XME

Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to
announce that it has extended the closing date of its acquisition of the Pitt
Gold project from Brionor Resources Inc. ("Brionor") previously announced on May
16, 2012 and as updated on October 1, 2012 and its concurrent acquisition of the
Duquesne Mine project from Clifton Star Resources Inc. ("Clifton Star")
previously announced on September 20, 2012. The proposed acquisitions of the
100% owned mineral claims from Brionor and Clifton Star are now scheduled to
close concurrently on April 30, 2013 together with Xmet's proposed accelerated
acquisition of a 75% interest in its Duquesne-Ottoman project from, among
others, Globex Mining Enterprises Inc. ("Globex"), previously announced on March
3, 2012. If such transactions are completed Xmet's NI 43-101 compliant and
contiguous gold resources will total 1,233,000 ounces inferred and 355,000
ounces indicated. For further information regarding the Pitt Gold and Duquesne
Mine projects and the agreement in respect of the accelerated option exercise of
the Duquesne-Ottoman project please see the above noted press releases available
under Xmet's corporate profile at www.sedar.com. Please refer the Table below
for the total resource details on Xmet's Duquesne District.




RESOURCE TABLE FOR THE DUQUESNE DISTRICT CONSOLIDATION                      
                                                                            
                              Indicated Ounces          Inferred Ounces     
                              Tonnes Grade  Ounces    Tonnes Grade    Ounces
Xmet's Duquesne-Ottoman                            4,171,000  6.36   853,000
Clifton Star's Duquesne                                                     
 Mine                      1,860,000  3.33 199,000 1,560,000  5.58   280,000
Brionor's Pitt Resource      600,000  7.83 156,000   476,000  6.91   100,000
                                          --------                ----------
                                           355,000                 1,233,000



Completion of the above transactions is subject to a number of conditions,
including but not limited to obtaining any necessary approvals, as well as the
acceptance of the TSX Venture Exchange. 


About Xmet Inc.

Xmet is a gold exploration company focused on advanced projects in existing
mining camps in Canada where exploration and mining costs are minimized and
where previous and historic producing mines make for much easier permitting.
Xmet's flagship project, the Duquesne-Ottoman property, which covers an area of
928.6 hectares, is located approximately 30 kilometres north of the city of
Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the
townships of Duparquet and Destor in the Province of Quebec.


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
Facebook and Twitter. 


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.ca

Xmet Inc. (TSXV:XME)
Historical Stock Chart
From Jun 2024 to Jul 2024

Xmet Inc. (TSXV:XME)
Historical Stock Chart
From Jul 2023 to Jul 2024