry metric tonnes (DMT) of CNE ore were milled at an average grade of 8.13% zinc, 3.22% lead, and 111 g/t silver.  Saleable production was 6,239 DMT of zinc concentrate grading 54.55% zinc; 2,122 DMT of lead concentrate grading 41.51% lead and 919 g/t silver; and 1,541 DMT of bulk concentrate with 42.21% zinc, 16.27% lead, and 491 g/t silver.  Payments will be received by Stratabound in May and June, 2013.  Final revenue cannot yet be determined, as it will reflect average May prices for zinc, lead, silver, gold, and the Canadian dollar versus its U.S. counterpart.

Stan Stricker, President of Stratabound, states: "The company's employees, consultants and contractors did a superb job under adverse conditions, overcoming on a daily basis challenges arising from heavy rain and snow and the necessity of constantly grading, plowing and maintaining 57 kilometres of gravel roads for ore delivery during the break-up season.  We are optimistic that revenue will be sufficient to cover all costs including reclamation and repayment of our production loan, as well as substantial drilling and other exploration in 2013."

Commander Option

Stratabound's 2012/2013 winter exploration program focused on surface exploration of the optioned Commander property. A drill hole completed in October 2012 intersected several copper-bearing sulphide stringer zones in chloritic pyroclastic rocks resembling the footwall at the Brunswick No. 12 and No. 6 massive sulphide deposits (news release dated November 1, 2012). Gravity work outlined a large (1.5 km x 1 km) half-milligal gravity anomaly.  The gravity response ended up being much larger in area than previously indicated, but with lower amplitude than before.  The lower amplitude results from the interpretation of additional survey data which has allowed definition of a background trend.  Amplitude would be about 1.2 milligals if a constant non-trending background was assumed as before the additional surveying.  The large gravity anomaly appears to reflect widespread chloritic alteration of the type commonly associated with massive sulphide deposits in the Bathurst area. The gravity anomaly was followed up with a deep penetrating UTEM electromagnetic survey.

Highlights of the UTEM survey include a strong untested shallow response, which Stratabound expects to drill this summer, along with other electromagnetic targets within the alteration zone/gravity anomaly, in addition to newly selected drill targets on the CNE and Captain claim blocks.

The technical information contained in this release has been reviewed by Stan Stricker, P.Geol., a Qualified Person as defined in National Instrument 43-101.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws.  This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information.  Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing.  Readers are cautioned not to place undue reliance on this forward-looking information.  The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.  

SOURCE: Stratabound Minerals Corp.