HMZ Metals Inc.

HMZ Metals Inc.

September 27, 2007 09:20 ET

HMZ Announces Arbitration Update and TSX Remedial Review

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2007) - HMZ Metals Inc. ("HMZ" or the "Company")(TSX:HMZ) As announced September 20, 2007 an arbitration action has commenced in China. The Company's Chinese joint venture partner ("Hechi") has chosen to proceed with arbitration which HMZ asked for in August 2006 following the discovery of the unauthorized transfer of funds out of the Chinese Cooperative Joint Venture by Hechi. HMZ is confident the arbitration action should return a positive result and allow the Company to further its growth objectives.

At the same time previously announced legal proceedings are ongoing.

HMZ also announced today that the TSX Stock Exchange is reviewing the common shares of HMZ with respect to meeting continued listing requirements. The company has been granted 90 days in which to demonstrate compliance with these requirements, pursuant to the Remedial Review Process.

Contact Information