Mr. Denis Crane reports

STRIKE MINERALS ANNOUNCES RESULTS OF THE ANNUAL GENERAL MEETING

Strike Minerals Inc. held its annual general meeting on Oct. 19, 2012. At the meeting the shareholders approved the following resolutions:

• Directors of the company elected to hold office for the ensuing year or until their successors is appointed: Denis Crane, Michael Newbury, Michael S. Harrington, Wendy Kimmel, Bruce Edgar and Scott Jobin-Bevans;
• The appointment of NPT LLP as auditors for the corporation for the fiscal year ending April 30, 2012, and its remuneration to be fixed by the directors;
• The issuance of up to 90 million common shares during the ensuing year for the purposes of private placement financing or asset acquisition. This is in addition to the regular private placement dilution for fund raising as allowed by the TSX Venture Exchange;
• Reapproved the company's rolling stock option plan.

The board of directors meeting following the annual general meeting completed the following:

• Executive appointments: chairman of the board, Denis Crane; chief executive officer, Michael Newbury; president, Kerry Smith; chief financial officer, Robert Suttie; corporate secretary, Wendy Kimmel;
• Audit committee: Michael S. Harrington (chairman), Denis Crane and Scott Jobin-Bevans;
• Compensation committee: Wendy Kimmel (chairman), Michael S. Harrington and Denis Crane;
• Finance committee: Denis Crane (chairman), Michael S. Harrington and Michael Newbury.

Strike also announces that it has closed a non-brokered private placement of 836,181 flow-through units for gross proceeds of $71,075.38 and 250,000 non flow-through units for gross proceeds $17,500, for total gross proceeds of $88,575.

Each unit consists of one common share and one common share purchase warrant, each whole warrant entitling the holder to acquire one additional common share at an exercise price of 12 cents within 36 months of closing, subject to a forced conversion right exercisable by the company upon 30 days written notice in the event that the common shares trade at or above 18 cents per share on the TSX-V for a period of 30 consecutive trading days.

Jennings Capital Inc. and Canaccord Genuity Corp. acting as finders, received cash commissions of $7,085.65, and 86,894 compensation options. The securities are subject to a four-month hold period.

The proceeds of the offering will be used to finance exploration programs on the company's Edwards mine property and for general working capital purposes.

We seek Safe Harbor.