Strategic Metals Ltd. Announces Appointment of Gordon Davis to Board of Directors
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/11/11 -- Strategic Metals Ltd. (TSX VENTURE: SMD) ('Strategic' or the 'Company') is pleased to announce that Mr. R.E. Gordon Davis has been appointed to the Board of Directors of the Company.
Gordon Davis has a long association with Yukon. He was a director and senior officer of Dynasty Exploration, and its successor corporation, Cyprus Anvil Mining Corporation from 1964 to 1982. Since that time he has been a director of a number of resource companies, including Pine Point Mines, Cabre Exploration, Golden Knight Resources, and Silver Standard Resources. He was chairman and CEO of Canplats Resources Corporation that was acquired by Goldcorp for $300 million in 2010. Mr. Davis is currently chairman and CEO of Camino Minerals Corporation and a director of Pacific Ridge Exploration. He graduated from the University of British Columbia with a Bachelor of Applied Science in Geological Engineering in 1962.
'We are very excited to have someone of Gordon's stature join the Board of Directors,' states Doug Eaton, Strategic's President and CEO. 'His extensive corporate and management experience will be a major asset to Strategic as we advance our exceptional project portfolio in Yukon. We welcome Mr. Davis and look forward to his valued input as the newest member of the Board.'
In conjunction with Mr. Davis's appointment, Strategic has granted to him an incentive stock option in respect of 200,000 shares, exercisable at $3.28 per share for a period of five years.
About Strategic Metals Ltd.
Strategic is a pre-eminent explorer and claimowner in the Yukon, with 61 properties under option to other companies, 15 properties subject to sales or joint venture agreements, and more than 79 wholly-owned properties. Strategic also holds royalty interests in 16 projects, including a net smelter return royalty on part of the Wolverine Deposit which is scheduled to commence production in 2011. Strategic currently has approximately $27 million in cash and owns marketable shares of other resource companies with a total value exceeding $86 million. Strategic recently completed a $17 million private placement with and transferred its highly-prospective Silver Range and Mint projects into Silver Range Resources Ltd. for Silver Range shares and warrants. The majority of these shares and warrants will be transferred to Strategic shareholders of record on a pro-rata basis as part of a proposed plan of arrangement, to be voted on at a special meeting of Strategic shareholders expected to be convened in May, 2011. Advance notice of the effective record date will be provided in due course.
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.
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. - Corporate Information
W. Douglas Eaton
President and C.E.O.
(604) 688-2568
Strategic Metals Ltd. - Corporate Information
Bruce A. Youngman
Chairman
(604) 687-2522
Strategic Metals Ltd. - Investor Inquiries
Richard Drechsler
Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
www.strategicmetalsltd.com