Strategic Metals Ltd.
TSX VENTURE : SMD

Strategic Metals Ltd.

June 24, 2010 10:12 ET

Strategic Metals Announces Start of Drilling on Three Porphyry Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2010) - Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic Metals") is pleased to announce that diamond drilling has begun at its Keg and Nikki Projects in Yukon and will start in about 10 days at its GK Project in the Red Chris - Galore Creek belt of northwestern British Columbia. All three projects are porphyry-style targets. Nikki and GK host gold-copper mineralization while Keg exhibits a more diverse metal assemblage that includes zinc, copper, silver and gold. Approximately 1500 to 2000 m of drilling is planned for each project.

Strategic Metals has also commenced surface exploration at a number of its more grassroots gold prospects. These properties are scattered across southern and central Yukon. Strategic's projects include targets modeled on recent gold discoveries by Underworld Resources and Kaminak Gold Corp. in the Dawson Range and ATAC Resources Ltd. in the Keno Hill District. More than 30 grassroots projects are scheduled for exploration in summer 2010. Most of the gold projects are held by two wholly-owned subsidiaries of Strategic Metals. Those subsidiaries are intended to become independently, publically trading companies later this year.

Strategic Metals also announces that its annual general meeting was held on June 23 and that its board of directors remains largely unchanged. Douglas Goss, a long serving director of Strategic Metals was the only incumbent who did not stand for re-election. "We would like to extend our sincere appreciation to Doug for all of his contributions during his term as a board member and wish him every success in his new role as Chairman of ATAC Resources Ltd.," stated Douglas Eaton, Strategic Metals' President and Chief Executive Officer. Strategic Metals holds 9,806,286 shares of ATAC Resources Ltd. for investment purposes.

Strategic Metals is a very well funded exploration company with working interests in approximately 100 mineral properties, substantial share interests in a variety of other resource companies and royalty interests in a number of prospective mineral projects, most notably the Wolverine Mine. For further information concerning Strategic Metals 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.

Contact Information

  • Strategic Metals Ltd.
    Graham Downs
    Corporate Communications
    604-687-2522
    or
    Strategic Metals Ltd.
    Richard Drechsler
    Corporate Communications
    604-687-2522
    www.strategicmetalsltd.com