First Metals Inc.

First Metals Inc.

September 09, 2009 10:47 ET

First Metals Announces Rescheduled Annual Meeting-Maintains TSX Listing

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2009) - First Metals Inc. (the "Company") (TSX:FMA) announced that it has rescheduled its Annual and Special Meeting of shareholders to October 21, 2009. The record date has been set at September 21, 2009.

Further to its news release of July 10, 2009, the Company is pleased to announce that, based upon information submitted by the Company, the TSX has advised management that an expedited listing review will not be initiated by the TSX and that the Company's shares will continue to trade on the senior board of the TSX.

First Metal's CEO Richard Williams commented that "with the recovery in metal prices, the Magusi polymetallic deposit represents an opportunity for the Company to rejoin the select group of Canadian metals producers. Much of the infrastructure remains in place, including roads, buildings, and hydro. The deposit has been drilled to the 350m level and the portal and ramp to the deposit were started last year. We are now setting our sights on a resumption of development operations."

First Metals Inc. presently has approximately 322 Million shares issued and outstanding.

The statements made in this news release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by Company.

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