Strongbow Exploration Inc.
TSX VENTURE : SBW

Strongbow Exploration Inc.

May 14, 2008 15:30 ET

Strongbow Announces $3.3 Million Flow Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2008) -

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Strongbow Exploration Inc. (TSX VENTURE:SBW) announces that it has appointed Canaccord Capital Corporation as its lead agent, in a syndicate with Haywood Securities Inc. (together, the "Agents") to offer, on a private placement basis, up to 7,500,000 flow through units of Strongbow at a price of $0.40 per flow through unit for gross proceeds of up to $3,000,000 and that it has arranged for a non-brokered private placement of an additional 750,000 flow through units for further proceeds of $300,000. In addition, the Lead Agent has an over-allotment option to place a further 1,750,000 flow-through units, exercisable up to 48 hours prior to completion of the offering. Each flow through unit, whether brokered or non-brokered, (a "FT Unit") will consist of one flow through share (a "FT Share") and one-half of one common share purchase warrant (each whole such purchase warrant being a "Warrant"). Each Warrant will be exercisable into one common share at a price of $0.45 for a period of twelve months from Closing.

The net proceeds from the private placement financing will be used to fund exploration of Strongbow's Snowbird nickel project properties, including the Nickel King property, and its other Canadian mineral properties. Usage of these funds will constitute Canadian exploration expenses (as defined in the Income Tax Act) and renounced for the 2008 taxation year.

The Company has agreed to pay the Agents a fee of 7% of the gross proceeds from the sale of the FT Units sold through them, payable in cash or non-flow-through units (the "Compensation Units") at the option of the Agents, each Compensation Unit to be issued at $0.40 per unit and consisting of one common share of the Company and one half of one common share purchase warrant, with such warrants having the same terms as the Warrants issued to the subscribers.

As additional compensation, the Agents will be issued broker's warrants entitling the Agents to subscribe for that number of common shares of the Company equal to 7% of the number of FT Units sold by the Company through the Agents, at $0.40 per share exercisable for a period of twelve (12) months from the date of the closing of the offering. In addition, the lead Agent will be paid a corporate finance fee.

The offering of the FT Units is subject to regulatory approval.

STRONGBOW EXPLORATION INC.

Kenneth A. Armstrong, President and CEO

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

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