XME

Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to
report the results of a mineralogical study (Geomet Study) carried out by Terra
Mineralogical Services Inc. on samples collected from the mineralized zones on
the Duquesne-Ottoman Property.


"We are very pleased with the results of this study because it indicates that
the gold mineralization at Duquesne-Ottoman occurs as free gold and is not
associated with arsenic, nor is it refractory", commented Charles Beaudry, the
President and CEO of Xmet, adding that "the gold occurs mainly at grain
boundaries so it may be easily liberated by a moderate fine primary grind. We
also have the option of floating and regrinding the sulphides to increase our
overall recoveries. The great thing about these conclusions is that they come
from the study of 35 polished sections made from samples collected throughout
the mineralized zones. Conventional metallurgical testing will be done as the
project advances but already we have some idea of our expected gold recoveries
and where we could get improvements. Our next goal is to bring the Duquesne
District project to a Preliminary Economic Assessment, and this Geomet Study
assists us in the conceptualization of the resource processing methodology."


According to the study, the main gold carrier in samples is native gold with
silver also present and occurs mainly in electrum and in silver-telluride
minerals. Locally the silver-telluride minerals occur as coarse grains
("nuggets") but otherwise the gold as well as the silver is fine grained
(between 2.6 to 4.6 microns). Although generally fine grained, the gold occurs
at grain boundaries over 90% of the time which suggest that metallurgical
recoveries should be excellent provided sufficient grinding is applied to the
ore. The study also found a small amount of mercury telluride mineral grains.
This will be the subject of more study as the project develops.


Two process routes are suggested by the results. Whole ore cyanide leach after
grinding to 55 to 60 microns or alternatively a coarser grind followed by
flotation of sulphides and regrinding of sulphides to 8 to 10 microns and
cyanidation of the sulphides to liberate some of the gold that occur
encapsulated within sulphides mineral grains followed by cyanidation of the
sulphides. 


Quality Assurance and Quality Control

Sampling of drill cores was carried out on site by Terra Mineralogical Services
Inc. with the assistance of Xmet geologists. Approximately two inch drill core
samples were collected from each of 35 selected intervals from 13 diamond drill
holes that intersected one or another of the Fox, Liz, Shaft or South Shaft
Zones. Polished thin sections were prepared, and the entire surface of each
section was scanned to identify gold-bearing minerals and associated gangue
phases.


These results are based on solid data but remain predictions that need to be
followed and confirmed by metallurgical testing. More test work is planned for
the coming year that will investigate some of the questions raised by this
study.


About Xmet Inc. 

Xmet is gold exploration company focused on consolidating the Duquesne Mining
District located along the Porcupine-Destor fault in the Abitibi region of
Quebec. Building on its successful exploration on the Duquesne-Ottoman Property
where Xmet took a small historic resource and in 18 months expanded that into a
NI43-101 compliant 853,000 inferred gold ounces in 4.1 million tonnes grading
6.36 g/t Au, the company has signed agreements with its adjacent neighbors that
will add 355,000 ounces of indicated gold resource in 2.0 million tonnes at 5.9
g/t Au and a further 380,000 gold ounces of inferred resources in 2.6 million
tonnes at 4.4 g/t Au. This transaction will allow Xmet to take control of over 8
kilometres of strike on the Porcupine-Destor fault and open the immediate
exploration potential to significantly add ounces by exploring the boundary
zones between the properties and the extensions around the old shaft on the
Duquesne mine property.


Mr. Giovanni Di Prisco, Ph.D., P.Geo., Principal of Terra Mineralogical Services
Inc. and consulting geologist, is the designated Qualified Person responsible
for this release.


Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. Xmet assumes no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those reflected in
the forward looking-statements unless and until required by securities laws
applicable to Xmet. Additional information identifying risks and uncertainties
is contained in filings by Xmet with Canadian securities regulators, which
filings are available under Xmet's profile at www.sedar.com.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any State in
which such offer, solicitation or sale would be unlawful. The securities have
not been registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.


For the latest updates, news releases and events, please follow Xmet Inc. on
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Xmet Inc.
Charles Beaudry
President and COO
(416) 644-6588
cbeaudry@xmet.ca


Xmet Inc.
Stephen Stewart
VP Corporate Development
(416) 644-6588
sstewart@xmet

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