Strategic Resource Acquisition Corporation

Strategic Resource Acquisition Corporation

December 03, 2010 15:46 ET

SRA Announces the Appointment of a New Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2010) - Strategic Resource Acquisition Corporation ("SRA") (CNSX:SRZ) is pleased to announce that Peter F. Chodos has joined the company as President and Chief Executive Officer. Mr. Chodos will also join the company's board of directors. Victor Wyprysky remains Chairman of SRA. Mr. Chodos has had over 30 years' experience in the financial services sector and has completed numerous transactions in Canada, the United States and the United Kingdom. Most recently, Mr. Chodos was a senior officer of a Toronto-based mineral resource asset management company.

"I am pleased to be joining an organization that has a significant amount of potential. The Lagoa Salgada property in Portugal is located at the northwest extension of the Iberian Pyrite belt, which hosts numerous past and current producing mines in both Spain and Portugal. SRA will seek to build on the previous historical drilling results. One of the first tasks will be to raise sufficient capital to do additional work and update the NI 43-101 report that was prepared for the previous operator of the concession.", said Mr. Chodos.

Mr. Terrence Byberg, Chief Operating Officer, has resigned as an officer of SRA and has become a technical consultant to the company. SRA is fortunate to have access to the experience and technical skills of Mr. Byberg.

SRA also announces that it has decided not to proceed with any work on the Vila de Rei grassroots gold exploration concession. SRA will concentrate its resources on advancing the zinc deposit at Lagoa Salgada as well as exploring other previously identified areas on the concession.

Victor Wyprysky commented: "The appointment of Mr. Chodos is the next major step in the development of SRA as a base metal development company. We are fortunate to add his broad management and financial experience to the technical team already in place."

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.

Victor Wyprysky, Chairman

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.

"The CNSX does not accept responsibility for the adequacy or accuracy of this release."

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