Strategic Resource Acquisition Corporation

Strategic Resource Acquisition Corporation

August 17, 2007 11:51 ET

SRA Production on Schedule to Commence In Q4 2007

Start-up fully funded from Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2007) - Strategic Resource Acquisition Corporation (TSX:SRZ)(TSX:SRZ.NT) ("SRA" or the "Company) is pleased to report that progress at its zinc mining complex in Tennessee (MTM) is on track to meet its production start-up target in the fourth quarter of this year. The Company expects that completion of the mill refurbishment will occur by early November to allow for production to commence.

In May 2007, SRA completed its initial public offering raising gross proceeds of C$112 million in shares and units to fully fund the start-up of operations. With the proceeds from the IPO, the Company purchased US $60 million at a rate of $1.06 thereby reducing its 2007 budgeted US denominated capital costs by $4.5 million, securing the required funds for the 2007 start up.

Ian MacNeily, SRA's Executive Vice President and Chief Financial Officer added, "With $83 million currently in cash at a major Canadian bank earning interest at treasury bill rates, we have followed a prudent financial strategy that ensures that the start-up capital for the MTM project is available, with negligible credit risk."

About SRA

SRA Corporation is focused on the development of the MTM zinc project in the State of Tennessee. The MTM project 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. The Company's goal is to become a producer of zinc commencing in late 2007 through the re-opening of the MTM zinc mines comprised of five historic producing underground zinc mines (Elmwood, Gordonsville, Carthage, Stonewall and Cumberland) as well as the undeveloped East Carthage zinc deposit. The MTM mining and milling complex is located approximately 80 kms east of Nashville. The district is situated amid excellent infrastructure including roads, water, power, major airport with access to a well-trained workforce. Demand for zinc used largely in galvanizing steel has doubled in recent years becoming increasingly in short. The Company also plans to explore and develop additional properties and redeploy cash flow to pursue a strategy of accretive acquisitions. 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.

A technical report dated May 10, 2007 prepared by Watts, Griffis and McOuat Limited in accordance with the standards adopted by the CIM and compliant with National Instrument 43-101 is available on the Company's filings on

The Company's common shares are listed on the TSX under the symbol SRZ and the Company's Notes are listed on the TSX under the symbol SRZ.NT.

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, and that reflects management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect management's current beliefs and are based on information currently available to management. 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. 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. Accordingly, readers should not place undue reliance on forward-looking statements.

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