Stingray Awards Engineering Contract to Aker Chemetics for Co-Generating Plant at El Pilar

TORONTO, ONTARIO, Aug 17 (MARKET WIRE) --
Stingray Copper Inc. (TSX: SRY) ("Stingray" or the "Corporation") is
pleased to announce that it has awarded a contract to Aker Chemetics, a
division of Aker Solutions Canada Inc. ("Aker Chemetics"), for the Full
Basic Engineering of a Co-Generating Plant ("Co-Gen Plant") producing
both sulfuric acid and electricity. The Co-Gen Plant will produce
superheated high pressure steam to be used in a turbo-generator resulting
in approximately ten megawatts of electrical power. In addition, this
plant will be capable of producing 750 tonne per day ("tpd") of sulfuric
acid. This work was a recommendation in the April 2009, El Pilar
Feasibility Study ("Study") completed by M3 Engineering and Technology
Corporation and detailed in News Release 2009-02. Both the power and
sulfuric acid outputs are 25% larger than was contemplated in the
Feasiblity Study previously mentioned and should assist in driving down
cash costs per pound of copper produced while also de-risking the
project.

The size of the Co-Gen Plant is being increased to supply 100% of
sulfuric acid requirements for the El Pilar operation as identified in
the Study. The plant sizing as per the Study would have required Stingray
to purchase additional sulfuric acid from third party markets to augment
the acid plant production originally designed for 600 tpd. The 25%
increase in plant size is expected to provide additional operating cost
advantages by lowering overall acid costs and decreasing power costs as
well as avoiding the risks of spot acid price volatility experienced in
recent years. Decreasing power and sulfuric acid costs for the El Pilar
project will result in less risk for two of the largest inputs for the
Solvent Extraction-ElectroWinning copper operation. The primary input for
the Co-Gen Plant is liquid molten sulfur that is readily available from
several sources, but particularly in the Texas gulf coast as a by-product
of sour gas production wells. Stingray's market investigations have
indicated steady, reliable sources of sulfur can be railed directly to
the El Pilar site. Stingray is anticipating that the increased size of
Co-Gen Plant can be completed without a significant cost increase from
the estimate included in the Study. Aker Chemetics is expected to
complete their work prior to the year end. Although this Plant is slated
for construction in Mexico, it will adhere to the highest industry
standards by meeting or exceeding EPA and OSHA Standards.

Aker Chemetics is a world leader in executing advanced technology-based
engineering and construction projects for mining and mineral-processing
companies. They provide technologies that are offered on a worldwide
basis to customers in the form of engineered systems, proprietary and
nonproprietary equipment, as well as fully erected systems and plants.
Aker Chemetics' expertise encompasses all of the required engineering
disciplines and project execution skills for the Co-Gen Plant Full Basic
Engineering work they will be providing.

Stingray is actively pursuing project financing alternatives while
continuing to develop the El Pilar project for future mine construction.
Basic engineering is also underway in several other areas of the project.
The company is well funded with roughly $15.5 million in working capital.

Stingray Website: www.stingraycopper.com

TSX Symbol: Common Shares - "SRY"

Issued: 58,725,982 common shares

Forward Looking Statements:

Certain statements contained in this news release, including those
regarding production, costs, timing of permitting, construction or
production, future financial or operating performance and other
statements that express management's expectations or estimates of future
performance constitute "forward-looking statements". All statements,
other than statements of historical fact, are forward-looking statements.
Information concerning the interpretation of mineral resource and reserve
estimates and capital cost estimates may also be deemed as
forward-looking statements as such information constitutes a prediction
of what mineralization might be found to be present and how much capital
will be required if and when a project is actually developed.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. The Corporation cautions the
reader that these statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking
statements.

These risks, uncertainties and other factors include, but are not limited
to: general business and economic conditions; the supply and demand for,
deliveries of, and the level and volatility of prices of copper as well
as petroleum products; the timing of the receipt of regulatory and
governmental approvals for the Corporation's development project and
other operations; the availability of financing for the Corporation's
development project on reasonable terms; Stingray's estimation of its
costs of production, its expected production and its productivity levels,
as well as those of its competitors; power prices; the ability to procure
equipment and operating supplies in sufficient quantities and on a timely
basis; the ability to attract and retain skilled staff; engineering and
construction timetables and capital costs for Stingray's development
project; market competition; the accuracy of the resource estimate
(including, with respect to size, grade and recoverability) and the
geological, operational and price assumptions on which it is based; tax
benefits and tax rates; the Corporation's ongoing relations with its
employees, its business partners and joint venture partners and the local
communities. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in commodity
prices and, particularly, copper prices, access to skilled mining
development and mill production personnel, results of exploration and
development activities, the Corporation's limited experience with
production and development stage mining operations, uninsured risks,
regulatory changes, defects in title, availability of materials and
equipment, timeliness of government approvals, actual performance of
facilities, equipment and processes relative to specifications and
expectations and unanticipated environmental impacts on operations. These
factors are discussed in greater detail in the Corporation's most recent
Annual Information Form filed on SEDAR. Other assumptions are also more
fully described in the Study.

The Corporation cautions that the foregoing list of important factors is
not exhaustive. Investors and others who base their decisions on the
Corporation's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the risk
they entail. The Corporation believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not be
unduly relied upon. These statements speak only as of the date of this
news release. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release. Moreover,
these forward-looking statements may not be suitable for establishing
strategic priorities and objectives, future strategies or actions,
financial objectives and projections other than those mentioned above.

Contacts:
Stingray Copper Inc.
Steve Brunelle
Vice President
(416) 368-6240

Stingray Copper Inc.
Peter Mordaunt
CEO & Chairman
(416) 368-6240

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