SOURCE: FinMetal Mining, Ltd.

April 05, 2007 09:57 ET

Company Exercises Option to Acquire Two New Gold Projects in Finland

TAMPERE, FINLAND -- (MARKET WIRE) -- April 5, 2007 -- FinMetal Mining Ltd. (OTCBB: FNMM) is pleased to announce it has successfully completed due diligence on two advanced gold properties in Finland and has made an initial option payment of EUR 150,000 to Ab Aprofas Oy. Under the terms of a previously announced option agreement, FinMetal can acquire a 100% interest in the two gold projects, comprised of five mineral concessions.

Company Chairman and CEO Dan Hunter stated, "Before completing any proposed property acquisitions, we carry out a due diligence program to evaluate all aspects of a contemplated transaction. We are pleased to report that satisfactory due diligence has been completed and the previous exploration work, including drilling, that has been done on these two gold properties warrants further development to expand on the promising potential of the mineralized zones."

The options exercise above builds on an initial deal dated January 23rd, 2007, when the company first announced it had entered into an option agreement with Ab Aprofas Oy positioning the company to acquire a 100% interest in two gold projects known as Poronmannikko and Sarkiahonkangas. The interest was to be secured via cash payments to Ab Aprofas Oy totaling 1,000,000 Euros. The initial payment of EUR 150,000 has now been made; the 2nd payment of EUR 150,000 is due on or before April 1, 2008; the 3rd payment of EUR 300,000 is due on or before April 1, 2009 and the final payment of EUR 400,000 is due on or before April 1, 2010.

On Behalf of the Board:

Daniel Hunter - CEO


This release contains forward-looking statements that are based on the beliefs of FinMetal Mining Ltd.'s management and reflect FinMetal Mining Ltd.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of FinMetal Mining Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.

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