Strategic Metals Ltd. Announces $15 Million Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/22/10 -- Strategic Metals Ltd. (TSX VENTURE: SMD) ('Strategic') announces that subject to regulatory acceptance, it will carry out a $15 million non-brokered private placement. The placement will consist of the sale of up to 10,350,000 common shares at a price of $1.45 per share. Proceeds from the placement will be used to finance 2011 exploration activities on Strategic's Yukon mineral projects and as unallocated working capital. A finder's fee may be paid on all or a portion of the placement proceeds.

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

STRATEGIC METALS LTD.

W. Douglas Eaton, President and Chief Executive Officer

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.

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.

Contacts:

Strategic Metals Ltd.

Graham Downs

Corporate Communications

604-687-2522
graham@nordacres.com


Strategic Metals Ltd.

Richard Drechsler

Corporate Communications

604-687-2522
rdrechsler@archercathro.com
www.strategicmetalsltd.com