Strategic Metals Ltd.
TSX VENTURE : SMD

Strategic Metals Ltd.

April 29, 2010 10:30 ET

Strategic Metals Announces New Gold Acquisitions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2010) - Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") announces that it has moved aggressively to increase its holdings in quality gold projects. Since November 2009, Strategic has intensively researched public records and a large private data base and through this research, has staked 37 properties in highly prospective areas of Yukon. All of these properties host gold showings or strong gold geochemical anomalies.

With these recent acquisitions, Strategic now holds either 100% or majority working interests in 51 projects, where gold is the main metal of interest. Nearly all of these projects are located in Yukon and most are modeled on recent discoveries that were made by Underworld Resources Ltd. at its White Gold Project and ATAC Resources Ltd. at its Rau Project.

Strategic intends to option or joint venture some of its gold projects to other parties, but will be funding exploration of a number of them itself. Major diamond drill programs are planned for summer 2010 at three of Strategic's porphyry gold-copper prospects:

  • GK in the Galore Creek/Red Chris area of northwestern British Columbia;
  • Nikki in southwestern Yukon; and
  • Mars in south-central Yukon.

Exploration arrangements are currently being completed and budgets are expected to be announced in about two weeks.

Strategic is a very well funded exploration company with working interests in about 100 mineral properties. It also holds royalty interests in a number of other projects, notably the Wolverine Mine which is scheduled to start commercial production later this year. Strategic's exposure to gold is further enhanced by its large shareholdings in other active explorers, which include 9,806,286 shares of ATAC Resources Ltd. and 10,134,500 shares of Rockhaven Resources Ltd.

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com.

STRATEGIC METALS LTD.
Per: W. Douglas Eaton, President and Chief Executive Officer

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Neither the 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.

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