PRESS RELEASE

SRA reports third quarter 2008 results

TORONTO, ONTARIO. August 14, 2008. Strategic Resource Acquisition Corporation ("SRA") announced that it has filed on Sedar (www.sedar.com) its fiscal third quarter results for the period ended June 30, 2008. 

A total of 326,035 tons was milled at the Gordonsville mining complex during the quarter, producing 6,495 dry metric tonnes of zinc concentrate.  Contained zinc in concentrate consistently averaged 62% to 64% zinc during the period which is in line with historical averages.  Mill recovery rates have been below historical averages for the quarter but were increasing into July to the 70% range.  The Company was not in commercial production for the quarter and as such did not record revenues and costs of production. 

For the quarter, a total of 246,217 tons of ore was blasted at an average grade of 2.16%.  Poor equipment availability and manpower issues were cited as contributing to the underperformance.  Mining averaged 2,706 tpd with equipment availability and productivity improving late in the quarter. 

As a result of the delays and lower than expected productivity and mill recovery during the production ramp-up, the Company now anticipates that production for calendar year 2008 will be approximately 750,000 tons or approximately 25 million pounds of payable zinc versus previous estimates of 1.8 million tons or approximately 100 million pounds of payable zinc.  The Company expects direct mining and milling costs to average US$1.38 per payable pound of zinc in 2008 and US$1.67 per payable pound after royalties, freight and smelting costs, excluding Germanium (Ge) and Gallium (Ga) contributions, assuming revised production forecasts for the balance of 2008 are achieved.  Partially offsetting this, as at June 30, 2008 the Company had investments consisting of over-the-counter traded zinc put options with monthly expiry dates through to January 2009 totalling 19,182,056 lbs with a strike price ranging from $1.00 to $1.20.  Once a sustained mining rate of 7,500 tpd is achieved, total mining costs are expected to average US$0.85 per payable pound of zinc after royalties, freight and smelting costs, excluding Ge and Ga contributions.

As at June 30, 2008, the Company had cash of approximately $12 million and a working capital deficiency of approximately $4.5 million.  The Company?s mining operations are not profitable on a sustainable basis in the near term based on results of mining operations including costs of mining and recoveries and prevailing zinc and zinc concentrate prices.  As a result, the Company requires raising additional financing and/or refinancing its short-term debt to enable it to remain in operation beyond October 2008.  Consequently, the Company?s Board of Directors is currently investigating a number of strategic alternatives to address this situation.  Shareholders should review the third quarter MD&A and financial statements available on Sedar at www.sedar.com.

About SRA

SRA Corporation is focused on the development of the Mid-Tennessee zinc mining complex (MTM) in the State of Tennessee. The MTM is located approximately 50 miles east of Nashville with excellent infrastructure including roads, water, power, major airport and access to a well-trained workforce. MTM produces 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.

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.

For further information, please email info@sra-corporation.com or contact:

Victor P. Wyprysky                                                     Ian M. MacNeily

President and Chief Executive Officer                       Executive VP and Chief Financial Officer

Tel:  (416) 861-0430 ext. 1833                                    Tel:  (416) 861-0430 ext. 1422

Email:  victor.wyprysky@sra-corporation.com           Email:  ian.macneily@sra-corporation.com

Donna Yoshimatsu

VP Investor Relations & Communications

Tel:  (416) 861-0430 ext. 1003

Email: donna.yoshimatsu@sra-corporation.com