Stategic Minerals

Strategic Minerals Corporation (Strategic) is an exploration company with significant interests in gold and uranium projects within Australia. The Company has been publicly listed on the Australian Stock Exchange (ASX: SMC) since 1981.

Strategic's initial core objective is to become a significant gold producer through development of its low cost gold resources established at its 100% owned Woolgar project, in central north Queensland.

GOLD

At the Woolgar project, the company has established a large near surface, global gold resource, which it believes has the potential to be expanded to 1M ounces of gold. To date, a resource of approximately 453,000 ounces gold (estimated at 0.8 to 1.0 g/t gold cut-off grades) has been established by the Company. A larger lower grade resource has also been defined at lower cut-off grades of 0.4 to 0.5g/t gold, the resource is estimated at 693,000 ounces of gold (See Table 1 on Projects page). This estimate does not include unpublished new discoveries.

The global gold resource estimate consists of several deposits, with Lost World being the largest.

With a strengthening gold price in 2007 (a peak of US$920 YTD), the project is well positioned to advance to gold production stage. Mining leases have been granted, Native Title agreements have been finalised and a major dam for water supply for a mining operation has been constructed.

Significant additional gold resources have been delineated by Strategic within the Sandy Creek area and adjoining historical Woolgar Goldfield, through recent drilling. Modelling of the additional resources is currently being undertaken for inclusion in the gold resource inventory.

Strategic is planning significant gold exploration and drilling programs at its Woolgar project in 2008, with the objective of expanding its near surface resource base to an initial target of 1M ounces gold. Several high priority shallow drill targets have been identified for drill testing. The targets include additional shallow positions within the Sandy Creek area and the historical Woolgar Goldfield.

In the last year of exploration managed and sole funded by Strategic, gold discovery costs at Woolgar were approximately $6 per ounce with drilling focussing solely on shallow drill targets. More recent exploration drilling has principally been directed at deeper targets under JV arrangements.

Exploration concepts for the Sandy Creek area are based on geological similarities with other high grade epithermal vein deposits such as the Pajingo - Vera Nancy gold deposits (3.2M oz Au), also located in QLD, approximately 300km to the east. This geological model, illustrates the strong potential for making further significant gold discoveries at Woolgar, both near surface and at depth.

URANIUM

Strategic, through its subsidiary company Alpha Uranium N L, has established a uranium exploration portfolio, which includes substantive targets within the Woolgar project area, where the potential for the discovery of significant uranium deposits is considered high, in addition to, prospective uranium projects in South Australia's Frome Basin, near the operating Beverley uranium mine.