June 13, 2016 - Strategic Metals Ltd. (TSX-V: SMD) ('Strategic') is pleased to announce that its crews have mobilized to Yukon to begin Phase I of the 2016 exploration program, which will acquire additional information concerning some of Strategic's most prospective gold projects.
'In 2015, Strategic made several promising discoveries during brief property examinations. The Phase I program is designed to better assess the significance of those discoveries,' states Doug Eaton, the CEO and President of Strategic. 'Strategic has a stellar pipeline of gold and/or silver projects including: 16 that are drill-confirmed and open to extension, 17 that host high-grade showings but have not yet been drill-tested, and 44 that are still considered to be early-stage prospects. Once the Phase I results are available, all of the projects will be re-evaluated and selected targets will be drilled.'
Strategic currently has Class 3 land use approvals for large drill programs at 11 of its projects and has applications in process for another 12 projects. All of Strategic's projects are wholly-owned and nearly all have no underlying royalties attached to them. Strategic is discussing potential options for some of the projects with other parties and invites new inquiries.
About Strategic Metals Ltd.
Strategic is a project generator and the largest claim holder in Yukon, which the Fraser Institute recently rated as the best jurisdiction in Canada for mineral potential. Strategic's portfolio of more than 100 projects is the result of 50 years of focussed exploration and research by a team with a track record of major discoveries. Current projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings, geochemical anomalies and geophysical features, similar to those at nearby deposits.
Strategic has a current cash position of over $20 million and significant shareholdings in a number of active mineral exploration companies including 42.79% of Rockhaven Resources Ltd., 8.6% of ATAC Resources Ltd., 28.7% of Precipitate Gold Corp., and 19.9% of Silver Range Resources Ltd.
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]
http://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.