Strike Minerals Announces Private Placement of Up to $500,000

Strike Minerals Inc. (TSX VENTURE:STK) ("Strike" or the "Company") is pleased to
announce that it will offer on a best efforts basis a non-brokered private
placement of up to $500,000 in common share units and flow through units (the
"Units Offering").


Strike will offer a combination of up to 3,500,000 Flow-Through Units ("FT
Units") at a price of $0.10 per FT Unit and up to 2,142,860 common share units
("Common Unit") at a price of $0.07 per Common Unit. 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.


Each FT Unit consist of one (1) Flow-Through share of the Company ("Flow-Through
Share") and one common share purchase warrant of the Company (a "Warrant") and
each 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
36 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 an exercise price of $0.12 for a period of 18 months from the closing
date.


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, and for general working capital purposes.


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 development on both the 60m and 90m level with a 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's
initial drilling at Harkness-Hays resulted in a number of mineralized
intersections that contained visible gold. Strike will continue a 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 and continue 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.