Strike Minerals Inc.
TSX VENTURE : STK

Strike Minerals Inc.

December 07, 2011 13:14 ET

Strike Hires VP Mine Development for the Edwards Gold Mine Project and Appoints New Director

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2011) - Strike Minerals Inc. ("Strike" or the "Company") (TSX VENTURE:STK) announces the appointment of Bruce Staines, P.Eng. as "Vice President Mine Development, and focusing on the Edwards Mine Project". Mr. Staines has over 50 years in the mining and construction industries in Canada and North America and extensive experience with mining highly concentrated ore deposits, both on surface and at depth.

Strike is also pleased to announce the appointment of Ian McColl, P.Eng. to the Board of Directors of the company. Mr. McColl has five decades of experience in production plant operations and management, project management and engineering for the minerals and other resource industries both in Canada and worldwide.

Mike Newbury, President & CEO of Strike, comments, "In appointing Mr. Staines we have a highly experienced person with the detailed knowledge of narrow stope mining which is prevalent in Ontario". Mr. Newbury added, "Mr. Staines' background and success with projects of this kind will support on-target completion of milestones in Strike's development plan at the Edwards mine."

Mr. Newbury further comments, "The Board of Directors will be greatly strengthened by Mr. McColl's operational and technical expertise in the construction and operation of gold and other mining projects worldwide".

Mr. Staines has been responsible for the safe and efficient operations of underground and open pit mining projects in senior management positions throughout his career. He has developed budgets for underground exploration and development programs for 500 tpd track/trackless narrow vein gold mines similar to the Edwards Mine. In addition, Mr. Staines has supervised construction and contract administration for multi-million dollar construction projects. His career included positions as General Manager for Claude Resources and Mine Superintendent for Central Patricia Mines.

Ian McColl's early career focused on design, operating and management functions in base and precious metals mines. Over a twenty five year period, he was in charge of an engineering and construction management group at Davy McKee which successfully executed major mining projects not only in Canada but also in many other regions of the world including Iran, Cuba and countries of the Former Soviet Union. After retiring from the successor company of Davy McKee, he joined Hatch Associates where he relocated to Russia as Managing Director, Hatch Russia and CIS for several years.

In addition Strike is issuing shares owed for past transactions and services as part of general housekeeping, 809,100 shares are being paid to settle past trade payables and consulting fees associated with the original Hemlo West property purchase. Further, 600,000 shares are being delivered to First Minerals as previously released (Dec. 15, 2010).

ABOUT STRIKE MINERALS

Strike Minerals is a TSX-V listed company that is engaged in the exploration and development of precious metal properties in Canada. Its primary property is the former producing Edwards Gold Mine property in the Goudreau - Lochalsh Gold Camp near Wawa, ON. Historic production in the camp between 1930 and 2001 is estimated at 500,000 ounces of gold. Between 1996 and 2001 underground development was completed through a decline to a depth of approximately 290 m resulting in 145,000 oz Au being mined from the Edwards property.

Subsequent drilling on the property has delineated an additional five mineralized zones that have significant gold mineralization. Strike has commenced dewatering of the underground workings in order to provide access to enable underground drifting and drilling and bulk sampling of these new zones. The dewatering will also enable Strike to evaluate old stopes and high grade mineralization that remained underground when the mine was closed in 2001, due to low gold prices.

Strike also has a large land position in the Hemlo West area near Schreiber, Ontario. The Property has a number of historic producers that produced small tonnages of very high grade gold mineralization, averaging approximately 18-25 g/t gold, between 1935 and 1937 generally associated with shear zones in the region. Strike will conduct an initial program of surface geological and alteration mapping on the Property with a goal of increasing the understanding of the geologic and structural relationships on the Property in preparation for drill testing to assess the extent and value of the mineralization.

All technical information in this press release has been reviewed and approved by Mike Newbury, P.Eng. who is a Qualified Person ("QP") under National Instrument 43-110.

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