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To: LoneClone who wrote (6761)	9/17/2007 11:02:07 PM
From: LoneClone	Respond to of 193686

SRA Enters Zinc Hedging Arrangement with Societe Generale Monday September 17, 11:25 am ET ca.us.biz.yahoo.com TORONTO, ONTARIO--(MARKET WIRE)--Sep 17, 2007 -- Strategic Resource Acquisition Corporation ("SRA" or the "Company) (Toronto:SRZ.TO - News) (Toronto:SRZ-NT.TO - News) reports that it has entered into a put option transaction with Societe Generale for 10 million lbs of zinc. The option establishes a minimum sale price for this portion of SRA's future zinc production at $1.20 per lb while allowing the Company to fully participate in price increases above the option price. The option is backed by the creditworthiness of Societe Generale which has more than twenty years of making markets in derivatives for commodity risk management. The hedging schedule coincides with SRA's anticipated fourth quarter start-up of production and secures a cash margin during this critical ramp-up phase. With a production plan of 125 million lbs of payable zinc in 2008, the option provides downside protection for approximately 8% of SRA's 2008 production. The Company intends to follow a prudent commodity risk management policy and this transaction commences its implementation. About SRA Progress at SRA's zinc mining complex in Tennessee (MTM) is on track for start-up in the fourth quarter of this year. Once in full production, the Gordonsville Complex at MTM is expected to be the largest zinc producer and domestic source of germanium and gallium in the continental USA. The MTM project will produce one of the highest quality zinc concentrates in the world and efforts are underway to establish recovery methods for the valuable germanium and gallium contained in the concentrate. The Company's goal is to become a producer of zinc commencing in late 2007 through the re-opening of the MTM zinc mines comprised of five historic producing underground zinc mines (Elmwood, Gordonsville, Carthage, Stonewall and Cumberland) as well as the undeveloped East Carthage zinc deposit. The MTM mining and milling complex is located approximately 80 kms east of Nashville, situated amid excellent infrastructure including roads, water, power, major airport with access to a well-trained workforce. Demand for zinc used largely in galvanizing steel has doubled in recent years. The Company also plans to explore and develop additional properties and redeploy cash flow to pursue a strategy of accretive acquisitions. Cautionary Statement on Forward-Looking Information This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, the future price of zinc or other metal prices, the estimation of mineral resources and realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits and future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of regulatory matters. These statements reflect management's current beliefs and are based on information currently available. Forward-looking statements involve significant risks, uncertainties and assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those listed in the ''Risk Factors'' section of the Company's prospectus on file with Canadian provincial securities regulatory authorities. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. For further information, please email info@sra-corporation.com. Contact: Contacts: Strategic Resource Acquisition Corporation Victor P. Wyprysky President and Chief Executive Officer (416) 861-0430 ext. 1833 Email: victor.wyprysky@sra-corporation.com Strategic Resource Acquisition Corporation Ian M. MacNeily Executive VP and Chief Financial Officer (416) 861-0430 ext. 1422 Email: ian.macneily@sra-corporation.com Strategic Resource Acquisition Corporation Donna Yoshimatsu VP Investor Relations & Communications (416) 861-0430 ext. 1003 Email: donna.yoshimatsu@sra-corporation.com Website: sra-corporation.com Source: Strategic Resource Acquisition Corporation

To: LoneClone who wrote (6761)	9/17/2007 11:03:17 PM
From: LoneClone	Respond to of 193686

Sedibeng to build 1m t/y iron ore mine Allan Seccombe Posted: Mon, 17 Sep 2007 miningmx.com [miningmx.com] -- EMPOWERMENT group Sedibeng Mining, the partner of choice for AIM-traded Petra Diamonds in two deals with De Beers, is pushing hard to find a way to move millions of tonnes of iron ore to potential customers in South Africa and China, said chairman Clyde Johnson. It is understood diamond-focused Sedibeng might be in offtake agreement talks with ArcelorMittal South Africa, the largest domestic steel producer. Johnson declined to make any comment. ArcelorMittal inherited a highly favourable arrangement with Kumba Iron Ore to secure most of its domestic needs for iron ore at cost plus three percent when it bought Iscor. Sedibeng is in talks with project financier Industrial Development Corporation to begin a mine. It has an offtake agreement with Chinese company called Rainbow Horizons, Johnson said. "We'd like a million-tonnes-a-year mine to start off with and we are in talks with Kumba Iron Ore and the rail and port authorities about getting an allocation for the export market," Johnson said. The mine could potentially produce three million tonnes of iron ore annually, he said. Sedibeng, which is partnered with Sirius, an enterprise capital fund in the iron ore project, estimates it has 100 million tonnes of ore with a 66% iron content at its deposit near Posmasburg in the Northern Cape, not far from the existing iron ore operations of Kumba and African Rainbow Minerals. "This deposit has effectively been sterilised by a lack of infrastructure," Johnson said. Sedibeng is hopeful it can start transporting iron ore to either Saldanha harbour or to ArcelorMittal's Newcastle plant from around March 2008. There is some mining infrastructure in place at the deposit having been a former seller of material to Kumba. A new-order mining right has been secured, Johnson said. Sedibeng has joined Petra in a bid for De Beers' Cullinan mine, Johnson told Miningmx, adding it was also looking to play a role in the disposal of De Beers' one million carat per annum Namaqua diamond mine on South Africa's west coast in a transaction with state-owned Alexkor. Click Here to subscribe to our daily newsletter The latter transaction would most likely not include Petra, Johnson said. "The only way Namaqua would make sense is if Alexkor, Namaqua and Transhex merge their operations there," Johnson said, adding Sedibeng had not yet spoken to South Africa's largest listed diamond producer Transhex about any such arrangement. Johnson is a former Transhex employee. Sedibeng was set up in 1999 to retreat De Beers' tailings on a profit-split arrangement. Sedibeng has coal assets it operates with Petra. It joined Petra in buying the Koffiefontein and Kimberley underground mines from De Beers. Sedibeng has 26 percent stakes in the mines. Its exposure to the R78.5m purchase of the Kimberley mine unveiled on 14 September is about R4m. "We've got a fairly sweet deal with Petra, but I don't really want to talk about it," Johnson said.