Strategic Metals Ltd.

Strategic Metals Ltd.

January 23, 2007 15:21 ET

Strategic Metals Ltd. Announces $900,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2007) - Strategic Metals Ltd. (TSX VENTURE:SMD) announces that it is proposing to complete a $900,000 private placement with one investor, to consist of the sale of 1,500,000 units at a price of $0.60 per unit. Each unit will consist of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $0.75 for a period of 2 years from closing. Pacific International Securities Inc. ("PI") will receive a finder's fee equal to 7.0% of the gross proceeds, payable in cash or units at PI's election. The proceeds from this private placement will be used for general working capital purposes. Closing of the offering is subject to regulatory acceptance.

Strategic Metals Ltd. is a junior mining company with an attractive exploration portfolio comprising nearly 50 properties. It currently has 13 properties optioned out and holds royalty interest in four other projects. The Company has a strong balance sheet with approximately $3 million in working capital plus approximately $15 million worth of common shares in other companies at today's prices.


Robert C. Carne, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

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