Dacha Strategic Metals Inc. announced consolidated earnings results for the third quarter ended December 31, 2012. For the quarter, the company reported a net loss of $22.6 million or $0.30 per basic share, compared to a net loss of $13.3 million or $0.17 per basic share during the three months ended December 31, 2011. The net loss was largely as a result of declines over the period in the estimated fair market value of Dacha's metals inventories, change of control payment obligations in favour of certain of Dacha's former executives and consultants that became payable upon the reconstitution of Dacha's board on November 28, 2012 and professional fees incurred in relation to that board reconstitution including in connection with a related Court application initiated by Dacha's former board that was subsequently dismissed with costs payable by Dacha.

Dacha Strategic Metals Inc. provided the following updates with respect to organizational and other matters following the election of its new board of directors on November 28, 2012. Mr. Graham C. Warren has been appointed Chief Financial Officer of Dacha, effective immediately. Mr. Warren is a senior financial executive with over 25 years of experience with emerging and established companies in the environmental, telecom, mining, oil and gas, and biotech sectors. Mr. Warren has extensive board, operations, corporate finance and public markets expertise, and currently provides Chief Financial Officer and corporate governance services to four other publicly-traded companies. Mr. Michael D. Woollcombe has been appointed as Corporate Secretary of Dacha, effective immediately. Mr. Woollcombe is a partner of Voorheis & Co. LLP and Executive Vice President of VC & Co. Incorporated. The registered and head office of the company has been changed to 212 King Street West, Suite 201, Toronto, Ontario, M5H 1K5, effective immediately.

Dacha Strategic Metals Inc. elected seven individuals to the board of directors: Jorge Bernhard, Tye W. Burt, Ian W. Delaney, G. Scott Moore, Alastair Neill, Peter H. Puccetti and Timothy E. Thorsteinson. At the initial meeting of the reconstituted board following the completion of the shareholders' meeting, Mr. Delaney was appointed Chairman of the Board and Mr. Puccetti was appointed Chief Executive Officer.