SMD Strategic Metals Ltd New

Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") is pleased to announce
that it has signed a binding letter of intent with Rackla Metals Inc. granting
Strategic the option to acquire an undivided 60% interest in the Scarlet East
claim block. Strategic can exercise the option by making $5,000,000 in
exploration expenditures on the property as follows:




--  $500,000 on or before December 31, 2013; 
--  an additional $1,000,000 on or before December 31, 2014; 
--  an additional $1,500,000 on or before December 31, 2015; and 
--  an additional $2,000,000 on or before December 31, 2016.



Strategic is also required to complete not less than 1,000 meters of drilling on
or before December 31, 2012. Upon exercising the option, Strategic and Rackla
will respectively hold 60% and 40% interests in the property.


The Scarlet East Claims

The Scarlet East property consists of 230 claims (47.8 sq km) covering
prospective stratigraphy in the newly-defined Nadaleen Trend, an emerging
district of Carlin-type gold prospects located in east-central Yukon. The
property directly abuts claims held by ATAC Resources and lies approximately 10
km southeast of its major Osiris, Conrad and Isis East discoveries. 


Soil geochemical surveys and first pass geological mapping done by Rackla Metals
in 2011 have confirmed a favourable setting for Carlin-type gold mineralization
at the Scarlet East property. Soils collected from the eastern portion of the
claim group returned encouraging gold-arsenic-antimony-mercury values with a
distinct Carlin-type signature. A series of north-northwest-trending anomalies,
measuring up to 1,500 m long by 500 m wide, contain arsenic values from 100 to
8,468 ppm together with gold values from 20 to 221 ppb. The anomalous areas are
underlain by favourable off-shelf carbonate stratigraphy, including gossanous
silty limestone, within a prominent southeast-trending antiform.


The Scarlet East property compliments Strategic's other claim holdings in the
area, which comprise its wholly-owned, 1,200 sq km Midas Touch project. A
comprehensive exploration program is planned for the Midas Touch project in
2012, involving at least two drills to test large-scale Carlin-type hydrothermal
systems at the Crag, Crag East and other realgar-bearing prospects in the area.
Strategic will simultaneously complete follow-up prospecting and detailed
sampling of numerous other geochemical anomalies throughout the project, in
order to rapidly advance new discoveries to the drill stage. 


Qualified Person

Roger Hulstein, BSc, P.Geo., is a member of the Association of Professional
Engineers and Geoscientists of British Columbia and is the Company's Qualified
Person as defined by National Instrument 43-101. Mr. Hulstein is responsible for
the accuracy of the technical information in this news release.


About Strategic Metals Ltd.

Strategic is a pre-eminent explorer and claimholder in the Yukon, with an
exceptional portfolio of 160 property and royalty interests. The Company also
owns marketable shares of other resource companies, including 9.7% of ATAC
Resources Ltd., 18.8% of Silver Range Resources Ltd., 26.1% of Rockhaven
Resources Ltd., and 19.9% of Wolverine Minerals Corp.


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. 


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.

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