STK

Strike Minerals Inc. (TSX VENTURE:STK) ("Strike" or the "Company") announced
today that it has completed a private placement (the "Offering") of 5,263,629
flow through units ("FT Units") at a price of $0.15 per FT Unit and 7,420,000
non flow-through units ("Non-FT Units") at a price of $0.125 per Non-FT Unit for
total gross proceeds of $1,717,044.35.


Each FT Unit consists of one (1) flow-through common share of the Company
("Flow-Through Share") and one half (1/2) of one common share purchase warrant
(a "Warrant"), and each Non-FT Unit consists of one (1) common share of the
Company (a "Common Share") and one half (1/2) of one Warrant. Each full Warrant
entitles the holder to acquire one Common Share of the Company at an exercise
price of $0.20 for a period of 18 months from the closing date. 


Euro Pacific Canada Inc., together with Foundation Markets Inc. and their
sub-agents, received an aggregate cash commission of $137,363.56 and a total of
1,014,690 compensation options, each being exercisable into one Non-FT Unit
within 18 months of closing at an exercise price of $0.125. 


All securities issued in the Offering are subject to a statutory four month hold
period. 


The proceeds of the Offering will be used to fund surface exploration programs
at the Company's Schreiber property including drilling on the western extension
of the Afric gold mineralized zone, for underground development and exploration
at the Edwards mine and for general working capital purposes. The proceeds from
the issuance of FT Units will be used for Canadian exploration expenses (as
defined under the Income Tax Act (Canada)) and will be renounced for the 2012
taxation year. 


About Strike 

Strike Minerals is a TSX-V listed company that is engaged in the exploration and
development of precious metal properties in Canada. Its primary property is the
former producing Edwards Gold Mine property in the Goudreau - Lochalsh Gold Camp
near Wawa, ON. Historic production in the camp between 1930 and 2001 is
estimated at 500,000 ounces of gold. Between 1996 and 2001 underground
development was completed through a decline to a depth of approximately 290 m
resulting in 145,000 oz Au being mined from the Edwards Property.  


Subsequent drilling on the property has delineated an additional five zones that
have significant gold mineralization. Strike has commenced dewatering of the
underground workings in order to provide access to enable underground drilling
and bulk sampling of these new zones. The dewatering will also enable Strike to
evaluate old stopes and high grade mineralization that was not mined when the
mine was closed due to low gold prices in 2001. 


Strike also has a large land position in the Hemlo West area near Schreiber,
Ont. The property has a number of historic producers that produced small
tonnages of very high grade gold mineralization, averaging approximately 18-25
g/t gold, between 1935 and 1937 generally associated with shear zones in the
region. These shear systems have seen very little modern exploration, and drill
testing at or near a prominent syenite volcanic contact is considered highly
prospective for the discovery of additional gold mineralization. Strike will
conduct an initial program of surface geological and alteration mapping on the
Property with a goal of increasing the understanding of the geologic and
structural relationships on the Property in preparation for drill testing to
assess the extent and value of the mineralization. 


About Euro Pacific Canada Inc. 

Euro Pacific Canada is an IIROC registered brokerage headquartered in Toronto,
Ontario specializing in foreign markets, precious and strategic metals
investing. The firm offers an integrated platform of investment banking,
institutional sales and trading, research, and private client services following
the advice laid out by Euro Pacific Capital's Chief Global Strategist, Peter
Schiff, an internationally recognized economist and market strategist.
Additional information is available at www.europac.ca. 


About Foundation Markets Inc. 

Foundation is a Toronto-based boutique investment bank and corporate finance
advisory firm licensed as an Exempt Market Dealer. The firm is focused on
working with small and medium-sized companies with rapid growth potential,
specializing in assisting pre-public clients in accelerating access to private
capital and executing going-public transactions. Foundation also works with
public companies on financing, mergers and acquisitions transactions, and
strategic advisory services. 


Forward-Looking Statements 

Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Strike, including, but
not limited to, the impact of general economic conditions, industry conditions,
volatility of commodity prices, risks associated with the uncertainty of
exploration results and estimates and that the resource potential will be
achieved on exploration projects, currency fluctuations, dependence upon
regulatory approvals, and the uncertainty of obtaining additional financing and
exploration risk. There is no assurance that the company's exploration projects
will add to Strike's resource base in the short-term, or at all. Readers are
cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward-looking
statements.

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