Strategic Metals Ltd. Receives $5,955,000 Through the Exercise of Share Purchase Warrants
August 17, 2010 -- Strategic Metals Ltd. (TSX-V: SMD) ("Strategic") announces that it has received $5,955,000 through the exercise of 9,925,000 common share purchase warrants at a price of $0.60 per share. All of these warrants were issued as part of a private placement completed by Strategic in August 2007. The exercise price of these warrants was originally set at $1.20, and subsequently reduced to $0.60, with the term of these warrants having been extended by one year to August 14, 2010, as disclosed in Strategic's July 28, 2009 and August 13, 2009 News Releases. The remaining 1,075,000 warrants issued in this private placement have expired unexercised.
For further information concerning Strategic or its various exploration projects please visit our website atwww.strategicmetalsltd.com or contact:
Graham Downs or Richard Drechsler
Strategic Metals Ltd.
STRATEGIC METALS LTD.
Per: W. Douglas Eaton, President and Chief Executive Officer
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.