TSX: SRZ (Cmn Shs)
SRZ.NT (Notes)
SRZ.NT.A (Notes)
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Suite 401, One University Avenue
Toronto, Ontario
M5J 2P1
(416) 861-0430
www.sra-corporation.com
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PRESS
RELEASE
SRA enters into agreement to sell Germanium
and Gallium in leachate
TORONTO, May 21, 2008 – Strategic Resource
Acquisition Corporation (“SRA”
or the “Company”) is pleased to announce that it has entered into an
agreement with Recapture Metals Limited (“Recapture”) for the sale
of Germanium (Ge) and Gallium (Ga) associated with its Mid-Tennessee zinc concentrate.
Pursuant to the agreement,
SRA has agreed to sell to Recapture a significant portion of future smelter leachate
for the first two years of production. On an annualized basis, total smelter
leachate is expected to be in excess of 12,000 tonnes.
Historically, processing
of the leachate was limited to Ge recovery and excluded any value for Ga due to
technological limitations of former processing methods. Recapture, known for
its recovery and purification of high quality Gallium products, will use its
processing capability to further increase Ga payable and potentially offer SRA
additional metal value.
“This agreement enables
us to realize immediate contributions for our Ge and Ga concurrent with our
plans towards developing a processing facility to maximize recoveries”,
commented Victor Wyprysky, CEO of
SRA Corporation. “The recovery rates for Ge have traditionally been much
higher than Ga and access to state of the art technology to optimize both
metals will strengthen SRA’s position in the global marketplace”
When in full production,
SRA expects to produce about 35,000 kg of each of Ge and Ga, currently trading
at approximately US$1,400 per kg and US$500 per kg respectively. These metals are
used chiefly in the semiconductor and electronics industries with applications
in wireless devices, high brightness LED’s, fibre optics, PET catalysts
and solar energy.
About
SRA
SRA
Corporation is focused on the development of the Mid-Tennessee zinc mining
complex (MTM) in the State of Tennessee.
The MTM is located approximately 50 miles east of Nashville with excellent infrastructure
including roads, water, power, major airport and access to a well-trained
workforce. MTM will produce one of the highest quality zinc concentrates in the
world and efforts are underway to establish recovery methods for the valuable
germanium and gallium contained in the zinc smelter concentrate. Once in full production, the
Gordonsville Complex at MTM is expected to be the largest zinc producer and
domestic source of germanium and gallium in the continental USA.
The
Company also plans to explore and develop additional properties and redeploy
cash flow to pursue a strategy of accretive acquisitions.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" which may
include, but is not limited to, statements with respect to the future financial
or operating performance of the Company and its projects, the future price of
zinc or other metal prices, the estimation of mineral resources and realization
of mineral resource estimates, the timing and amount of estimated future
production, costs of production, capital, operating and exploration
expenditures, costs and timing of the development of new deposits and future
exploration, requirements for additional capital, government regulation of
mining operations, environmental risks, reclamation expenses, title disputes or
claims, limitations of insurance coverage and the timing and possible outcome
of regulatory matters. These statements reflect management's current beliefs and are based on information
currently available. Forward-looking statements involve significant risks,
uncertainties and assumptions and other factors that may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by
the forward-looking statements. A number of factors could cause actual results
to differ materially from the results discussed in the forward-looking
statements, including those listed in the ''Risk Factors'' section of the Company's
prospectus on file with Canadian provincial securities regulatory authorities.
For
further information, please email info@sra-corporation.com or
contact:
Victor P. Wyprysky Ian M. MacNeily
President and Chief Executive Officer Executive
VP and Chief Financial Officer
Tel: (416) 861-0430 ext. 1833 Tel:
(416) 861-0430 ext. 1422
Email: victor.wyprysky@sra-corporation.com Email: ian.macneily@sra-corporation.com
Donna Yoshimatsu
VP Investor Relations &
Communications
Tel: (416) 861-0430 ext. 1003
Email:
donna.yoshimatsu@sra-corporation.com