Strategic Resource Acquisition Corporation
TSX : SRZ
TSX : SRZ.NT
TSX : SRZ.NT.A

Strategic Resource Acquisition Corporation

April 18, 2008 07:30 ET

SRA Announces Unit Offering and Bridge Debt Financing for Its Mid-Tennessee Zinc Mining Complex

TORONTO, ONTARIO--(Marketwire - April 17, 2008) -

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Strategic Resource Acquisition Corporation ("SRA" or the "Company") (TSX:SRZ)(TSX:SRZ.NT)(TSX:SRZ.NT.A) today announced that it has entered into an engagement letter and filed a preliminary short-form prospectus for an offering of Units, each comprised of one Common Share and one half of one Common Share Purchase Warrant, to raise a minimum of $10 million. Each full warrant will be exercisable into one common share for 18 months from date of closing. The offering will be co-led by agents Blackmont Capital Inc. and Haywood Securities Inc.

Proceeds of the placement will be for the ramp up of the Gordonsville Mine, rehabilitation of the Cumberland and Elmwood mines and for general corporate purposes. The transaction is expected to close on or before May 8, 2008 and is subject to regulatory approval.

In addition, as part of its financing plans to provide adequate working capital during production ramp-up, the Company has arranged a short term secured bridge facility with Auramet Trading LLC for $11 million, with a term of up to nine months and a coupon rate of 13%. The facility is expected to close on or before April 23, 2008. It is the Company's intention to replace this interim bridge facility with a longer term equipment finance package, which is expected to be in place in the next few weeks.

The raising of these funds enables the Company to carry out its plans for the remaining 2008 development of the Mid-Tennessee Mining Complex and provide a sufficient working capital base during the ramp-up to full production.

About SRA

SRA Corporation is focused on the development of the Mid-Tennessee zinc mining complex (MTM) in the State of Tennessee. The MTM is located approximately 50 miles east of Nashville with excellent infrastructure including roads, water, power, major airport and access to a well-trained workforce. MTM will produce one of the highest quality zinc concentrates in the world and efforts are underway to establish recovery methods for the valuable germanium and gallium contained in the concentrate. Once in full production, the Gordonsville Complex at MTM is expected to be the largest zinc producer and domestic source of germanium and gallium in the continental USA.

The Company also plans to explore and develop additional properties and redeploy cash flow to pursue a strategy of accretive acquisitions.

Cautionary Statement on Forward-Looking Information

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, the future price of zinc or other metal prices, the estimation of mineral resources and realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits and future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of regulatory matters. These statements reflect management's current beliefs and are based on information currently available. Forward-looking statements involve significant risks, uncertainties and assumptions and other factors that 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. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those listed in the ''Risk Factors'' section of the Company's prospectus on file with Canadian provincial securities regulatory authorities.

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