Strike Minerals Issues Shares for Mining Equipment Lease

Strike Minerals Inc. ("Strike") (TSX VENTURE:STK) announces that the company has
issued 2,500,000 shares as a payment for a two year lease for certain mining
equipment to be used on the Edwards property. The shares have been issued at
$.10 per share reflecting the share price at the time of agreement. The shares
were requested by the equipment provider. 


This underground equipment will be used to assist in the current development
work being conducted by Strike on the 60m and 90m levels of the Edwards mine. 


ABOUT STRIKE MINERALS

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 a decline to a depth of
approximately 290 m was completed and mining over the period resulted in 145,000
oz being produced from the Edwards property at an average grade of 0.39 oz/t.
Subsequent drilling on the Property has delineated an additional five zones that
have significant gold mineralization. At present Strike has dewatered the
underground workings to below the 120m level and has commencing development on
the 60m and 90m level with the plan to be in production by the end of 2012. The
dewatering will also enable Strike to evaluate old stopes and high grade
mineralization that was not mined when the mine was closed in 2001 due to low
gold prices.


Strike also has a large land position in the Hemlo West area near Schreiber,
Ontario. This Property contains a number of historic producers that produced
small tonnages of very high grade gold mineralization, averaging approximately
18-25 g/t Au, between 1935 and 1937, generally associated with shear zones in
the region. The southern claims contain an extension of the Afric gold zone that
Noranda Inc., in 1995-97, calculated a non-NI-43-101 compliant, near surface
historical "geological resource" of 2.0 million tonnes grading 2.20 g/t gold
(140,000 ounces). This estimate was based on the completion of 20 drill holes.
Historical data show that the claims also have a number of geophysical anomalies
and localized gold mineralized occurrences that require further exploration. 


Strike is planning a surface exploration and drilling program to examine the
anomalies and known gold showings and to test the western extension of the Afric
zone in 2012.

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