Strategic Metals Ltd.
TSX VENTURE : SMD

Strategic Metals Ltd.

September 11, 2007 11:11 ET

Strategic Metals Ltd. Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - Strategic Metals Ltd. (TSX VENTURE:SMD) is pleased to provide an update of its activities detailed in its recently filed financial statements and management discussion and analysis for the second quarter 2007, which can be found online at www.sedar.com.

Highlights:

- Strategic Metals has completed its third consecutive profitable quarter with a net income for the first two quarters of 2007 totalling $5,100,477 or $0.12 per share.

- Working capital totalled $22,896,854 at June 30, 2007.

- Strategic Metals closed a $9,020,000 financing on August 14, 2007. Two key participants in that financing are Global NR Holding SA, a Luxembourg based holding company controlled by the Lundin Family and three Limited Partnerships controlled by The Rule Family Trust.

- On August 2, 2007, Strategic Metals made a major acquisition that involved the purchase of the Plata and Inca silver properties for a sum of $1 million. The Plata and Inca properties are located in east-central Yukon and have previously produced silver- and lead-rich mineralization.

- Strategic Metals currently has 16 of its more than 50 properties optioned to other companies. These agreements provide Strategic Metals with cash payments and marketable shares while minimizing dilution by transferring exploration costs to the optionees.

- Strategic Metals continues to acquire and advance new properties in order to supply the mineral industry's growing demand for quality prospects.

- Strategic Metals recently acquired 1,250,000 units of Premium Exploration Inc. through a private placement and has entered into an informal agreement that provides exposure to international projects held by Premium. Each $0.40 unit of this private placement will consist of one common share and one half of one non-transferable warrant. Each whole warrant will be exercisable into one share for a period of one year at an exercise price of $0.50 per share.

The financial results clearly demonstrate that Strategic Metals is successfully implementing its generative business plan and the Company plans to launch new initiatives to build on its momentum.

For further information concerning Strategic Metals Ltd. or its various exploration projects please visit our website at www.strategicmetalsltd.com.

STRATEGIC METALS LTD.

Robert C. Carne, President

Forward-Looking Statement

Some statements in this release contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.

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