XME

Editor's note: This corrects and replaces the press release issued on April 11,
2014 at 3:18 PM ET. The price per unit in the second paragraph has been
corrected from "$.011 per unit" to "$.11 per unit." The complete and corrected
version follows. 


Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce
that it has completed all of the ground geophysics work on its 100% owned
Blackflake project and is in the midst of its initial diamond drill program. The
ground geophysics program was designed to give the company a higher definition
of the sub soil structures and to assist in spotting the initial drill holes on
the first target. As announced in our March 28th 2014 news release, the company
has engaged Asinii Drilling to complete approximately 1,500 metres of diamond
drilling to test the first target that the Company has discovered to date. The
Company expects this initial drill campaign to take approximately two to three
weeks depending on the density of the bedrock.


Xmet also announces that it has completed a non-brokered private placement of
$300,000 with an institutional investor. The funds will be used to continue the
advancement of the Company's Blackflake Project and for working capital. Xmet
has issued 2,727,273 units to the investor at a price of $.11 per unit, with
each unit consisting of one common share of Xmet and one common share purchase
warrant. Each warrant entitles the holder thereof to acquire one common share of
Xmet at a price of $0.175 at any time until October 11, 2015. Xmet paid a cash
finder's fee equal to 8% of the gross proceeds raised and issued 218,182
compensation options totalling 8% of the units issued. Each compensation option
entitles the holder to acquire one common share of Xmet at a price of 11 cents
at any time until October 11, 2015. The securities issued in the private
placement are subject to a statutory four month hold period expiring on August
11, 2014. To make possible the financing, certain directors of Xmet loaned
2,727,273 free trading shares to the investor and received in return a pledge of
an equal number of restricted shares.


The Company also announces the resignation of Stephen Dulmage from its Board of
Directors. Xmet would like to thank Mr. Dulmage for his contributions to the
company during his tenure.


About Xmet's Blackflake Project

Xmet's Blackflake Project comprises over 29,000 acres of 100% owned claims
approximately 60km to the northwest of Hearst, Ontario and is adjacent to
Zenyatta's Albany Project. Xmet has conducted three airborne electromagnetic
surveys, VTEM and TDEM, and ground geophysics which discovered multiple
electromagnetic conductors making the targets highly prospective for further
exploration. Xmet has developed an excellent working relationship with the
Constance Lake First Nation, with whom the company signed an ongoing Exploration
Agreement. Xmet has received all necessary permits from Ontario's Ministry of
Northern Development and Mines.


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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Xmet Inc.
Alexander Stewart
Chief Executive Officer
(416) 644-6588
astewart@xmet.ca


Xmet Inc.
Stephen Stewart
President
(416) 644-6588
sstewart@xmet.ca

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