Strait Receives Approval for Drilling at Alicia

Strait Minerals Inc. (TSX VENTURE:SRD) is pleased to report it has received
approval from Peru's Mines Minister to resume drilling at its 100%-owned Alicia
copper-gold property.


A 6,000-metre drill program at Alicia was put on hold in October, 2012, pending
clarification by the ministry of regulations regarding consultation with
indigenous people. 


When the drill program was put on hold, the Company and Teck Peru S.A. ("Teck
Peru"), a wholly owned subsidiary of Teck Resources Limited ("Teck"), agreed to
extend all terms of their option agreement until drilling resumed. An agreement
with the community regarding access rights and social contributions by the
Company was renewed for two years in 2012.


Strait has 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 $1.5 million. 


Teck currently 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.


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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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