Strait Amends Alicia Agreement and Updates By-Laws

Strait Minerals Inc. ("Strait" or "the Company") (TSX VENTURE:SRD) is pleased to
report that it has signed an amendment agreement with Teck Peru S.A. ("Teck
Peru"), a wholly owned subsidiary of Teck Resources Limited ("Teck"), whereby
Teck Peru will pay the Company's wholly owned subsidiary Minera Strait Gold Peru
S.A.C. $50,000 per month (inclusive of taxes) for 3 months in lieu of
expenditures on the Alicia property.


Strait granted to Teck Peru an option to earn up to a 75% interest in the Alicia
property by, among other things, spending $30 million on exploration or by
spending $10 million on exploration and delivering a pre-feasibility study (news
release dated Dec. 9, 2011). Teck Peru's first $2-million of expenditures, or
cash payment in lieu of expenditures, is mandatory. To date Teck Peru has spent
approximately $1 million. The Company and Teck Peru have agreed to extend all
terms of the option agreement until drilling resumes.


Teck holds 3,000,000 share-purchase warrants giving it the right to acquire
3,000,000 common shares of the Company at $0.35 per share until December 31,
2013. Teck must exercise the warrants and Teck Peru must complete $4 million of
expenditures on the property in order to earn an initial 45% direct interest in
the property. Strait receives a 10% administration fee for managing the
exploration program on Teck Peru's behalf.


The Company also wishes to announce that the Board of Directors has adopted a
new general By-Law Number 1-B ("2013 By-Law") which includes an advance notice
policy (the "Advance Notice Provisions") requiring advance notice to the Company
in circumstances where nominations of persons for election to the Board of
Directors are made by shareholders of the Company other than pursuant to: (i)
the requisition of a meeting, or (ii) a shareholder proposal, both made pursuant
to the provisions of the Business Corporations Act (Ontario) (the "Act").


Among other things, the Advance Notice Provisions fix a deadline by which
holders of record or beneficial holders of common shares of the Company must
submit director nominations to the Company prior to any annual or special
meeting of shareholders and set forth the information that a shareholder must
include in the notice to the Company. In the case of an annual meeting of
shareholders, notice to the Company must be provided not less than 30 days nor
more than 65 days prior to the date of the annual meeting.


In the case of a special meeting of shareholders (which is not also an annual
meeting), notice to the Company must be provided no later than the close of
business on the 15th day following the day on which the first public
announcement of the date of the special meeting was made.


The 2013 By-Law, which includes the Advance Notice Provisions, is effective as
of the date it was approved by the Board of Directors, being May 15, 2013. In
accordance with the Act, the 2013 By-Law is subject to confirmation by
shareholders at the Company's next Annual Meeting scheduled for June 20, 2013.
The 2013 By-Law is available under the Company's profile on SEDAR at
www.sedar.com and can also be obtained from the Company.


About Strait Minerals Inc.

Strait Minerals Inc. is a Canadian mineral exploration company active solely in
Peru since 2003 and listed on the TSX Venture Exchange. It holds a 100% interest
in the Alicia copper-gold property which lies within the Andahuaylas-Yauri
copper belt approximately 500 km southeast of Lima. Strait has granted Teck Peru
S.A., a wholly owned subsidiary of Teck Resources Limited, an option to earn up
to a 75% interest in the property by, among other things, spending $30 million
on exploration or by spending $10 million on exploration and delivering a
pre-feasibility study. The Company also holds an option to earn a 100% interest
in the Caribe copper-molybdenum property approximately 80 km west of Alicia and
holds a 100% interest in both the Letra Rumi South base metals property and the
Culebrilla precious metals property approximately 250 km north of Lima. The
Company continuously reviews exploration opportunities in Peru and is actively
seeking additional projects. Please visit our web site at
www.straitminerals.com.


Forward-Looking Statement: Some of the statements contained herein may be
forward-looking statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding potential mineralization
and resources, exploration results, and future plans and objectives of the
Company are forward-looking statements that involve various risks. The following
are important factors that could cause the Company's actual results to differ
materially from those expressed or implied by such forward-looking statements:
changes in the world wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. There can be
no assurance that forward-looking statements will prove to be accurate as actual
results and future events may differ materially from those anticipated in such
statements. Strait undertakes no obligation to update such forward-looking
statements if circumstances or management's estimates or opinions should change,
except as required by law. The reader is cautioned not to place undue reliance
on such forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strait Minerals Inc.
Jim Borland
President
416-223-9970
[e-mail]
www.straitminerals.com