BOULDER, Colo., Feb. 21, 2007 (PRIME NEWSWIRE) -- Strategic Resources, Ltd. (OTCBB:SGCR) is pleased to announce that, on December 1, 2006, it acquired from Somuncurah SRL, an Argentine entity, a four-year option to purchase certain uranium exploration properties located in the province of La Rioja, Argentina. The properties consist of seven groups of uranium exploration properties covering an aggregate area of 29,950 hectares. The aggregate acquisition price is approximately $3.6 million, due and payable in stages through November 2010, with the reservation of a 1.5% net smelter return royalty interest to Somuncurah.
"We are excited about the prospects for exploration and development of these properties," said John Anderson, Chief Executive Officer of Strategic Resources. "Certain of the benefits of this acquisition are that prior operators in the area already performed considerable exploration work, and that the infrastructure is appropriate for uranium exploration and development."
The properties are located in proximity to other exploration properties currently being explored by other companies or in proximity to properties previously claimed by the Argentine National Commission of Atomic Energy (C.N.E.A.).
About Strategic Resources:
Strategic Resources, Ltd. is in the business of exploring, acquiring, and developing advanced precious metals and base metals properties. The Company's shares are quoted on the OTC Bulletin Board under the symbol "SGCR."
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the satisfactory completion of various surveys, the availability of sufficient operating capital to effectuate our business plans; fluctuations in the price of precious and non-precious metals; stock price fluctuations; and other risks. These risks are and will be detailed, from time to time, in Strategic Resources' Securities and Exchange Commission filings, including its Forms 10-KSB, 10-QSB, and 8-K. Actual results may differ materially from management's expectations.
For further information please visit our web site at www.strategicresourcesltd.com