SMD Strategic Metals Ltd New

Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") announces that it has
granted incentive stock options under its Incentive Stock Option Plan to its
directors and officers and certain employees and consultants, entitling them to
purchase up to a total of 2,590,000 shares at a price of $0.80 per share for
period of five years. All of these options are subject to vesting provisions
under which 25% of the options will vest at the conclusion of each three months
during the first year of the exercise period.


Strategic also announces that the exercise price of options previously granted
to certain employees and consultants in respect of a total of 615,000 shares has
been re-priced from either $2.82 or $1.45 to $0.80 per share, subject to
regulatory acceptance. No options currently held by Strategic officers or
directors have been re-priced.


About Strategic Metals Ltd.

Strategic is a pre-eminent explorer and claimholder in the Yukon, with an
exceptional portfolio of more than 160 property and royalty interests. Strategic
also owns marketable shares of other resource companies, including 9.9% of ATAC
Resources Ltd., 19.5% of Silver Range Resources Ltd. and 32.8% of Rockhaven
Resources Ltd.


ON BEHALF OF THE BOARD

W. Douglas Eaton, President and Chief Executive Officer

For additional information concerning Strategic Metals Ltd. please visit
Strategic's website at www.strategicmetalsltd.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
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

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