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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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
Corporate Communications
Strategic Metals Ltd.
604-687-2522
graham@nordacres.com, rdrechsler@archercathro.com

STRATEGIC METALS LTD.

Per: W. Douglas Eaton, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.