Kesselrun Resources Closes $2.22 Million Financing With Strategic Metals Ltd.

November 21, 2012

THUNDER BAY, ON, Nov. 21, 2012 – Kesselrun Resources Ltd. (TSXV:KES) (“Kesselrun”) is pleased to announce that it has closed the private placement financing (the “Offering”) with Strategic Metals Ltd. (TSXV:SMD) (“Strategic”) previously announced Nov. 14, 2012.

Strategic has acquired 3,700,000 flow-through common shares (the “FT Common Shares”) of Kesselrun at a price of $0.60 per FT Common Share for gross proceeds of $2,220,000.00. Strategic now owns approximately 16 percent of Kesselrun’s issued and outstanding common shares.

The proceeds from the sale of the FT Common Shares will be used for exploration and development of Kesselrun’s flagship Bluffpoint project in Northwestern Ontario.

Macquarie Capital Markets Canada Ltd. (“Macquarie”) will receive a cash finder’s fee equal to seven percent of the gross subscription proceeds, and 259,000 broker warrants (the “Broker Warrants”) entitling Macquarie to purchase, in aggregate, 259,000 common shares.  Each Broker Warrant is exercisable to acquire one common share of Kesselrun at a price of $0.60 per common share for a period of two years.

All securities issued under the Offering are subject to a hold period under securities law of four months and a day from the date hereof, which will expire on March 20, 2013.

About Strategic Metals Ltd.
Strategic has interests in over 160 properties, including 41 that are under option to other companies and 21 in which Strategic holds net smelter return royalty interests. Strategic is well funded with working capital of more than $80 million including cash and marketable securities. Strategic's major shareholdings include 9.1% of ATAC Resources Ltd., 18.7% of Silver Range Resources Ltd., 32.3% of Rockhaven Resources Ltd., 19.9% of Precipitate Gold Corp., and 19.9% of Wolverine Minerals Corp. For more information about Strategic Metals, please visit www.strategicmetalsltd.com.

About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.

Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO

Adam Rabiner, Corporate Communications
604.868.7881 or NA Toll-Free 866.416.7941

Strategic Metals Ltd.
W. Douglas Eaton, President & CEO

Bruce A. Youngman, Chairman

Richard Drechsler, Corporate Communications
604.687.2522 or NA Toll-Free 888.688.2522


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