Strategic Metals Ltd. Closes Fully Subscribed Private Placement

VANCOUVER, July 24, 2019 - Strategic Metals Ltd. (TSX-V: SMD) ( €œStrategic € or the €œCompany €) announces that it has closed the private placement announced on June 25, 2019. The private placement consisted of the sale of the following securities:

(a) 5,128,206 flow-through units at a price of $0.39 per flow-through unit, raising gross proceeds of $2,000,000.34, each flow-through unit consisting one flow-through common share and one-half (1/2) of a share purchase warrant, each whole warrant entitling the holder to purchase one additional common share at a price of $0.40 until July 22, 2021; and

(b) 2,000,000 units at a price of $0.30 per unit, raising gross proceeds of $600,000, each unit consisting of one common share and one-half (1/2) of a share purchase warrant, each whole warrant having the same terms as disclosed in (a) above in respect of the warrants forming part of the flow-through units.

The proceeds from the private placement will be used to finance further exploration at certain of the Company €™s mineral properties (see news release dated May 9, 2019) and for working capital purposes.

The Company paid cash finders €™ fees totalling $34,277.87 and issued 122,422 finder warrants among Haywood Securities Inc., Canaccord Genuity Corp., PI Financial Corp. and Sprott Capital Partners LP in connection with the closing of this private placement. Each finder warrant has the same terms as the warrants forming part of the flow-through units and units disclosed above.

All securities issued pursuant to this private placement, including any shares that may be issued pursuant to the exercise of either the share purchase warrants forming part of the flow-through units or the units or the finder warrants, are subject to a hold period in Canada until November 23, 2019.


About Strategic Metals Ltd.

Strategic is a project generator with a portfolio of more than 130 projects that are the product of over 50 years of focused exploration and research by a team with a track record of major discoveries. Current projects include 115 wholly-owned, 5 joint-ventures, 5 under option and 8 royalty interests. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings, geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of over $10 million and large shareholdings in a number of active mineral exploration companies including 41.7% of Rockhaven Resources Ltd., 37.3% of GGL Resources Corp., 27.7% of Precipitate Gold Corp., 17.8% of Silver Range Resources Ltd., 9.1% Trifecta Gold Ltd., and 6.4% of ATAC Resources Ltd.


ON BEHALF OF THE BOARD

€œW. 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 or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton, President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler, V.P. Communications
Tel: (604) 687-2522, NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
www.strategicmetalsltd.com



The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account of or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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.

Not for dissemination or distribution in the United States and not for distribution to United States news wire services


SOURCE: Strategic Metals Ltd.