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Strategic Resource Acquisition Corporation is Focusing on Their Lagoa Salgada Base Metal Concession in the Iberian Pyrite Belt in Portugal Where, in Addition to a 43-101 Inferred Resource of 578 million lbs. of Zinc Equivalent, Airborne Geophysics Indicate A Lot Of Potential for Zinc and Other Base Metals

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Resources - Exploration
Strategic Resource Acquisition Corporation (SRZ-CNSX)

Two Bloor Street West, Suite 3400
Toronto, Ontario, Canada M4W 3E2
Phone: 416-644-6000 x 650

Company Profile:

Strategic Resource Acquisition Corporation (SRA) (CNSX-SRZ) is a Toronto-based mineral development company, focused on acquisition and development of base and precious metal properties in Canada and in low-risk foreign locations. SRA currently has 100% ownership of one base metal concession at Lagoa Salgada in Portugal, located in the Iberian Pyrite Belt, a renowned mining district spanning Spain and Portugal.

Peter F. Chodos
President and CEO

Peter F. Chodos is the President and Chief Executive Officer of Strategic Resource Acquisition Corporation. He has over 30 years’ experience in the financial markets primarily in Canada but also in the United States and the United Kingdom. He has completed many merger and acquisition transactions as well as private and public financings and restructurings. Mr. Chodos was co-founder of two structured product firms which raised in excess of $300 million. Most recently, he was the President and Chief Executive Officer of a publicly listed mining merchant bank. Mr. Chodos has a B.Comm from McGill University and a Masters of Business Administration from Harvard University. He is a Chartered Accountant and a Chartered Business Valuator.


Interview conducted by: Lynn Fosse, Senior Editor, CEOCFOinterviews.com, Published – March 4, 2011

Mr. Chodos, what attracted you to Strategic Resource Acquisition?

Mr. Chodos: What attracted me to Strategic Resource Acquisition was the potential to develop what we think is an outstanding opportunity in the Iberian Pyrite Belt. There are many deposits and producing mines in that belt. In addition, we have an opportunity to exploit a property that already has a 43-101 resource on it with a lot of exploration upside.


CEOCFO: What is it about that particular property project that stands out for you?

Mr. Chodos: The metal that we are focusing on at our Lagoa Salgada Concession at present is zinc. We think that metal has a particularly good outlook over the next several years, which is right in our time frame for the further exploration and delineation of the resource that we have now. There are numerous VMS deposits in that belt and we think we have tapped into one of them on this property. We believe that as a result of some of the airborne geophysics that have been done previously by another company, there are many exploration opportunities available to us. We believe that there is a lot of upside potential both for zinc and other base metals.


CEOCFO: Would you tell us a bit more about the market today and the availability for zinc.

Mr. Chodos: The market for zinc today relatively speaking is quite strong. The price has come up from the lows of the fifty or sixty-cent range to about a $1.15 a month ago and the spot price of zinc is about $1.07 right now. There are several forecasters that are expecting a zinc shortage at some point in the next three years. The developed economies are on a recovery path now and the emerging markets are obviously creating significant demand right now. So we think that the market for zinc at least is going to be pretty strong over the next several years.


CEOCFO: How developed is the property that you have as far as infrastructure and accessibility?

Mr. Chodos: The property is in Portugal and is about half way between Lisbon and the Algarve. It is very close to the main railway that goes north/south. It is twelve or so kilometers from a town of fifteen thousand people. It has all the requisite infrastructure that is required. However, the property itself is not developed in that sense. There has been some drilling, and the last drilling was in about 2006 under the previous owner.  The 43-101 was prepared based on that drilling and was issued in the summer of 2007. We have a deposit with an inferred resource of 2 million tonnes, which equates to approximately 580 million lbs. of zinc equivalent at a 14% grade, which is very sound and a good grade for that belt. The expectation is that with additional drilling we could expand the resource itself and upgrade part of the resource at least from inferred to indicated and maybe measured and indicated.


CEOCFO: Do you own 100% of the property and do you expect to continue with whatever arrangement you have now?

Mr. Chodos: We own 100% of the concession as we speak.


CEOCFO: Portugal has traditionally been mining-friendly, but some countries seem to change their opinion every so often; what is the situation in Portugal today?

Mr. Chodos: The good news on that front is that Portugal continues to be mining-friendly. Our interactions with the authorities on whatever level whether they be local or federal have been very good and the authorities have been very understanding; even encouraging. We believe that, given the amount of employment that is generated by the mining industry in Portugal, especially right now, the government is not inclined  to do anything that would turn investors or companies away.


CEOCFO: What is the financial picture like for Strategic Resource Acqusition today?

Mr. Chodos: If we are going to accomplish any exploration or work in and around the project, we are going to have to raise some capital. The company has some money in the treasury, but basically that is just enough to maintain its listing and status as a public company.


CEOCFO: What is the plan for the next year or so?

Mr. Chodos: The plan would be to raise some capital. Then basically once we have raised the capital to start the additional drilling geological modeling and geophysical modeling.


CEOCFO: Why should potential investors consider Strategic Resource today?

Mr. Chodos: To me it is very simple. I will give you five points. Number-one, this is an exploration property with a resource already in place, so that limits the down side. Number two; there is a lot of upside exploration potential in a well-known mineralized belt. Number three, we believe that SRA relative to its market comparable companies is undervalued. We acquired the property for about 1/20th of a cent based on the resource, per lb. of zinc. The market comparables trade at depending on what your sample is trade around 1.2 to 1.25 cents per lb. so there is plenty of room for an uptick in the valuation. Number four, the deposit is in Portugal, which is very stable and mining friendly. Finally, there is an experienced management and technical team.


CEOCFO: Final thoughts, what should people remember most about SRA?

Mr. Chodos: What people should remember about SRA is that it is significantly undervalued and the asset was acquired at a very, very advantageous price.


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What attracted me to Strategic Resource Acquisition was the potential to develop what we think is an outstanding opportunity in the Iberian Pyrite Belt. There are many deposits and producing mines in that belt. In addition, we have an opportunity to exploit a property that already has a 43-101 resource on it with a lot of exploration upside. - Peter F. Chodos

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