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 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 and extended on December 17, 2012. The proposed accelerated acquisition
is scheduled to close on June 30, 2013, which closing date may be extended to
August 30, 2013, in order to obtain any necessary approvals. For further
information regarding 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. 


Xmet also announces that the proposed acquisition of the Pitt Gold project from
Brionor Resources Inc. (previously announced on May 16, 2012 and as updated on
October 1, 2012) and its proposed concurrent acquisition of the Duquesne Mine
project from Clifton Star Resources Inc. (previously announced on September 20,
2012) will not be proceeding. 


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
www.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