Strategic Metals Ltd. Announces Appointment of Bruce Youngman as Chairman of the Board And Granting of Incentive Stock Options
October 7, 2010 - Strategic Metals Ltd. (TSX-V: SMD) ("Strategic" or the "Company") is pleased to announce that Mr. Bruce A. Youngman has been appointed Chairman of the Board of Directors of the Company.
Mr. Youngman has over twenty-five years of experience in the international minerals industry. From 2008 to 2010, he was President and COO of Canplats Resources Corporation, during which time the 4 million ounce Camino Rojo deposit in Mexico was outlined and the company was acquired by Goldcorp Inc for $300 million. Mr. Youngman previously held senior positions with Northern Dynasty Minerals Ltd., including President, Vice-President and Director, and was closely involved in the acquisition and expansion of the Pebble Gold-Copper Porphyry Project in Alaska. Mr. Youngman graduated with a Bachelor of Science degree in geology from the University of British Columbia.
"The addition of Bruce to Strategic's team is seen as an important step in achieving the Company's goal of becoming a pre-eminent explorer for large silver and gold deposits" states Doug Eaton, Strategic's President and CEO. "He brings valuable corporate and operating experience, and will have a key role in communicating our exploration strategies and successes to the investment community."
In conjunction with Mr. Youngman's appointment, Strategic has granted incentive stock options to Mr. Youngman and to various of its directors, officers, employees and consultants in respect of 1,800,000 shares, exercisable at $1.55 per share for a period of 5 years.
The Company also announces that it anticipates closing the $15 million private placement announced on September 22, 2010 within the next few days. Further information in this regard will be disseminated in due course.
Strategic is a well-funded resource company with a large and diverse portfolio of exploration projects, mostly located in Yukon Territory. For further information concerning Strategic or its various exploration projects please visit our website atwww.strategicmetalsltd.com.
On behalf of the Board
STRATEGIC METALS LTD.
W. Douglas Eaton, President and CEO
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.