Strategic Resource Acquisition Corporation

Strategic Resource Acquisition Corporation

April 24, 2008 16:30 ET

SRA Closes Bridge Facility With Auramet

TORONTO, ONTARIO--(Marketwire - April 24, 2008) -


Strategic Resource Acquisition Corporation (TSX:SRZ)(TSX:SRZ.NT)(TSX:SRZ.NT.A) ("SRA" or the "Company") announced today that it has closed the US$11 million secured bridge facility with Auramet Trading, LLC.

The bridge facility has a term of up to nine months and an annual interest rate of 13%. The Company plans to replace this bridge facility with a long term equipment debt finance package.

These facilities were contemplated in the Company's original plan to provide working capital during the production ramp-up period at the Gordonsville mine and rehabilitation of the Cumberland and Elmwood mines.

About SRA

SRA Corporation is focused on the development of the Mid-Tennessee zinc mining complex (MTM) in the State of Tennessee. The MTM is located approximately 50 miles east of Nashville with excellent infrastructure including roads, water, power, major airport and access to a well-trained workforce. MTM will produce one of the highest quality zinc concentrates in the world and efforts are underway to establish recovery methods for the valuable germanium and gallium contained in the concentrate. Once in full production, the Gordonsville Complex at MTM is expected to be the largest zinc producer and domestic source of germanium and gallium in the continental USA. The Company also plans to explore and develop additional properties and redeploy cash flow to pursue a strategy of accretive acquisitions.

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, the future price of zinc or other metal prices, the estimation of mineral resources and realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits and future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of regulatory matters. These statements reflect management's current beliefs and are based on information currently available. Forward-looking statements involve significant risks, uncertainties and assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those listed in the ''Risk Factors'' section of the Company's prospectus on file with Canadian provincial securities regulatory authorities.

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