Troymet Exploration Corp.

Troymet Exploration Corp.

October 23, 2009 13:11 ET

Troymet Exploration Enters Into Amending Agreement

COMOX, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2009) - Troymet Exploration Corp. (the "Corporation") (TSX VENTURE:TYE) is pleased to announce that it has reached an agreement with R.H. McMillan ("McMillan") in relation to the amendment of the option to purchase agreement for the Golden Eagle Property among the Corporation and McMillan dated September 21, 2001 ("Option Agreement"). The Option Agreement has been amended such that the Corporation, at the discretion of McMillan, can issue shares to McMillan instead of paying cash for the option payments. Pursuant to the amendment, McMillan has agreed to accept payment of the $180,000 option payment by the Corporation issuing 3,600,000 common shares to McMillan at a deemed share price of CDN$0.05 per share. The remainder of the Option Agreement will remain the same.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at The corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the 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 of accuracy of this news release.

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