HMZ Metals Inc.

HMZ Metals Inc.

March 07, 2008 08:55 ET

HMZ Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - HMZ Metals Inc. ("HMZ" or the "Company") HMZ provides its bi-weekly update pursuant to the Management Cease Trade Order announced April 18, 2006.

Financial Statements

The preparation of both audited financial statements for the year ended December 31, 2006 and unaudited interim financial statements for fiscal 2007 is near completion. The Company continues to work towards filing the above referenced financial statements and related disclosure documents on or before March 10, 2008. However, the Company may require an additional two weeks to complete the filings due to scheduling difficulties. Once filed, the Company will be current in its on-going disclosure obligations.

CNQ Listing Approval

Trading of the Company's common shares under the symbol "HMZA" has been approved and is subject to:

- the filing of all outstanding financial statements as of the date of final approval

- the prior remedy of any cease trade order or default of a securities commission

The CNQ reserves the right to amend or waive any of the above conditions prior to final approval.

China, other Initiatives

Previously announced legal initiatives against the Company's Chinese joint venture partner are progressing. The Company is engaged in preliminary negotiations regarding potential new projects inside China and neighbouring countries and also continues with assessments of North American projects.

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