Strategic Resource Acquisition Corporation

Strategic Resource Acquisition Corporation

January 05, 2011 16:31 ET

SRA Seeks Financing

TORONTO, ONTARIO--(Marketwire - Jan. 5, 2011) - Strategic Resource Acquisition Corporation ("SRA" or the "Company") (CNSX:SRZ) announces that it is seeking to raise equity financing in the amount of $2,000,000 in order to advance its Lagoa Salgada base metal project in Portugal. The terms and conditions of the proposed financing will be determined at a later date in the context of the market and will be subject to regulatory requirements and approvals. There can be no certainty that the proposed financing will be completed. SRA anticipates that, if the proposed financing is completed, it will use the proceeds primarily to undertake additional drilling, geological and geophysical work, metallurgical testing and for working capital.

The proposed financing is being undertaken by way of a best efforts private placement to accredited investors. SRA has engaged D&D Securities Inc. to assist it in this regard.

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, do additional work and update the NI 43-101 report that was prepared for the previous operator of the concession.

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.

This press release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. The words 'expect', 'believe', 'will', 'intend', 'seek', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements of the Company to vary or to be materially different from those expressed or implied by such forward looking statements. Forward-looking statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms and the availability of outside service providers to deliver services in a satisfactory and timely manner. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company; however, these factors and assumptions should be considered carefully by readers. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law.

CNSX Markets does not accept responsibility for the adequacy or accuracy of this press release.

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