Silvermet Inc.

Silvermet Inc.

June 11, 2007 11:09 ET

Douglas Scharf Joins Silvermet as CFO

TORONTO, ONTARIO--(Marketwire - June 11, 2007) - Stephen G. Roman, President and CEO of Silvermet Inc. ("Silvermet")(TSX VENTURE:SYI), is pleased to announce the appointment of Douglas Scharf, C.A., as Chief Financial Officer of Silvermet Inc., effective June 1st, 2007.

Mr. Scharf brings to the Silvermet team, over 29 years of experience internationally in precious metals and base metals mining. He has been involved in numerous financings, mergers and acquisitions during the course of his career. Mr. Scharf served as Chief Financial Officer of Exall Resources Limited, now Gold Eagle Mines Ltd., Executive Vice President, Corporate Development of HudBay Minerals Inc., Chief Financial Officer and a Director of Southern Cross Resources Inc., a Director and Chief Financial Officer of Inmet Mining Corporation, Vice President, Finance of Placer Dome Inc., and Chief Financial Officer of the Dome Mines Group. Mr. Scharf is a Director of Gold Eagle and Chairman of Asia Now Resources Corp. Mr. Scharf holds a Bachelor of Arts degree in Economics from York University in Toronto.

The Board and management of Silvermet would like to thank Mr. Paul H. Palmer, who has retired as CFO, for his valuable contribution to Silvermet over the past 21/2 years. Mr. Palmer will continue to be available on a consultancy role.

Silvermet Inc. is an exploration and development company focused on exploring its nickel-copper-platinum group metals project located in Nunavut, Canada and its zinc-lead-silver project in Turkey. Silvermet Inc. has the right to earn a 70% interest in each of these projects. In addition, Silvermet Inc. is focusing on establishing Waelz kiln facilities in Turkey to produce zinc metal from a number of sources.

Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raised additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Silvermet Inc.
    Clifford H. Frame
    (416) 203-8336
    (416) 203-9483 (FAX)
    Silvermet Inc.
    Stephen G. Roman
    President and CEO
    (416) 368-3949