SKP Strikepoint Gold Inc

SKP: TSXV   STKXF: OTCQX CALGARY, Oct. 12, 2011 /CNW/ - StrikePoint Gold Inc. (OTCQX: STKXF) announces that it has terminated its participation in an option agreement with Ressources Appalaches Inc. to earn a 50% interest in the Dufferin Mine project in Nova Scotia. (See Press Release of June 3, 2010). StrikePoint terminated its participation in the Dufferin Mine option agreement by giving advance notice to Ressources Appalaches that it did not intend to provide a $900,000 property payment contribution to a third party on October 6, 2011. Ressources Appalaches has advised StrikePoint that it has made the required payment and now owns 100% of the Dufferin Mine project. StrikePoint will participate in the Dufferin Mine project indirectly and at no additional cost via its current equity interest in Ressources Appalaches Inc., consisting of 10 million shares and 10 million share purchase warrants. Operationally, StrikePoint will concentrate on exploring its Rice Lake area, Manitoba properties including the Angelina property where a drill program has been recently completed with analytical results pending and the Strike Point property with San Gold Corporation . San Gold is currently earning a 50% interest in the Strike Point property by funding drill programs. Richard A. Boulay, CEO On behalf of the Board of Directors. 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. This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of StrikePoint. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and StrikePoint does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law. StrikePoint Gold Inc. CONTACT: Investor RelationsToll Free: 1(877)317-1660info@strikepointgold.com

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