Canadian Warrants

April 24, 2007 - Toronto, Ontario, Canada: Stingray Resources Inc. (“Stingray” or the
“Company”) is pleased to announce that it has closed the fully marketed “best efforts” offering (the “Offering”) co-led by Canaccord Capital Corporation (“Canaccord”) and GMP Securities LP
(“GMP”) and including Westwind Partners Inc. An aggregate of 41,700,000 units were issued pursuant to the Offering to raise gross proceeds of approximately $50 million. Each unit consists of one common share of Stingray and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to purchase one common share of Stingray at a price of $1.80 at any time until April 24, 2009. Proceeds from the financing will be used to fund the remaining US$17.75 million payable to Xstrata plc for the purchase of all of the outstanding shares of Noranda Mexico S.A. de C.V. (“NORMEX”), the owner of the El Pilar oxide copper project located in Sonora, Mexico (See Stingray News Release of November 29, 2006).

The balance of the net proceeds of the Offering will be used to advance the El Pilar project towards feasibility and Stingray plans to start drilling shortly after it has gained ownership of NORMEX.

The Units, common shares, warrants and common shares issuable upon the exercise of such warrants have not been registered under the United States Securities Act of 1933 (the “Act”) and may not be offered or sold absent registration under the Act or an applicable exemption from the
registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.

The El Pilar property is located in north-central Sonora, roughly fifteen (15) kilometers south of the international border with the United States. The property is situated in the highly prospective, Sonora-Arizona Porphyry Copper Province. This copper trend accounts for the second largest concentration of porphyry copper deposits in the world. El Pilar lies 45 kilometers northwest of the Cananea deposit, the largest porphyry copper deposit in Mexico.