Strategic Metals Ltd.

Strategic Metals Ltd.

January 23, 2008 10:21 ET

Strategic Metals Ltd. Announces Filing of Early Warning Notice in Respect of Midnight Sun Capital Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") announces that it holds 1,800,000 common shares of Midnight Sun Capital Corp. ("Midnight Sun"), the common shares of which commenced trading on the TSX Venture Exchange effective at the opening today. (On January 16, 2008, Midnight Sun closed its initial public offering by way of its prospectus dated November 26, 2007 through its agent, PI Financial Corp., of 1,000,000 common shares at a price of $0.25 per share. See Midnight Sun's News Release dated January 23, 2008.)

These 1,800,000 shares represent 60.00% of the 3,000,000 common shares of Midnight Sun currently issued and outstanding. Strategic acquired these shares at a price of $0.125 per share while Midnight Sun was a private issuer, for a total subscription price of $225,000. Strategic has acquired these securities for investment purposes, and has no current plans to increase its ownership of securities of Midnight Sun.

Strategic also announces that it has filed the requisite Report under Section 111 of the Securities Act (British Columbia) as a result of its acquisition of these shares of Midnight Sun.

For further information concerning Strategic Metals Ltd. or its various exploration projects please visit our website at


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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