Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic" or "the Company") is
pleased to announce exploration and drilling plans for its wholly-owned Midas
Touch project and optioned Scarlet East project, both located in the Rackla Gold
Belt of eastern Yukon Territory. The projects cover more than 1,200 sq km area
of favourable, off-shelf carbonate-bearing stratigraphy that is prospective for
Carlin-style gold mineralization. The property area adjoins the south side of
claims where ATAC Resources Ltd. has identified a number of significant
Carlin-style gold zones, including its Conrad, Osiris, Isis and Isis East
discoveries. 


Strategic's 2012 exploration program is scheduled to commence in early June and
will drill test seven priority targets for Carlin-style gold mineralization. A
budget of $5 million has been approved, which will include at least 8,000 m of
drilling on the following targets:


Crag East Property (14 km WSW of ATAC's discoveries):



--  The Malbec Zone: A first-ever drilling program will test a 2,300 m by
    100-650 m, open-ended soil geochemical anomaly containing strong
    pathfinder elements (arsenic-mercury-antimony-thallium) and locally
    elevated gold (10 to 2,410 ppb) values that are associated with
    orpiment-realgar mineralization.
      
--  The Merlot Zone: An open-ended, 3,000 m by 1,000 m soil geochemical
    anomaly containing strong pathfinder elements has been outlined. Four
    2011 drill holes intersected broad intervals of realgar mineralization
    and very high pathfinder elements within favourable silty limestone host
    rocks that have been intensely clay altered and decarbonatized. The
    holes tested below a prospecting discovery, before geochemical analyses
    were completed, and are located in a relatively weak part of the soil
    anomaly.
      
--  The Shiraz Zone: Strong clay alteration and silicification together with
    elevated pathfinder elements were encountered in two reconnaissance
    drill holes completed below an arsenic-rich gossan. 



Crag Property (40 km west of ATAC's discoveries):



--  The Trent Zone: Drilling in 2011 (12 holes) intersected favourable
    orpiment/realgar mineralization, strong pathfinder signatures, and
    increasing gold values to depth. The 2012 program will use a larger
    drill to test deeper in the hydrothermal system.
      
--  The Crag South Zone: Located 1,250 m to the south of the Trent Zone, a
    first phase drilling program will target a 700 m long by 250 m wide soil
    geochemical anomaly containing a strong pathfinder signature and higher
    gold values (20 to 372 ppb) than overlie the Trent Zone.  



Nad Property (22 km ESE of ATAC's discoveries):



--  A drilling program will test orpiment-realgar mineralization associated
    with a 1,400 by 400 m soil geochemical anomaly containing strong
    pathfinder elements and anomalous gold values. This anomaly has never
    been drilled. 



Scarlet East Option (10 km ESE of ATAC's discoveries):



--  A first phase drilling program will target a series of northwest-
    trending gold and pathfinder soil anomalies associated with gossanous
    carbonate stratigraphy and a prominent southeast-trending antiform
    outlined by Rackla Metals Inc in 2011. Strategic can earn a 60% interest
    in the Scarlet East project by completing at least 1,000 m of drilling
    in 2012 and incurring $5 million in exploration expenditures prior to
    the end of 2016.  



Other Geochemical Anomalies: 

Strategic will also complete follow-up prospecting and detailed sampling at
numerous other geochemical anomalies elsewhere within the Midas Touch project.
These include the Hag anomaly, situated 9 km to the southwest of the Trent Zone
and the Staff anomaly, located 18 km to the west of ATAC's Tiger Zone. This
fieldwork is designed to rapidly advance new discoveries to the drilling stage.


Maps and cross-sections related to the Midas Touch project can be viewed at the
Company's website at www.strategicmetalsltd.com. Matthew Dumala, P.Eng., has
reviewed and approved the technical information contained in this news release.
Mr. Dumala is a qualified person as defined by National Instrument 43-101.


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 9.6% of ATAC
Resources Ltd., 18.8% of Silver Range Resources Ltd., 26.1% of Rockhaven
Resources Ltd, 19.9% of Precipitate Gold Corp., 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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