Strategic Metals Ltd.

Strategic Metals Ltd.

June 09, 2009 10:32 ET

Strategic Metals Ltd. Announces Plans for Precious Metal Exploration Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2009) - Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") is pleased to announce its exploration plans for summer and fall 2009. Work will focus on projects with significant precious metal potential.

Initially, surface work will follow-up encouraging results from previous programs to identify the best targets for trenching or drilling later in summer or fall. Key prospects that will be evaluated include:

- Eureka - a road accessible project located in the South Klondike gold district about 50 km north of the White Gold discovery of Underworld Resources Ltd. Gold is hosted in a series of gently to moderately dipping breccia zones developed within schists and gneisses. Strong gold-in-soil geochemical values obtained from widely spaced sampling have outlined a 6 km long by up to 2 km wide anomaly. Excavator trenching and shallow reverse circulation drilling in a 700 m by 150 m area within the soil anomaly intersected several subparallel zones that are each 2 to 20 m wide and typically graded between 0.3 and 2 g/t gold. Creeks draining the property are prolific placer gold producers.

- Fairweather - hosts a gold discovery that was made by Strategic in fall 2008. The discovery is hosted in a sheared skarn on the flank of a high level Tombstone Suite intrusion. It was found by following up very anomalous soil samples (500 to 9060 ppb) that coincide with a strong VTEM conductor and a sharp magnetic high. Chip samples from a hand trench that was cut across the zone last last fall averaged 1.5 g/t gold over a length of 18 m. A much larger and stronger area of coincident VTEM and magnetic response lies about 1000 m to the south in an area that has not yet been soil sampled or prospected.

- GK - is located in the Telegraph Creek area of northern BC in the same belt of rocks as the Galore Creek deposit owned by NovaGold Resources Inc. and Teck Cominco Ltd. Previous work at the GK property has identified several showings where mineralized specimens have returned assays in the ranges of 2 to 48 g/t gold and 0.8 to 9.7% copper. Limited soil and silt sampling has also yielded high values. The best gold-in-silt values (400 and 370 ppb) are from two adjacent creeks, neither of which has been systematically explored. There is an interesting magnetic high in the most anomalous drainage.

Once exploration data are available from 2009 work at the various prospects, Strategic will decide whether to drill some of the targets itself or to search for potential optionees.

Besides exploring its own properties, Strategic has large share interests in companies that are aggressively exploring other gold and/or silver projects. In particular, it holds: 1) an 14.7% interest in ATAC Resources Ltd., which is about to resume diamond drilling on its Rau property; 2) a 44% interest in Rockhaven Resources Ltd., which is scheduled to drill its Plata property this summer; and, 3) a 60% interest in Midnight Sun Capital Corp., which is in the process of completing a Qualifying Transaction on an interesting gold prospect. The Company's interest in ATAC will increase to about 18.3% if an ongoing financing by ATAC is completed.

Technical information of this news release has been reviewed by Robert C. Carne, M.Sc., P.Geol., a qualified person for the purpose of National Instrument 43-101.

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


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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