American Marconi Wireless News - Strategic Metals Closes Project Sale

Pursuant to the terms of the Agreement, Cascadia will acquire a 100% interest in the Byng and Mars mineral properties located in southern Yukon near Whitehorse, known as the Byng and Mars projects (together, the "Property"). In consideration for the acquisition of the Property, Cascadia has made a cash payment of $125,000 and issued 500,000 common shares at a deemed price of $0.25 to Strategic. The Property is subject to 2% Net Smelter Return royalty ("NSR") in favour of Strategic. Cascadia has the right to purchase one-half (1%) of the NSR for $2,000,000 (subject to CPI adjustment) at any time prior to a production decision. In addition, the DDH claims comprising part of the Mars Property are subject to an existing 1% NSR royalty held by a third party.

About Strategic Metals Ltd.

Strategic is a project generator with 18 royalty interests, 14 projects under option to others, and a portfolio of 79 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $3 million and large shareholdings in several active mineral exploration companies including 32% of Broden Mining Ltd., 30.4% of GGL Resources Corp., 28% of Rockhaven Resources Ltd., 15.5% of Silver Range Resources Ltd., and 4.3% of Trifecta Gold Ltd. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc. ("Terra"), a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently broke ground on its first low-carbon cementitious materials facility in Cleburne Texas following the closing of a US$124.5M financing.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"
President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
[email protected]
https://www.strategicmetalsltd.com

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.

SOURCE: Strategic Metals Ltd.

View the original press release on ACCESS Newswire

Ch.Kahalev--AMWN