Strategic Metals Ltd.

Strategic Metals Ltd.

March 03, 2008 11:52 ET

Strategic Metals Options Silver Ghost Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Strategic Metals Ltd. (TSX VENTURE:SMD) is pleased to announce that it has signed an option agreement with an arm's-length prospector, which will allow the Company to earn a 100% working interest in the road accessible, Silver Ghost property located near Terrace B.C.

A 5.5 metre wide breccia vein zone in Jurassic to Cretaceous Bowser Lake Group siltstones has been traced for about 100 metres by trenches, shafts and pits that date as far back as 1913. Mineralization consists of pyrite, sphalerite, galena, chalcopyrite and tetrahedrite in a siliceous breccia matrix. A 5.5 metre continuous chip sample taken across the zone in 2007 by Strategic Metals assayed 2.57% lead, 7.30% zinc, 1.71% copper, 431 g/t (12.57 oz/ton) silver and 0.034 g/t gold. Potential on-strike extensions of the mineralized zone are obscured by vegetation and a thick blanket of glacial till.

Under terms of the agreement, Strategic Metals will have the optional right to earn a 100% interest in the property, subject to a 2% net smelter return royalty (half of which can be purchased at any time for $1,000,000). To earn its interest Strategic Metals must make cash payments totalling $150,000 to the prospector and issue him a total of 200,000 of its common shares, in five increments before March 1, 2013. The option agreement is subject to acceptance by the TSX Venture Exchange.


Robert C. Carne, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

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