Strike Minerals Announces Partial Closing of a Private Placement of Gross Proceeds of $483,000

Strike Minerals Inc. (TSX VENTURE:STK) ("Strike" or the "Company") announced
today that it has closed a partial Private Placement (the "Offering"). The
financing is a combination of 3,470,000 flow-through Units ("FT Units") at a
price of $0.10 per FT Unit and 1,600,000 common share units "Common Unit") at a
price of $0.085 per Common Unit for a total gross proceed of $483,000.


Each FT Unit, at a price of $0.10 per FT Unit, consists of one (1) Flow-Through
share of the Company ("Flow-Through Share") and one half (1/2) of one common
share purchase warrant of the Company (a "Warrant") and each Common Unit, at a
price of $0.085 per Common Unit consists of one (1) common share of the Company
(a "Common Share") and one Warrant. Each full Warrant entitles the holder to
acquire one Common Share of the Company at a price of $0.12 per Common Share for
a period of 12 months from the closing date. Agents will be entitled to a cash
commission in the amount of 8% of the gross proceeds received from the sale of
the Offering, and broker warrants ("Broker Warrants") equal to 8% of the
aggregate number of Common Units and FT Units issued in the Offering. Each
Broker Warrant will be exercisable into one Common Unit at a price of $0.085 per
Common Unit for a period of 18 months from the closing date. Each Common Unit
includes one (1) common share of the Company and one (1) warrant, with the
warrant exercise price of $0.12.


The Agents have received an aggregate cash commission of $30,480 and a total of
391,600 compensation options.


The proceeds of the Offering will be used to fund the initial underground mining
at the Edwards Mine project and that will focus on the mining of Edwards #1 and
Edwards #5 veins. Surface exploration will focus on the Company's Schreiber
property and for general working capital purposes.


Strike also announces that it has filed its year end (April 30, 2012) audited
financial statements and related MD & A. The Company has set October 19, 2012 as
the date for its 2012 Annual Meeting. 


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 Ont. Historic production in the camp between 1930 and 2001 is
estimated at 500,000 ounces. Between 1996 and 2001 underground development was
completed through a decline to a depth of approximately 290 m and mining over
the period resulted in 145,000 oz being produced from the Edwards property at an
average grade of 0.39 opt. Subsequent drilling on the property has delineated an
additional five zones that have significant gold mineralization. At present
Strike has dewatered the underground workings below the 140m level and is now
continuing underground drifting on both the 60m and 90m level and is drifting on
both the Edwards #1 and #5 zones with the plan to be in production in 2012. 


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. 


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.