Strategic Resource Acquisition Corporation
TSX VENTURE : SRZ.H

Strategic Resource Acquisition Corporation

May 20, 2010 10:35 ET

SRA Acquires Lagoa Salgada Deposit in Portugal's Iberian Pyrite Belt

TORONTO, ONTARIO--(Marketwire - May 20, 2010) -

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Strategic Resource Acquisition Corporation ("SRA") (TSX VENTURE:SRZ.H) is pleased to announce that it has acquired from Redcorp Ventures Ltd. ("Redcorp"), its Portuguese subsidiary Redcorp Empreendimentos Mineiros Unipessoal, Lda, ("REM").

The assets of the Acquisition include two exploration projects in Portugal covering gold prospects at the Vila de Rei concession and polymetallic massive sulphide mineralization at the 208 km2 Lagoa Salgada Concession. The Lagoa Salgada concession covers a partially defined massive sulphide deposit which was subject of a 43-101 compliant resource estimate prepared by Wardrop Engineering Inc. for Redcorp. Redcorp disclosed the estimate on August 21, 2007 and filed the technical report on SEDAR on October 1, 2007. The technical report estimated an inferred resource totalling 2,017,000 tonnes grading 0.35% copper, 4.83% lead, 5.13% zinc, 1.29 g/t gold and 85.35 g/t silver. The deposit remains open to expansion. In addition, Redcorp discovered a second polymetallic mineralized horizon on the Lagoa Salgada concession, at Rio de Moinhos, approximately 11 km southeast of the Lagoa Salgada deposit. Intercepts at Rio de Moinhos are interpreted to be lateral fringe mineralization of a separate massive sulphide zone.

The Lagoa Salgada property is located at the northwest extension of the Iberian Pyrite belt, which hosts numerous past and current producing mines in both Spain and Portugal. Lagoa Salgada is located approximately 60 km northwest of the large Aljustrel mining complex and 80 km northwest of the producing Neves-Corvo mine of Lundin Mining. The major connecting highway to the Algarve and rail line for transporting mine concentrates pass adjacent to the Lagoa Salgada project. 

Gold mineralization at the Vila de Rei property in central Portugal occurs in persistent quartz vein systems up to 15m in width and in breccia zones associated with late granitic intrusives. The concession covers sites of Roman-era placer gold mining operations.

With the acquisition of REM concluded, SRA intends to proceed shortly with the consolidation of its common shares, as approved at the annual meeting held on March 30, 2010, (see April 22, 2010 press release), and completing the necessary listing requirements to list the common shares of SRA on the Canadian National Stock Exchange ("CNSX").

SRA is a Toronto-based mineral development company, focused on acquisition and development of base and precious metal properties in Canada and in low-risk foreign locations.

The Qualified Person for SRA, as defined by National Instrument 43-101, is Terence Chandler, P.Geo, Executive Vice President, with more than 35 years experience in the minerals industry.

Victor Wyprysky , President and Chief Executive Officer

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither 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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