SOURCE: Strategic Rare Earth Metals, Inc.

November 24, 2010 15:30 ET

Strategic Rare Earth Metals, Inc. (PINKSHEETS: SREH) Appoints New Chief Executive Officer

CEO Anthony DiBiase Relinquishes Position to Focus Full Attention on Encounter Technologies

NEW YORK, NY--(Marketwire - November 24, 2010) - Strategic Rare Earth Metals, Inc. (PINKSHEETS: SREH) announced today that Anthony DiBiase has resigned as the company's Chief Executive Officer to focus fully on his position as CEO of Encounter Technologies, Inc. The SREH Board of Directors appointed Terrence Rodrigues as the new Chief Executive Officer effective today. Rodrigues has comprehensive expertise in international financing and management with a strong record of success. DiBiase will continue to work with the Board of Directors and Rodrigues through a transition period.

"I am grateful to shareholders for their support while serving as CEO of SREH," commented DiBiase. "As Encounter Technologies launches MusicMatrix.com and develops internet yellow pages platforms, it demands my full and undivided attention. This is a necessary and beneficial step to accommodate the success of both companies and precipitated growth in 2011. I am confident that Terrence will bring tremendous value and leadership to SREH and its shareholders."

Rodrigues received his Bachelor of Commerce degree from The University of Toronto, thereafter articling at Clarkson Gordon (later known as Ernest and Young) where he became a Chartered Accountant. He served as Controller and Treasurer for Lehndorff Property Management where his accomplishments included establishing The Chancellor Trust Company. As Controller and Accounting Manager for Royal LePage, he managed assets in excess of 200 million dollars. Rodrigues owned a thriving Consulting and Accounting business and was elected as Director of PSI Gate Merchant Services and Products, a publicly traded Canadian Venture Company. 

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Strategic Rare Earth Metals, Inc. under takes no obligation to update such statements.

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