It is the Directors' intention that the activities of Stratex be directed exclusively to the search for and delineation of high-value mineral resources, primarily gold, silver, copper, molybdenum, zinc, and nickel. The Directors believe that the lack of funding directed to exploration over the past decade has created a serious imbalance in the projected supply-demand equation for a number of commodities over the next few years.

Stratex has entered into the Strategic Alliance Agreement with Teck Cominco to explore for resources throughout Europe, the Middle East, and Africa . The Directors believe that the licence holdings and supporting databases held by Teck Cominco in these regions combined with the extensive personal knowledge, exploration experience and track records of the Stratex management team will enable the Company to identify priority precious and base metal deposits.

Under the Strategic Alliance Agreement Teck Cominco is entitled to earn into a maximum of four properties introduced by the Company. Having exercised its option on a property, Teck Cominco is then entitled to take that property forward to pre-feasibility and, where appropriate, feasibility studies and ultimately production. The Directors aim to minimise financial and risk exposure to Stratex through joint funding and utilisation of the technical expertise and mining capabilities possessed by Teck Cominco. In the event that Teck Cominco does not elect to exercise its option on a property Stratex would have the right to negotiate financing and production agreements with other parties.