Strategic Minerals Sells 50% Interest in CS Metals

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FOR IMMEDIATE RELEASE

STRATEGIC MINERALS SELLS 50% INTEREST IN CS METALS

DANBURY, Connecticut, September 6, 2002 -- Strategic Minerals Corporation, headquartered in Danbury, Connecticut, has agreed to sell its 50% interest in CS Metals of Louisiana, a joint venture that recovers vanadium, molybdenum, and other metals from spent catalysts. The company's interest is being sold to its joint-venture partner, CRI Metal Products, Inc. of Houston.

Following the sale, Strategic Minerals will continue to market the vanadium units produced by CS Metals, most of which will be used to produce ferrovanadium for steel. The company will also provide technical services during the transition period.

"Both companies remain confident that the processing of spent catalysts will continue to be an important source of vanadium as metal prices return to historic norms," said William G. Beattie, Chairman of Strategic Minerals Corporation. "However, the additional resources required to improve CS Metals' performance were inconsistent with Strategic Minerals' new strategic commitment to specialty- and proprietary-vanadium products."

September 6, 2002

For more information, contact

John Crane
telephone: (212)302-3344
email: John.Crane@stratcor.com

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