OREANDA-NEWS. August 22, 2012. Teck Resources Limited (TSX: TCK.A, TCK.B, NYSE: TCK) (“Teck”) announced today that it has subscribed for and acquired an additional 3,000,000 common shares of Strait Minerals Inc. (TSX-V: SRD) (“Strait”), at a cost of USD 0.10 per common share, as part of a private placement conducted by Strait. The common shares issued to Teck are legended and restricted from trading until December 16, 2012.

Teck directly holds 6,000,000 common shares of Strait, representing approximately 10.56% of the outstanding common shares of Strait, after giving effect to the private placement. Teck also holds 3,000,000 share-purchase warrants of Strait exercisable at USD 0.25 per warrant by December 16, 2012 or at USD 0.35 by December 31, 2013. If Teck were to exercise all of its warrants it would hold 9,000,0000 common shares, or approximately 15.03%, of Strait’s outstanding common shares, calculated on a partially diluted basis assuming the exercise of the Teck warrants only.

Strait is a Canadian mineral exploration company active solely in Peru since 2003.  The subscription was made for investment purposes. Teck may otherwise determine to increase or decrease its investment in Strait depending on market conditions and any other relevant factors.