Strike Minerals Reports Gold Mineralized Intersections in Test Drill Hole in Schreiber

Strike Minerals Inc. (TSX VENTURE:STK) ("Strike" or the "Company") announces
results from drill hole HH-12-04 recently completed on the Harkness Hays
property. The property is located in the Hemlo-Schreiber Greenstone belt of
north-western Ontario, approximately 200 km east of Thunder Bay, and 70 km west
of Hemlo.


Hole #4, HH-12-04 (Az 130 degrees, dip -45 degrees) located approximately 500
meters north-west of drill holes 1 through 3 and was the final hole in the Phase
1 drill program on the Harkness-Hays property, and was designed to test a
portion of the property that had not been drilled. Gold mineralization was
intersected within an iron formation at a vertical depth of 170 metres. This
iron formation outcrops on surface for approximately 300 metres, striking
east-west along the southern portion of the central Harkness Hays property, and
is one of numerous iron formations found within the Strike group of claims. It
is the only iron formation that has been tested by Strike Minerals to date. The
fact that the iron formation contains significant values for gold provides
Strike with a number of other exploration targets within the Priske Township
property.




Significant results are:                           
         Grade (gpt)   Length (m)   Down-hole depth
                1.19          5.2       239.3-244.5
  Inc           2.86          0.6       242.9-243.5
                4.22          0.5       243.5-244.0
                1.09          0.5       244.0-244.5
                                                                            
(Note: lengths are down hole, true widths have not been calculated)         



Strike Minerals holds 7 patented and 31 staked claims totalling 215 units (all
contiguous) in Priske Township in Schreiber, Ontario. The recently completed
phase 1 Diamond Drill program was designed to test the geology, structure and
mineralizing environment of the Harkness Hays portion of the property, and was
successful in intersecting numerous gold intersections including 7 instances of
VG in holes 1 through 3. 


The Priske Township property contains a number of historical mines and
showings/prospects including the Harkness-Hays, Pyramid prospect, Morley and
Worthington Bay showing and the potential Afric Zone west extension.


Strike management believes the initial prospecting work and diamond drilling
results on the property have shown that there is exploration potential and plans
a systematic exploration program to follow up the results during the next year.


All technical information in this press release has been reviewed and approved
by Mike Newbury, P. Eng. Who is a Qualified Person ("QP") under National
Instrument 43-101. On site sampling was supervised by Bruce Edgar, P. Geo.


Assaying was carried out by Agat Laboratories of Mississauga, Ontario (Fire
Assay- Trace Au, ICP- OES Finish).


Strike also announces that Roger Dent has been appointed Special Advisor to the
company's management and board of directors. 


Roger Dent has been involved in the Canadian financial markets for over 25 years
and has extensive experience in "small cap" evaluation and investment. Most
recently, he was a noted portfolio manager with Matrix Fund Management Inc.,
where he guided the Matrix Small Companies Fund and the Matrix Strategic Small
Cap Fund. Previously, he was Vice Chairman of one of Canada's largest
independent investment dealers. He was formerly the #1 ranked Small Cap Analyst
according to the Brendan Wood institutional investor survey.  


As Special Advisor, Mr. Dent will work closely with management and the board of
Strike as the company seeks the financing required to place the Edwards mine
into production. 


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 is
conducting 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.