Canada Strategic Metals Inc.

TSX VENTURE : CJC
FRANKFURT : YXEN
OTCBB : CJCFF


Canada Strategic Metals Inc.

December 04, 2013 09:00 ET

Canada Strategic Metals Begins Drilling Campaign on Sakami and Announces Private Placements

MONTREAL, QUEBEC--(Marketwired - Dec. 4, 2013) - Canada Strategic Metals Inc. ("Canada Strategic Metals" or "the Company") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) announces that it has received its permit to begin a drilling campaign on the Sakami property. The Company expects to complete by December 31, 2013, ten (10) diamond drill holes, approximately 1,500 meters in areas 25 and 26 (see table below for historical results), as well as some induced polarization anomalies.

HISTORIC AREA 26 RESULTS

Hole
No
Au
(g/t)
Length
(metres)
From
(metres)
To
(metres)
EX-1 2.38 7.90 91.90 99.80
EX-2 1.97 19.85 11.15 31.00
EX-3 2.13 10.20 49.80 60.00
EX-5 2.12 6.00 72.00 78.00
EX-9 2.93 4.00 125.00 129.00
EX-10
including
2.51
3.52
54.65
14.00
18.35
43.00
73.00
57.00
EX-13 2.96 8.25 160.50 168.75
EX-17 1.74 10.65 155.65 166.30
EX-18 2.04 11.52 228.05 239.57
EX-22
including
4.16
6.40
21.00
12.67
74.25
77.28
95.25
89.95
EX-23 3.60 7.45 186.55 194.00
EX-25 2.72 17.85 133.10 150.95
EX-27 1.17 8.20 162.75 170.95
EX-28 2.08
1.98
3.26
3.73
71.16
148.59
74.42
152.32
EX-29 2.09
3.43
19.50
1.50
190.50
273.50
210.00
275.00
EX-31
including
2.39
8.03
30.19
3.82
110.81
132.14
140.00
135.96
EX-32
including
1.72
2.17
12.23
3.43
22.13
12.16
0.50
3.16
117.97
127.94
130.64
136.94
140.10
140.10
131.14
140.10
EX-33 4.95
3.34
2.00
3.45
243.25
260.91
245.25
264.36
EX-44 1.51
2.18
6.09
2.42
169.47
232.85
175.56
235.27
EX-45
including
1.17
1.70
5.00
2.00
190.50
191.50
195.50
193.50
EX-47 1.25 12.00 258.00 270.00

HISTORIC AREA 26 RESULTS

Hole
No
Au
(g/t)
Length
(metres)
From
(metres)
To
(metres)
EX-19
including
9.22
13.67
12.55
7.35
53.80
58.25
66.35
65.60
EX-20 4.07 1.35 66.75 68.10
EX-31 2.75 1.50 63.79 65.29
EX-32 2.53
3.41
1.50
1.50
64.29
69.82
65.79
71.32
EX-48 1.00 9.00 49.00 58.00
EX-49 2.69 3.00 64.00 67.00

Jean-Sébastien Lavallée, President of Canada Strategic Metals, stated that: "Canada Strategic Metals is very excited to start drilling program on this promising project that have already report many gold discovery and impressive gold intersection in drilling in many zones of the property. "

Jean-Sébastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

Furthermore, the Company announces that it is currently arranging non-brokered private placements for up of $500,000 consisting in two private placements:

  • Private placement of Unit common shares.
    The Company is proposing to issue 4,000,000 common shares Units at a cost of $0.05 per Unit. Each Unit includes one common share at a price of $0.05 per share and one-half common share purchase warrants of the Corporation. Each warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 12 months at a price of $0.10 per share.
  • Private placement of flow-through.
    The Company is proposing to issue 300 flow-through Units at a cost of $1,000 per Unit. Each Unit includes 12,000 flow-through common shares at a price of $0.075 per share with 2,000 common shares at a price of $0.05 per share.

Finders' fees of 6% of the gross proceeds of the offering may be paid in cash and in non-transferable finder's fees warrants.

The above-mentioned private placements are subject to the approval of the TSX Venture Exchange.

About Canada Strategic Metals

Canada Strategic Metals is an emerging growth company focused on the exploration and development of its early stage projects covering over 60,000 hectares throughout Quebec. With management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for its shareholders.

For more information on the Company, please visit www.csmetals.ca.

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

  • Jean-Sebastien Lavallee, P. Geo
    President & Chief Executive Officer
    819-354-5146

    Paradox Public Relations
    514-341-0408