Strike Announces Increase in Financing

January 30th, 2012: Vancouver, BC - Strike Gold Corp. (TSXv: SRK) (the “Company” or “Strike”) announces that further to its news release of January 12, 2012, it has increased its financing by $277,500. Accordingly, the Company intends to sell 7,300,000 units at $0.175 per unit for total gross proceeds of $1,277,500.

Proceeds of the placement will be used for exploration and development of the Company’s graphite assets in Saskatchewan and for general working capital.

Finders’ fees will be payable with respect to the placement pursuant to the policies of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Geoff Balderson, President

We seek safe harbor.

“Neither 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 release."